Schaeffer's Trading Floor Blog

Another EBAY Cover

by 6/13/2005 8:11 AM
Stocks quoted in this article:

For those who follow magazine cover stories as an indicator...Bernie just noted that eBay (EBAY) makes the Economist's cover.

This follows last Monday's Barron's cover and, of course, Thursday's technological discovery of the internet.

It appears that internet is all the rage. As the old saying goes - history may not repeat exactly but it often rhymes....

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Good Morning

by 6/13/2005 7:52 AM
Stocks quoted in this article:

We kick off the trading week with stocks futures hinting toward a downward bias at the open as the S&P's currently trade a point and a half or so below fair value. Gold is down 70 cents to 428.60. Oil is down 23 cents to 53.31.

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Final Figures

by 6/10/2005 5:49 PM
Stocks quoted in this article:

For the most part, it ended up being a quiet session...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1198.1 -2.8 points -0.23 percent
Dow Jones Industrial Average (DJIA) 10512.6 10 points 0.1 percent
Nasdaq Composite (COMP) 2063.0 -13.9 points -0.67 percent
Russell 2000 (RUT) 626.3 0.1 points 0.02 percent
CBOE Market Volatility Index (VXO) 11.62 -0.27 points -2.3 percent

The COMP was sluggish but the other major indices finished near breakeven....

Overall we see mixed picture. Gold stocks were the only group to show a meaningful advance on the day while semis lead the decliners and bonds finished the day weak.

In a quick glance through some charts I didn't see much that stood out as being too significant. The broad market indices are meandering sideways but it may be worth noting that the NDX is moving lower as it closed at its lowest level since mid-to-late-May. If the techs are starting to break the COMP will likely follow. And that is where I will pick up the conversation on Monday.

But before I go, I wanted to reiterate what I said yesterday as I have had a few more questions and I want to make sure everyone (who wants to) has a chance to participate...

A number of you have asked me when the new Advanced Home Study Program project will begin and when you should place your orders...

My goal is to begin the interactive session in early July. That should give you enough time to receive the study course and get comfortable with it. If you have not done so yet, you can order the Advanced Home Study Program here.

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Into the Close

by 6/10/2005 4:13 PM
Stocks quoted in this article:

Here is today's intraday chart of the SPX....


Chart Courtesy of Thomson/ILX

For the most part, it was a rather dull close as the SPX bounced off its lows and made its way back toward breakeven.

Now I need to step away from desk to work on another project but before I leave for the day, I will be back to recap the days action and go over the final figures...

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Checking Back on BSX

by 6/10/2005 3:40 PM
Stocks quoted in this article:

Boston Scientific (BSX) is a stock I have been watching for some time...I just noticed this daily chart that shows the shares are pushing back into the former support zone. This should make for an interesting situation to keep an eye on next week...


Created with SuperCharts by Omega Research

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