Schaeffer's Trading Floor Blog

Readers Respond - 3M?

by 7/8/2005 2:47 PM
Stocks quoted in this article:

In response to my post below, Tim says - "Another stock with similar IP performance and numbers that has been talked about previously in your Blog is MMM."

My response - I last touched on 3M in just before I left last week and my colleague Beth Gaston Moon followed up with some more thoughts. The broad market bounce today has MMM back to test the underside of its former support zone so this action should be interesting...


Created with SuperCharts by Omega Research

<

permanent link
Stocks quoted in this article:

And once again...the SMH is back to test resistance...


Created with SuperCharts by Omega Research

We have been tracking this level for some time as it has served as resistance since November. For more on this, make sure you read Bernie's commentary from yesterday- "Schaeffer on Charts: Tenuous Chips"

<

permanent link

Index Check

by 7/8/2005 1:09 PM
Stocks quoted in this article:

The bulls have kept a steady bid under stocks as the broad market indices have moved in nearly a straight line higher. Here's where the major indices stand...

Gold stocks and bonds are in negative territory while oil and internet stocks are just above breakeven. Outside those groups there appears to be generalized buying but a lack of distinct leadership with a number of indices tagging the one percent mark...

<

permanent link
Stocks quoted in this article:

While the SPX remains mired in a sideways range that has been in place since last November, check out this weekly chart of the Russell 2000 (RUT)....


Created with SuperCharts by Omega Research

This proxy for the small-cap segment just ticked above the December high which puts the index at a new all-time high.


permanent link

Must Read

by 7/8/2005 12:04 PM
Stocks quoted in this article:

Looking for trading ideas?...

If so, check out Jocelynn Drake's excellent column - Trading Opportunities Returns: Lost in a Sea of Paper

And if you aren't looking for specific trading ideas, this column is still worth reading as it serves as an excellent example of what in-depth sentiment research looks like. I know I have said that before about her work, but it is worth repeating...and reading...

<

permanent link
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Partner Center

© 2015 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.