Schaeffer's Trading Floor Blog

Good Morning

by 5/5/2005 8:00 AM
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We start the trading day on a somewhat volatile note as news filters out that toy grenades filled with gunpowder exploded outside the British consulate in New York City this morning. S&P futures have sold-off from their overnight highs but have now rebound a bit. With an hour and a half until the open, the S&Ps sit a little over two points below fair value. Gold is up 1.20 to 431.20. Oil is up 48 cents to 50.61...


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Final Figures

by 5/4/2005 5:06 PM
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Overall, we see a solid rally today...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1175.7 14.5 points 1.25 percent
Dow Jones Industrial Average (DJIA) 10384.6 128 points 1.2 percent
Nasdaq Composite (COMP) 1962.2 29.1 points 1.51 percent
Russell 2000 (RUT) 595.2 10.7 points 1.84 percent
CBOE Market Volatility Index (VXO) 13.13 -1.49 points -10.2 percent the major all gain at least one percent...

Here we see a similarly strong picture as bonds were the only group from this list to show a decline on the day. One percent gains were the norm and a number of groups pushed past two percent.

Earlier this morning I said that if the bulls were going to make a run, the stage had been set. The bulls took advantage of the situation and made a push higher. Tomorrow morning I will update my index charts to show where the major indices stand...


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At the Close

by 5/4/2005 4:28 PM
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The bulls were indeed able to keep a bid under the market...

Chart Courtesy of Thomson/ILX the SPX closed near its session highs...

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Into the Close

by 5/4/2005 3:27 PM
Stocks quoted in this article:

We head toward the close with the bulls keeping a firm bid under the market. In fact, my alert for NYSE net ticks just hit as the SPX pushes to another new high for the session. Barring a last minute barrage of selling, it looks as if the broad market indices will book solid gains on the day...


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

Top Performing Sector Exchange Traded Funds:

  • Internet HOLDRS (HHH) = +3.53 percent
  • iShares GS Semiconductor (IGW) = +1.94 percent
  • Wireless HOLDRS (WMH) = +1.92 percent
  • iShares DJ US Financial Sector (IYF) = +1.88 percent
  • Financial Select Sector SPDR (XLF) = +1.86 percent
  • Regional Bank HOLDRS (RKH) = +1.79 percent
  • Semiconductor HOLDRS (SMH) = +1.77 percent
  • iShares DJ US Financial Svcs (IYG) = +1.73 percent

Bottom Performing Sector Exchange Traded Funds:

  • Pharmaceutical HOLDRS (PPH) = +0.38 percent
  • iShares DJ US Telecom (IYZ) = +0.31 percent
  • iShares DJ US Real Estate (IYR) = +0.30 percent
  • streetTRACKS Gold Shares (GLD) = +0.28 percent
  • Utilities Select Sector SPDR (XLU) = +0.07 percent
  • Utilities HOLDRS (UTH) = +0.07 percent
  • iShares DJ US Utilities (IDU) = +0.03 percent
  • iShares Lehman 20+ Year Treas Bond (TLT) = -0.71 percent

As you can see, there is a strong upward bias as the TLT is the only ETF on my list that is not trading in positive territory. As the top of the list we a mix of technology and financials while groups such as utilities, real estate, and drugs lag the action.

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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