Schaeffer's Trading Floor Blog

Selling

by 6/7/2005 3:33 PM
Stocks quoted in this article:

I was called away to a meeting and upon return I see that the selling I noted below has continued. My alert for NYSE net ticks below -1000 hits as the SPX drops back to breakeven ...

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Selling?

by 6/7/2005 1:58 PM
Stocks quoted in this article:

It appears a bit of selling has entered the picture...


Chart Courtesy of Thomson/ILX

After three hours of the SPX moving in a two point range, there has been a small break to the downside.


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Stocks quoted in this article:

Another stock from today's new high list is Urban Outfitters (URBN) which I last discussed back in late March...A check of the weekly chart shows a strong uptrend still in place.


Created with SuperCharts by Omega Research

After trading around it for a few weeks, the stock held the support zone we discussed in March and the stock has now broken free of the consolidation zone. A check of the stock's scorecard shows a slight drop to seven, but I would still consider that relatively healthy given the uptrend...


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FYI

by 6/7/2005 12:34 PM
Stocks quoted in this article:

For those interested...my regular weekly column has now been published on the homepage - Reader Requested Stock Analysis - Pixar, Amdocs, Merrill, Biogen and More...

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Index Check

by 6/7/2005 12:32 PM
Stocks quoted in this article:

With the lull below still in full force as we slide through lunch, here's where the major indices stand....

Outside of oil and gold, it looks like a "rally on Wall Street"...at least a mild to moderate one. A few groups have pushed slightly ahead of the pack, but for the most part there is fairly tight grouping. In other words, the midday action doesn't seem to show that any one particular group is leading day. It is just generalized buying....


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