Schaeffer's Trading Floor Blog

I Am Back

by 3/2/2005 11:22 AM
Stocks quoted in this article:

I am back from my meeting in record time...and I now have new favorite leader for meetings. If there is one thing I like - it is get-right-to-the-point and get-it-done efficiency! Thanks Mark.

And it looks like things are heating up in the market as NYSE net ticks have been active and the SPX has taken out last week's high...


Chart Courtesy of Thomson/ILX

At first glance, it appears that some are attributing the surge to Greenspan's testimony...

Don't forget, 1218 or so is the annual high on the SPX and should be the "big level" to watch...


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I'll Be Back...

by 3/2/2005 10:54 AM
Stocks quoted in this article:

And now the bad news...I have been called into a meeting so I will have to step away from the action. I am not sure how long it will take but I will be back to posting as soon as I can - wish me luck on a short meeting!


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Stocks quoted in this article:

Today I want to check back on a stock that has been on my radar screen for awhile...but has yet to really do anything...Pixar (PIXR) as it just tripped an alert I had set.

Last month I noted their earnings and monthly chart . The stock failed to rally on this news, but has been steadily slinking higher...


Created with SuperCharts by Omega Research

A check of the stock's equity scorecard shows a healthy reading of 8.5 and the data below still looks encouraging. It would appear the stock just needs a catalyst to spur the momentum....

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 12%
  • Number of analysts tracked by Zacks: 17
  • Short interest as a percent of float: 20.6%
  • Short interest ratio: 5.795
  • Put/call ratio percent rank: 86.5%

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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 yesterday'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 by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
Continental Airlines, Inc. (CAL) 13.7 23.6 12.18 -1.72
FuelCell Energy, Inc. (FCEL) 9.7 15.6 11.85 0.17
Shanda Interactive Entertainment Limited (SNDA) 8.7 17.4 32.85 -1.10
Kos Pharmaceuticals, Inc. (KOSP) 7.6 13.2 35.77 -1.01
Kulicke and Soffa Industries, Inc. (KLIC) 6.9 11.5 6.93 -1.30
Sina Corporation (SINA) 6.9 16.6 30.50 0.10
Wild Oats Markets, Inc. (OATS) 6.8 13.1 6.89 -0.73
Great Atlantic & Pacific Tea Company, Inc. (The) (GAP) 6.6 38.7 11.85 -0.25
Alaska Air Group, Inc. (ALK) 6.0 14.7 30.05 -0.73
Cypress Semiconductor Corporation (CY) 5.8 13.7 14.89 -3.16
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At the Open

by 3/2/2005 9:44 AM
Stocks quoted in this article:

The indices are moving and here is what I see...

Right off the bat you can see the negative bias...though be aware that the scale on the graph is somewhat narrow so the skew seems a little larger than it is. Semis are taking the lead on the downside action which is worth noting as they trade under resistance - I know I have hammered that point to death but I want to make sure it doesn't get missed.

The commodity groups were weak yesterday and today we see gold down while oil and natural gas are flat to slightly positive.

In recent commentaries I have discussed some concerns on networkers and internet stocks (YHOO and ASKJ in particular) so that is what I am watching this morning...

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