Schaeffer's Trading Floor Blog
Stocks quoted in this article:
Another stock that's on my bull list radar screen is NETGEAR (NTGR: scorecard, quote, chart) . For those of you who are unfamiliar, NTGR designs a range of wired and wireless networking equipment, including hubs, routers, switches, servers, and interfaces. These products are used for connecting personal computers in home and small business settings to each other. I've written about the stock in both the Daily Market Blog area and Timely Takes market observation portion of SchaeffersResearch.com. NTGR made a new 52-week high today before falling back amid the market weakness. Even so, as we enter the last hour of trading, the stock is down just over one percent. NTGR is a technical and fundamental outperformer with significant pessimism. This is just what we look for in a bullish candidate - pessimistic sentiment that runs counter to the fundamental and technical uptrend. Short interest is a whopping 20 percent of the stock's float and stands at an all-time high. I still think this one has gas left in the tank.


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Bye Bye

by 6/23/2005 3:10 PM
Stocks quoted in this article:
So much for that support I just wrote about.

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Stocks quoted in this article:
After a sharp sell off ensued around 1:30, the Spyders have found some support at their 20-day moving averages. The trendline is right at 120.61 and the stock is at 120.60 currently. A breach of this trendline could lead to a retest of the April lows down at 114. To follow-up on Beth Gaston's comments earlier, in addition to the increased optimism from options traders, the short interest on the SPY fell by almost 20 percent last month, showing yet another sign of increasing optimism.<

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Housing is Still Hot!

by 6/23/2005 2:43 PM
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Mortgage rates are continuing to fall as long-term interest rates stay low. Over the past week the rate on a 30-year fixed mortgage averaged 5.57 percent, which was down from last week's 5.63 percent. Although many analysts have put all their energy into calling a housing bubble, it doesn't seem to want to pop. As long as pessimism toward the housing sector is widespread then the boom may very well continue. Schaeffer's equity scorecard echoes this view given that the housing sector stocks have an average reading of 6.125 and the real estate investment trusts have an average reading of 6.67.<

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CBOE Put/Call Ratio

by 6/23/2005 1:01 PM
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The CBOE equity put/call ratio dipped back below the 0.6 mark yesterday for the first time since 6/10, and is threatening to turn the trend of the 21-day moving average of this indicator back to the downside. The lower the ratio goes, the more vulnerable the equity market could get to pullback. The only question is how low can it go?

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