Schaeffer's Trading Floor Blog

In the News

by 5/20/2005 8:24 AM
Stocks quoted in this article:

For the most part, the headlines are quiet...as the chatter seems to center on the announcements that US Airways Group and America West Holdings will merge and that Maytag plans to be taken private.

The semi book-to-bill ratio came out last night with a reading .80 but I don't see too much in the way of reaction out of semis but I will check in on them at the open...


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Good Morning

by 5/20/2005 7:53 AM
Stocks quoted in this article:

We come into the last trading day of the week with S&P futures trading roughly three points below fair value. Gold is down 60 cents to 420.20. Oil is up 50 cents to 49.24.


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Final Figures

by 5/19/2005 5:11 PM
Stocks quoted in this article:

Not quite the same level of gains as we have seen this week...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1191.1 5.5 points 0.47 percent
Dow Jones Industrial Average (DJIA) 10493.2 29 points 0.3 percent
Nasdaq Composite (COMP) 2042.6 11.9 points 0.59 percent
Russell 2000 (RUT) 610.5 2.6 points 0.42 percent
CBOE Market Volatility Index (VXO) 12.34 -0.57 points -4.4 percent

...but it was yet another victory for the bulls...and overall...

...most groups traded higher on the session. Oil was lower on the day but oil related stocks showed some strength.

A quick glance of the calendar shows tomorrow is rather light in terms of scheduled events which would seem to argue for a breather in line with what I talked about in the post below. Of course, with tomorrow being expiration, anything can happen....

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Stocks quoted in this article:

To go along with the intraday chart I just posted, check out the daily chart...


Created with SuperCharts by Omega Research

Today's last minute push has brought the SPX back to the highs from April. Given that a good deal of buying power has been used up in the past few days, this zone might prove a speed bump while the 50-day average should provide some support...

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Into the Close

by 5/19/2005 4:09 PM
Stocks quoted in this article:

The bulls were successful in their late-day push...


Chart Courtesy of Thomson/ILX

...at least in terms of keeping the SPX near its session highs...



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