Schaeffer's Trading Floor Blog
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One stock to keep an eye on tomorrow is MicroStrategy (MSTR: scorecard, quote, chart) . MSTR ended today up 1.55 percent to close at 55.50. This is the stock's third attempt in three months to break through the 55-57 region. MSTR fell hard on April 29 after announcing first-quarter earnings results. Although the company beat Wall Street's estimate by 17 cents, it was a little light on revenue. What shook the stock most was management's evasiveness in answering analysts' questions and the lack of visibility on certain key metrics. When analysts are uncertain, they'll often flee. Even so, the recovery from those lows shows that there is still some strength in the stock. Short interest increased 31 percent last month and has doubled in the last two. And its next earnings release is scheduled for later this month. If the market is able to firm up and no skeletons are found in MSTR's closet, the stock may be worth trading on the long side. One key will be its 20-week moving average. Breaks of this trendline have been key in determining inflection points and trend reversals for the stock.

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See ya Friday

by 7/7/2005 4:15 PM
Stocks quoted in this article:
That's a wrap on one of the more interesting days in recent memory. When it was all said and done the Dow had gained 0.31-percent, SPX 0.25-percent, and the Nasdaq 0.34-percent. Yes, those gains don't sound like much, but looking at the volume on the ETFs like the DIA, it looks to me like we could have just had a nice panic washout. Also the late rally in energy names really has me pretty hopeful that that bull market is getting started again.

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Stocks quoted in this article:
A quick check on the markets with less than an hour left in the trading day shows that markets have recovered nicely from their earlier losses. The Nasdaq Composite Index and Dow Jones Industrial Average are both currently posting gains of 0.21-percent on the day, while the S&P 500 Index is up a fractional 0.04-percent.

Housing stocks (as measured by the PHLX Housing Sector Index [HGX]) and the AMEX Natural Gas Index (XNG) are the biggest winners thus far, posting gains of 1.96-percent and 1.23-percent, respectively.

On the downside are crude oil futures and networking concerns, as the AMEX Networking Index is trading 1.18-percent lower.


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Arthrocare Powers Higher

by 7/7/2005 2:25 PM
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Small-cap name Arthrocare (ARTC: scorecard, quote, chart) hasn't appeared on these pages since mid-May when it was on a list of stocks that have at least 10 percent of their float sold short and are up big. ARTC is a medical device company that develops, manufactures, and markets products based on its patented Coblation technology, which offers a variety of options for physicians performing soft-tissue surgery. The firm's products allow surgeons to operate with a high-level of precision and accuracy, limiting damage to surrounding tissue and thereby potentially reducing pain and speeding recovery for the patient. ARTC still has a significant amount of its float sold short. More than 26 percent of the stock's nearly 24 million-share float is sold short. Also, its short-interest ratio is a hefty 17.5 days. The company reported positive earnings in mid-May and reiterated next year's outlook. That helped push the stock above former resistance at 33. The stock is now trading at 34.65.


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How About That Amgen?

by 7/7/2005 2:06 PM
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Adding to Rick's amazement on this market, check out biotech bell-weather Amgen (AMGN: scorecard, quote, chart) . The shares are up another five-percent today, for a three day grand total of nearly 10 percent. For a company of this size, this is a serious move. Spurring the acceleration to the upside is positive results from a Phase two study regarding their anemia drug Aranesp and its effects on a bone marrow disease known as MDS. With the shares now at their highest level since early 2004, this development is one to definitely keep your eyes on going forward.

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