Schaeffer's Trading Floor Blog

I Am Back

by 4/20/2005 12:03 PM
Stocks quoted in this article:

Sorry about that...I was pulled away into a meeting and didn't get a chance to give you a heads up. Looking at the chart below, it seems like a missed a quick uptick that was quickly reversed.


Chart Courtesy of Thomson/ILX

Overall the broad market indices are quiet as the mull around breakeven. I am going to do a quick scan to see what is on the move and then I have some reader questions to address....


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Stocks quoted in this article:

As usual, this table lists stocks that have at least 10 percent of their float sold short and then shows the top ten based on the previous day's gain. The last field shows how the stock is performing in today's session. This can be a useful tool for finding situations where stocks with heavy short interest have begun to move. All returns are shown in percentages.

Note - more information on short interest can be found by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
ADTRAN, Inc. (ADTN) 13.3 10.8 20.26 7.21
Healthcare Services Group, Inc. (HCSG) 12.6 10.9 23.93 2.30
Sierra Wireless, Inc. (SWIR) 11.1 20.3 7.90 -1.91
ICU Medical, Inc. (ICUI) 10.6 23.9 35.18 5.45
Nordic American Tanker Shipping Limited (NAT) 9.2 15.7 46.75 0.96
Navarre Corporation (NAVR) 8.4 34.9 7.59 0.00
Royal Gold, Inc. (RGLD) 7.9 14.4 19.03 2.42
Allscripts Healthcare Solutions Inc (MDRX) 7.7 15.8 14.06 -1.94
Southern Peru Copper Corporation (PCU) 7.6 12.3 59.20 -1.39
KFX Inc. (KFX) 7.3 31.6 12.29 -1.71

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Chart Chatter - SPX vs VXO

by 4/20/2005 10:37 AM
Stocks quoted in this article:

Last week I updated the chart of the SPX and CBOE Market Volatility Index (VXO) that we have been following for some time and wanted to touch back on this...


Created with SuperCharts by Omega Research

Both the indices pushed through their support/resistance levels last week and are now moving back to towards them. The SPX has a little room to rally yet while the VXO has already retreated back to the area that had marked prior peaks.

While I do think that there is a limit to how much you could expect the VXO to "conform" to traditional technical analysis, the chart has been acting in very orderly fashion. The VXO "broke out" above the recent peaks and topped out near the peak from October. It has now "pulled back" to "test" the prior resistance as support.

Some have argued that this analysis is pure claptrap and reflects nothing more than a mirror image of the OEX/SPX. At some level I actually agree with that assessment. However, this chart served as a good warning in mid-March when the trendlines broke so it might be something to at least keep in mind...

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Stocks quoted in this article:

Following the post below...here are those showing a negative return...

  • Ford Motor (F) -0.2%
  • Honeywell (HON) -0.5%
  • Continental Air (CAL) -0.7%
  • Kraft Foods (KFT) -0.9%
  • General Dynamics (GD) -1.2%
  • Altria (MO) -1.3%
  • XTO Energy (XTO) -1.8%
  • Harrah's (HET) -3.1%
  • Cheesecake Factory (CAKE) -3.5%
  • Linear Tech (LLTC) -3.8%
  • The Medicines Co (MDCO) -4.9%
  • CheckFree (CKFR) -5.6%
  • USANA, Inc (USNA) -6.1%
  • Avaya (AV) -20.1%


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Stocks quoted in this article:

Given the sheer number of stocks reporting earnings, I thought I would take a different approach...I took a select list of stocks that were scheduled to report either last night or this morning before open and set up a spreadsheet to calculate today's percent return. The list below shows those with a positive reaction, sorted by the percent move. In moment I will post those showing a negative reaction...

  • Juniper Networks (JNPR) +8.5%
  • St. Jude Medical (STJ) +8.1%
  • Tellabs (TLAB) +7.2%
  • Caterpillar (CAT) +5.0%
  • Gilead Sciences (GILD) +4.9%
  • Seagate Tech (STX) +4.7%
  • Yahoo! (YHOO) +4.5%
  • PPD Inc. (PPDI) +2.5%
  • Stryker (SYK) +2.3%
  • Intel (INTC) +2.4%
  • United Tech (UTX) +1.6%
  • JP Morgan Chase (JPM) +0.9%
  • AMR Corp (AMR) +0.9%
  • Teradyne (TER) +0.4%
  • Wyeth (WYE) +0.3%

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