Schaeffer's Trading Floor Blog

At the Open

by 6/14/2005 9:52 AM
Stocks quoted in this article:

The opening bell has rung and here is what I see...

With 20 minutes of trading under our belts it appears that "flat" is still the name of the game as the "biggest" movers are only up barely more than half a percent...


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Stocks quoted in this article:

In a post last week on Amdocs Ltd (DOX) I said..."Given the overwhelming enthusiasm from the Street that I noted yesterday, don't be surprised to see some try to defend the stock"...

Today I see that Smith Barney (who recently "discovered the internet") is recommending that you buy into the Amdocs weakness...

And "curiously" enough, this rally cry comes right as the stock is on the verge of breaking near-term support...


Created with SuperCharts by Omega Research


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PPI vs Retail Sales

by 6/14/2005 8:47 AM
Stocks quoted in this article:

The overall producer price index was down 0.6 percent in May while the core rose 0.1 percent. According to the Dow Jones Newswires expectations called for the overall PPI to decrease 0.2 percent and for the core to rise 0.2 percent. This was the largest decline in the PPI in two years and gave stock futures a quick pop...


Chart Courtesy of Thomson/ILX

However, a disappointment from the retail sales figures put a damper on the mood and the S&Ps are now back to where they were before the report...and back to pointing towards a flat open...


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Good Morning

by 6/14/2005 7:57 AM
Stocks quoted in this article:

As you might expect...given all the reports looming this week...the action this morning is rather tame as we find S&P futures trading near fair value ahead of this morning's PPI report. Gold is down 2.30 to 428.80. Oil is down 41 cents to 55.21.

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Final Figures

by 6/13/2005 5:12 PM
Stocks quoted in this article:

For the most part, the broad market indices finished relatively flat...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1200.8 2.7 points 0.23 percent
Dow Jones Industrial Average (DJIA) 10522.6 10 points 0.1 percent
Nasdaq Composite (COMP) 2069.0 6.0 points 0.29 percent
Russell 2000 (RUT) 629.0 2.7 points 0.43 percent
CBOE Market Volatility Index (VXO) 11.50 -0.12 points -1.0 percent

Small caps showed a small gain but the rest were flat...

Overall, the sector action mirrored what we saw in the broad market indices - a minor upside bias but few big gainers. Gold stocks and natural gas stocks led the day with gains just over one percent. Bonds were the largest decliner but that move was muted. And, of course, we have the rally in oil.

As I noted earlier, there are a number of economic reports due out this week. Starting with tomorrow's PPI which is where I will pick up in the morning...

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