Schaeffer's Trading Floor Blog

Watch Yahoo

by 4/12/2005 1:35 PM
Stocks quoted in this article:

Regular readers have seen me discuss Yahoo (YHOO) more times than I can count...and it is usually regarding the optimistic sentiment on the stock. When I touched on the stock at the end of March I said "Yahoo has some of the big guns trying to pull the stock higher so you have to respect that. The key is let that pass and wait for that support to dry up..." I just pulled up the updated version of this weekly chart that has piqued my interest as the shares have stalled out at the former support zone we had been watching

Created with SuperCharts by Omega Research

Given that optimism still dominates the sentiment landscape, it might be worthwhile to watch what happens here as a roll-over may shake some of the bulls loose...

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 81%
  • Number of analysts tracked by Zacks: 21
  • Short interest as a percent of float: 6.3%
  • Short interest ratio: 3.476
  • Put/call ratio percent rank: 6.7%


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Into the FOMC

by 4/12/2005 1:18 PM
Stocks quoted in this article:

We inch toward the release of the FOMC minutes with the major indices still sitting near the lows...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1172.5 -8.7 points -0.74 percent
Dow Jones Industrial Average (DJIA) 10370.5 -78 points -0.7 percent
Nasdaq Composite (COMP) 1976.1 -16.0 points -0.80 percent
Russell 2000 (RUT) 602.1 -5.1 points -0.84 percent
CBOE Market Volatility Index (VXO) 13.02 0.43 points 3.4 percent

I just put the finishing touches on my homepage column and sent it off to be edited so it should be live shortly. The other point on MXIM that is worth noting is the data below that shows a snapshot of analyst ratings from Zacks.

As you can see, ratings have become decidedly more optimistic since November as it appears some on the Street may be expecting the January bottom to hold. While I wouldn't yell "stampede" yet, I would keep a cautious eye on the stock should it start to drift lower...


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Speaking of the Semis

by 4/12/2005 12:14 PM
Stocks quoted in this article:

A semi related stock has caught my eye... I was running a scan for my weekly homepage column and Maxim Integrated Products (MXIM) made the list with the points below...

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 67%
  • Number of analysts tracked by Zacks: 24
  • Short interest as a percent of float: 3.3%
  • Short interest ratio: 1.724
  • Put/call ratio percent rank: 60.7%

The shares show little skepticism but the weekly charts shows that the stock has been in a downtrend since January 2004. The stock is still holding above support near 38, and I would keep a cautious eye on shares should they break that support.

For those who just can't get enough of my ramblings, the full commentary should be posted on the homepage later this afternoon...


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Index Check

by 4/12/2005 12:06 PM
Stocks quoted in this article:

The indices appear to have stabilized near their lows and here is what the overall picture looks like...

Bonds and housing are holding near breakeven while the rest dance below breakeven...Oil has reversed lower and oil stocks have moved with crude...Semis continue to trade below support...Gold is showing a small loss, but gold stocks have sold offer the entire session as the HUI breaks below its recent range and heads towards February's low near 190.


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by 4/12/2005 11:01 AM
Stocks quoted in this article:

We are an hour and a half into the session and the market is still searching for an intraday bottom...

Chart Courtesy of Thomson/ILX

The headlines seem quiet so it looks like run of the mill selling pressure...

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