Schaeffer's Trading Floor Blog

At the Close

by 7/12/2005 4:10 PM
Stocks quoted in this article:

Through out the session we saw sporadic NYSE net tick spikes that seemed to indicate buyers were lurking. And this buying seemed to gain traction in the early afternoon, however...


Chart Courtesy of Thomson/ILX

...this failed to materialize into much as a late-day stumble saw the indices drop from their best levels...

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Stocks quoted in this article:

Peter says - "With the price of oil dropping (?) how do the airlines look?"

My response - This question was sent in last night...before today's move back above 60 on crude. But as I have discussed in the past I have never been successful in trying to gauge one group by predicting what another might do. I tend to stick with more straightforward analysis.

In this case I start by turning to the sector scan drilldown under the Special Tool Kit tab. The data below shows the stocks from that page, ranked by their scorecard readings. If you are interested in the sector I would recommend focusing on the names that show relatively healthy scorecard readings.

  • ALK 8.5
  • AAI 8
  • CAL 7
  • AMR 7
  • SKYW 5.5
  • XJT 4
  • JBLU 4
  • LUV 1.5


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Stocks quoted in this article:

Here are today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • iShares GS Networking (IGN) = +1.80 percent
  • Oil Service HOLDRS (OIH) = +1.76 percent
  • iShares GS Software Index (IGV) = +1.60 percent
  • Retail HOLDRS (RTH) = +1.38 percent
  • Software HOLDRS (SWH) = +1.34 percent
  • Wireless HOLDRS (WMH) = +1.27 percent
  • Biotech HOLDRS (BBH) = +1.26 percent
  • Energy Select Sector SPDR (XLE) = +1.09 percent

Bottom Performing Sector Exchange Traded Funds:

  • streetTRACKS Gold Shares (GLD) = +0.07 percent
  • iShares S&P SmallCap 600 Index (IJR) = +0.05 percent
  • Telecom HOLDRS (TTH) = +0.04 percent
  • Materials Select Sector SPDR (XLB) = -0.11 percent
  • Industrial Select Sector SPDR (XLI) = -0.13 percent
  • iShares DJ US Industrial (IYJ) = -0.20 percent
  • iShares DJ Transportation Average (IYT) = -0.35 percent
  • iShares Lehman 20+ Year Treas Bond (TLT) = -0.51 percent

Once again we see an upward bias as just a few of my list trade lower, with just minor losses. Advancing on the day is a mix of technology, retail and oil/energy but there doesn't appear to be a clear leader...

Note: If you are not familiar with ETFs, make sure you read the Education and FAQ sections in our ETF center.


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Stocks quoted in this article:

Another stock from my list of underloved stocks that is interesting...but not new to this space...is Quicksilver Resources (KWK). I touched on this stock last month but it has split since then so I thought I should revisit the chart...


Created with SuperCharts by Omega Research

When we last looked at the chart the shares they were trying to break above resistance near 38 (on a split adjusted basis). KWK successfully overtook that level has steadily pushed into new high territory...

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Tomorrow's Earnings

by 7/12/2005 3:01 PM
Stocks quoted in this article:

I was just scanning through the earnings calendar to see what is looming...Tonight's action is light but tomorrow night we see numbers from Advanced Micro Devices (AMD) and Apple Computer (AAPL).

The equity scorecard reading on Apple is just above neutral at six while AMD is slightly more encouraging with a reading of seven. And while I wouldn't call myself an outright fan of semiconductors this skeptical article on CNN/Money's website has my contrarian side taking a look at the stock...


Created with SuperCharts by Omega Research

The shares recently pushed above resistance that capped the shares in February and June and are now trying to break out of the "dead zone" that was the site of the January gap lower...


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