Schaeffer's Trading Floor Blog

Checking Back on BEBE

by 6/13/2005 2:48 PM
Stocks quoted in this article:

The action continues to meander...despite a spike in NYSE net ticks that led me to (erroneously) hope the action was picking up.

I was looking around for stocks of interest and bebe stores (BEBE) caught my eye. When I last checked on the shares I noted at stock split was coming. Here is what the split adjusted chart looks like...


Created with SuperCharts by Omega Research

The shares are still holding above the intermediate-term support zone which is also the site of the ascending 50-day moving average. You can also see a short-term support zone which is the site of the recent gap higher. The shares are in the process of trying to bounce from this support so that is something to watch...

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Momentum Slows

by 6/13/2005 1:36 PM
Stocks quoted in this article:

Earlier I noted that the bulls made a push about an hour after the open. Here you can see that run...


Chart Courtesy of Thomson/ILX

You can also see that the buying binge only lasted for about half an hour as the action has meandered since...

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NFLX Keeps Its Momentum?

by 6/13/2005 12:14 PM
Stocks quoted in this article:

On Friday I noted that Netflix (NFLX) was on the move...amid some skepticism from the Street and short sellers...and the action continues....


Created with SuperCharts by Omega Research

The shares closed near their high on Friday, and after a lower open this morning, have fought their way back to take out Friday's best level. The May peak was just above 19 and I suspect that will be a tough level for the shares but it appears that at the moment, momentum is on their side...

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Stocks quoted in this article:

As I try to get back in synch with today's action, the daily chart of the SPX just caught my eye...


Created with SuperCharts by Omega Research

This short-term chart shows the 20-day (green line) and 50-day (black line) moving averages which recently showed a bullish cross. The 20-day trendline has caught up the SPX as it tries to break through a short-term zone that has been resistance...


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Index Check

by 6/13/2005 11:41 AM
Stocks quoted in this article:

I am back at my desk and here's where the major indices stand...

Its looks like it was a quiet open and then a spurt of buying around 10:30 sent the broad market indices higher....gold stocks continue Friday's advance...Bonds and oil services are the only groups from list trading lower.


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