Schaeffer's Trading Floor Blog

Here We Go

by 5/16/2005 9:55 AM
Stocks quoted in this article:
In early trading the market has put on a little bounce here as the Dow is up 38 points, the Nasdaq five points, and the S&P 500 four points. Turning to the other markets that we follow oil is down 69 cents, the dollar is up 0.02, and gold is down 80 cents. Other than that there really isn't much news out there.

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Stocks quoted in this article:
Good morning! One thing I like to do over the weekends is take a big picture perspective on the market and various stocks. As I try to help Nick out this morning, one stock that I found of interest this weekend and perhaps worthwhile pointing out to you is Southern Peru Copper (PCE: scorecard, quote, chart) . The shares are off about 35 percent from their March '05 all-time high (note how close this is to a key Fibonacci number of 38.2 percent). Of interest is that the shares' low last week was at the uptrending 20-unit monthly moving average. Sentiment on the stock is very negative, with the short interest ratio over 13 times average daily volume and 12.5 percent of the float. In addition, according to Zacks, there are three strong sells on PCU, one hold and only one buy. If you are one that likes to buy into scary declines, PCU might be one to look at, but keep your stops tight, as volume recently picked up on the most recent selloff in the shares.
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Good Morning

by 5/16/2005 8:06 AM
Stocks quoted in this article:

We kick off the trading week with S&P futures trading two and a half points above fair value. Gold is down 80 cents to 419.90. Oil is down 52 cents to 48.15.

Unfortunately, for me, I will be away from desk for most of this morning and early afternoon. However, don't despair, as some of my friends will be jumping in here to make sure you stay abreast of all of today's action...

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Today's Percent Returns

by 5/13/2005 5:03 PM
Stocks quoted in this article:

Looking at the indices relative to each other highlights the mixed action of the day...

Semis were the strongest group while gold stocks finished near their session lows as the weakest group. Interestingly enough, a look at the percent returns for the week echoes a similar theme...

For the most part we see a negative bias on the week as bonds and a few tech indices were the only ones to show gains. You can also see that oil related groups struggled as did gold stocks. More information on this week's action can be found in my ETF column on the homepage.


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Final Figures

by 5/13/2005 4:31 PM
Stocks quoted in this article:

Here is how the broad market indices settled on the day...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1154.1 -5.3 points -0.46 percent
Dow Jones Industrial Average (DJIA) 10140.1 -49 points -0.5 percent
Nasdaq Composite (COMP) 1976.8 12.9 points 0.66 percent
Russell 2000 (RUT) 582.0 -4.9 points -0.83 percent
CBOE Market Volatility Index (VXO) 16.71 0.97 points 6.2 percent

For the most part we see a mixed picture as the COMP, which appeared to be helped by Dell induced good feelings, held gains on the day while the other indices showed mild losses. As we saw in the post below - Today's Leading/Lagging Exchange Traded Funds - a number of technology groups showed gains on the day, led by the semis.


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