Schaeffer's Trading Floor Blog

CSCO

by 5/10/2005 4:29 PM
Stocks quoted in this article:

Cisco's numbers are out...It looks like they beat EPS estimates by a penny and the stock appears to be up a few cents from its 4:00 PM close. However, we will have to wait for the comments from CSCO's management to get a better feel for how the shares will react...


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Into the Close

by 5/10/2005 4:07 PM
Stocks quoted in this article:

The bulls made a late-day push...or the bears merely got tired of hitting the sell button...as the SPX staged a small bounce into the close...


Chart Courtesy of Thomson/ILX

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Stocks quoted in this article:

Continuing the discussion on risk, Chris says - "While a hedge fund may be in trouble, a glance at the charts indicates today's pressure is more likely the result of indexes bumping their heads. After yesterday's close, the indexes: Dow: hit 200 day m.a. S&P: hit 50 day m.a. NASDAQ: hit both 50 & 200 day I, too, am watching for signs of hedge fund blow-ups because of the serious threats they pose to the markets. For those interested, a good article for review of the LTCM debacle can be found at: http://www.erisk.com/Learning/CaseStudies/ref_case_ltcm.asp I think (speculating) that we should watch for hedge fund trouble if there are destabilizing problems globally (currency problems like the ruble in LTCM's case causing a flight to quality). Or, within the US, serious de-valuations in the market value of assets (since hedging is linked to the market value of assets - not necessarily the real value of assets). For instance, market values for property seem to be extremely inflated. What will happen if and when they start to fall? Or, what will happen if and when the dollar resumes its tailspin? Serious shifts in market values could cause money to start to move rather quickly. I don't think that's happening today, even if a large hedge fund is selling. "

My response - Interesting thoughts. Thanks for the link!

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Stocks quoted in this article:

Here are today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • Biotech HOLDRS (BBH) = +1.20 percent
  • iShares Lehman 20+ Year Treas Bond (TLT) = +0.60 percent
  • iShares Nasdaq Biotechnology (IBB) = +0.45 percent
  • streetTRACKS Gold Shares (GLD) = +0.14 percent
  • iShares C&S Realty Majors (ICF) = -0.34 percent
  • iShares DJ US Real Estate (IYR) = -0.38 percent
  • Wireless HOLDRS (WMH) = -0.39 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = -0.44 percent

Bottom Performing Sector Exchange Traded Funds:

  • iShares DJ US Technology (IYW) = -1.47 percent
  • Materials Select Sector SPDR (XLB) = -1.50 percent
  • iShares DJ US Energy (IYE) = -1.52 percent
  • Energy Select Sector SPDR (XLE) = -1.56 percent
  • Internet HOLDRS (HHH) = -1.65 percent
  • iShares DJ US Basic Materials (IYM) = -1.71 percent
  • Oil Service HOLDRS (OIH) = -1.80 percent
  • iShares GS Networking (IGN) = -1.98 percent

Given what we have discussed on the market, it probably doesn't come as too much of a surprise to see that most sectors are trading lower. Of particular interest is the IGN which was the best performing sector yesterday, but as we discussed that performance was driven by second-tier names....

Note: If you are not familiar with ETFs, make sure you read the Education and FAQ sections in our ETF center.

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Selling

by 5/10/2005 2:44 PM
Stocks quoted in this article:

It appears that the buying demand was short lived. My alert for NYSE net ticks below -1000 has hit as the SPX has plunged from it attempted bounce...


Chart Courtesy of Thomson/ILX

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