Schaeffer's Trading Floor Blog

Into the Close

by 4/12/2005 4:21 PM
Stocks quoted in this article:

As you can see...


Chart Courtesy of Thomson/ILX

The bulls kept a bid under the market right into the close...


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Still Buying

by 4/12/2005 3:38 PM
Stocks quoted in this article:

We enter the final half hour of trading with no sign of let up from the buyers... My NYSE net ticks alert has become active again as the major indices push to new highs on the session.

As you might expect, this has dramatically changed the look of the index charts I showed earlier. I would update the charts now but with momentum as strong as it currently is, I am afraid the charts would be dated by the close...

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Stocks quoted in this article:

My alert for NYSE net ticks has remained active as the broad market indices have moved solidly into positive territory. Here are today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • iShares DJ US Real Estate (IYR) = +1.54 percent
  • iShares C&S Realty Majors (ICF) = +1.49 percent
  • Biotech HOLDRS (BBH) = +1.28 percent
  • Financial Select Sector SPDR (XLF) = +1.13 percent
  • iShares DJ US Financial Sector (IYF) = +1.08 percent
  • Regional Bank HOLDRS (RKH) = +1.01 percent
  • iShares DJ US Utilities (IDU) = +1.01 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = +0.98 percent

Bottom Performing Sector Exchange Traded Funds:

  • iShares DJ US Basic Materials (IYM) = -0.42 percent
  • iShares GS Semiconductor (IGW) = -0.48 percent
  • Semiconductor HOLDRS (SMH) = -0.68 percent
  • Internet HOLDRS (HHH) = -1.13 percent
  • iShares DJ US Energy (IYE) = -1.46 percent
  • Energy Select Sector SPDR (XLE) = -1.46 percent
  • iShares GS Natural Resource (IGE) = -1.55 percent
  • Oil Service HOLDRS (OIH) = -2.34 percent

As you can see, oil and energy related groups are lagging the action as are some of the tech groups such as semis and internet. Leading the session are those groups typically associated with being sensitive to interest rates as well as biotech.

Note: If you are not familiar with ETFs, make sure you read the Education and FAQ sections in our ETF center.


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Bounce

by 4/12/2005 2:33 PM
Stocks quoted in this article:

The buying has been frenzied as the broad indices bounced from their lows and rallied all the way back to breakeven...To put this in perspective, consider this - the SPX has traded in a low to high range of more than 11 points, yet it sits less than half a point from breakeven...

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FOMC Rally

by 4/12/2005 2:16 PM
Stocks quoted in this article:

The FOMC minutes offered some hints of inflation concerns...but it appears this was not as bad as feared. My alert for NYSE net ticks has been active as the SPX (and the other major indices) pop to the upside after an initial downtick...


Chart Courtesy of Thomson/ILX


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