Schaeffer's Trading Floor Blog

Drifting Toward the Open

by 3/7/2005 9:13 AM
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Things are relatively quiet as we meander toward the open...The action in S&P futures seems light and they are jumping around. They just bounced off their overnight lows and are back to sitting two points above fair value...gold is down a point and a half...oil is down 48 cents...

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Tick-Tock

by 3/7/2005 9:07 AM
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News Review

by 3/7/2005 8:37 AM
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I have been scanning a number of publications to see what the buzz is...For the most part, it doesn't seem too much out of line with what you might expect...a lot of review about how the employment report was "just right"...some chatter about the new highs on the Dow...even some light chatter about how the COMP has lagged.

Overall I don't see too much that stands out. This week's calendar is rather light so it seems that many expect a consolidation.

On the individual stock level....Cisco received a positive mention in Barron's as a possible value play. (You might remember on Friday that the Wall Street Journal mentioned the stock in a column about growth funds that I discussed in - "Grrrrr.....@#$#@!@#")....

Yahoo is getting favorable mention as Merrill Lynch defends the stock....

News is trickling out from the College of Cardiology meeting that I discussed on Thursday. As you might expect, opinions are flying as company execs tout different points and "experts" chime in. What I do know is BSX bounced from its lows on Thursday but is indicated lower this morning. The action in BSX, JNJ and MDT should be interesting to watch...


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Good Morning

by 3/7/2005 7:47 AM
Stocks quoted in this article:

Following last week's rally, I see a slight upside bias in stock futures. With a little more than an hour and a half until the open, S&P futures are trading roughly two points above fair value. Gold is down 40 cents to 434. Oil is down 44 cents to 53.34.

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I Forgot to Mention

by 3/4/2005 5:02 PM
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Have you clicked here for your chance to win a free T-shirt...from yesterday's "Why I Should Win!" drawing...Even if you have entered, you can do so more than once!


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