Schaeffer's Trading Floor Blog

Index Check

by 6/6/2005 12:56 PM
Stocks quoted in this article:

I am back from my meeting and scanning around to see what is on the move...

And based on this graph, it looks like the action is still rather quiet as the broad market indices are hovering near breakeven...semis have recovered a bit from their morning lows...oil and gold related stocks have pulled back while the underlying commodities are still higher...


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Slow Start to the Week

by 6/6/2005 10:55 AM
Stocks quoted in this article:

As you can see in the figures below, the session remains rather quiet...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1194.3 -1.7 points -0.14 percent
Dow Jones Industrial Average (DJIA) 10452.6 -8 points -0.1 percent
Nasdaq Composite (COMP) 2069.3 -2.1 points -0.10 percent
Russell 2000 (RUT) 619.3 -1.0 points -0.16 percent
CBOE Market Volatility Index (VXO) 11.94 0.38 points 3.3 percent

Which is good for me, because I need to step away from my screen to sit in on a meeting to discuss the current market environment.

While I am gone, my PC will be running a query to look for "underloved" stocks so I should have some stocks to discuss when I return...


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Optimistic Bidding...

by 6/6/2005 10:46 AM
Stocks quoted in this article:

For those who follow magazine cover stories as an indicator... You might want to check out this week's Barron's as eBay (EBAY) takes the spotlight with an optimistic article...


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Stocks quoted in this article:

A few weeks ago I noted the action in Merrill Lynch (MER)...I was just going through some charts and noticed that despite the broad market advance in the last month and a half, MER is still struggling to overtake that resistance zone we discussed...


Created with SuperCharts by Omega Research

The 50-day moving average has pushed down on the shares and they did manage to achieve one close above this trendline. However, the victory was short-lived as the shares fell back below this average. The stock is still holing at its recent lows near 54 so perhaps the bulls are preparing for another barrage on resistance. But given the optimistic sentiment below, I would keep a wary eye on what happens at this short-term support.

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 77%
  • Number of analysts tracked by Zacks: 17
  • Short interest as a percent of float: 0.9%
  • Short interest ratio: 1.686
  • Put/call ratio percent rank: 17.1%

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Stocks quoted in this article:

As usual, this table lists stocks that have at least 10 percent of their float sold short and then shows the top ten based on the previous day's gain. The last field shows how the stock is performing in today's session. This can be a useful tool for finding situations where stocks with heavy short interest have begun to move. All returns are shown in percentages.

Note - more information on short interest can be found by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
Netease.com, Inc. (NTES) 5.5 22.2 55.88 -0.79
America West Holdings Corporation (AWA) 4.9 23.2 6.45 -2.33
Atlas America, Inc. (ATLS) 3.9 62.6 32.99 -1.33
Southern Peru Copper Corporation (PCU) 3.5 11.2 49.25 1.75
Jos. A. Bank Clothiers, Inc. (JOSB) 3.5 40.3 40.85 -2.65
Oxford Industries, Inc. (OXM) 3.4 12.7 41.75 -1.27
Gamestop Corporation (GME) 3.3 41.1 31.08 -0.32
Wynn Resorts, Limited (WYNN) 3.0 14.8 55.02 -3.44
Multimedia Games, Inc. (MGAM) 2.8 34.3 10.87 -1.10
Take-Two Interactive Software, Inc. (TTWO) 2.7 14.8 27.08 -1.14
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