Schaeffer's Trading Floor Blog

At the Close

by 6/13/2005 4:08 PM
Stocks quoted in this article:

The closing bell has rung...thankfully...and put today's action behind us...

Chart Courtesy of Thomson/ILX

There doesn't appear to be much in the way of noteworthy action here as an early morning buying binge was slowly unwound throughout the afternoon amid rising oil prices and looming economic reports...

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Did I Say That

by 6/13/2005 3:34 PM
Stocks quoted in this article:

Oh the fun you can have with translations...I spoke to reporter from the Financial Times Germany on Friday, the excerpt below is what I get when I plug my quote into some free translation software on web...

    After Greenspan week past already to all essential subjects of informations given has, reckon I not with large surprises", said nod Perry

I can only hope the text above is due to a software translation glitch and not the exact phrases I used..."reckon I not"???

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Into the Close

by 6/13/2005 3:24 PM
Stocks quoted in this article:

The SPX has now drifted back to tag breakeven as we head toward the close...a spike in oil is being cited but the buying activity seems to have just dried up as the session has gone along. As my colleague Joe Sunderman pointed out this morning we have the PPI, CPI, and a host of other reports due out this week, in addition to the Fed Beige book so perhaps some are waiting on those reports...Or perhaps everyone has taken the summer off already...

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Stocks quoted in this article:

Here are today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • iShares GS Software Index (IGV) = +1.27 percent
  • Telecom HOLDRS (TTH) = +1.03 percent
  • Materials Select Sector SPDR (XLB) = +0.78 percent
  • Wireless HOLDRS (WMH) = +0.77 percent
  • iShares GS Natural Resource (IGE) = +0.72 percent
  • iShares DJ US Healthcare (IYH) = +0.59 percent
  • Oil Service HOLDRS (OIH) = +0.57 percent
  • Energy Select Sector SPDR (XLE) = +0.57 percent

Bottom Performing Sector Exchange Traded Funds:

  • Financial Select Sector SPDR (XLF) = +0.07 percent
  • Utilities HOLDRS (UTH) = +0.06 percent
  • Regional Bank HOLDRS (RKH) = +0.05 percent
  • iShares S&P SmallCap 600 Index (IJR) = -0.04 percent
  • Biotech HOLDRS (BBH) = -0.07 percent
  • iShares GS Semiconductor (IGW) = -0.07 percent
  • Semiconductor HOLDRS (SMH) = -0.14 percent
  • iShares Lehman 20+ Year Treas Bond (TLT) = -0.59 percent

There is an upward bias but the moves are still mostly quiet with only software and telecom penetrating the one percent threshold....

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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Checking Back on BEBE

by 6/13/2005 2:48 PM
Stocks quoted in this article:

The action continues to meander...despite a spike in NYSE net ticks that led me to (erroneously) hope the action was picking up.

I was looking around for stocks of interest and bebe stores (BEBE) caught my eye. When I last checked on the shares I noted at stock split was coming. Here is what the split adjusted chart looks like...

Created with SuperCharts by Omega Research

The shares are still holding above the intermediate-term support zone which is also the site of the ascending 50-day moving average. You can also see a short-term support zone which is the site of the recent gap higher. The shares are in the process of trying to bounce from this support so that is something to watch...


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