Schaeffer's Trading Floor Blog

Oil is Flowing

by 7/1/2005 11:23 AM
Stocks quoted in this article:
Commodities are ruling the roost today, specifically the likes of oil and oil service companies. Natural gas is one of the top performing sectors as well. Stocks in these sectors have been quite strong of late despite the strong degree of pessimism toward them. The oil, oil service, and natural gas sectors have composite Schaeffer's Equity Scorecard readings of 5.8, 5.9, and 6.1. This compares with the average sector composite scorecard rating of 5.1. <

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Stocks quoted in this article:

In Thursday's trading, there were 106 Nasdaq stocks that achieved a new annual high. Below is a filtered down list of stocks that achieved a new annual high and have a Gold Scorecard of seven or higher.


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Stocks quoted in this article:

In Thursday's trading, there were 185 stocks on the New York Stock Exchange that achieved a new annual high. Below is a filtered down list of stocks that were able to achieve new highs while sporting an Gold Scorecard reading of seven or higher.


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Futures Pointing Higher

by 7/1/2005 8:52 AM
Stocks quoted in this article:
Based on S&P futures, the market looks like it will open moderately higher after yesterday's sharp afternoon decline. Overseas markets are mostly in green as well. Look for today's trading to be light on volume being that it is the Friday before a holiday weekend. If it plays out like it usually does, volume will dry up around lunch time and taper off the rest of the day.<

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Final Figures

by 6/30/2005 5:01 PM
Stocks quoted in this article:

And while there was a bout of late-day selling...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1191.3 -8.5 points -0.71 percent
Dow Jones Industrial Average (DJIA) 10275.0 -100 points -1.0 percent
Nasdaq Composite (COMP) 2057.0 -11.9 points -0.58 percent
Russell 2000 (RUT) 639.7 -3.1 points -0.48 percent
CBOE Market Volatility Index (VXO) 11.35 0.52 points 4.8 percent

...the broad market losses were relatively contained. A check of the overall picture shows that...

...only bonds showed a moderate gain while the HGX and the XNG were able to squeak out a close above the breakeven mark. Networkers were the biggest decliner but cyclicals were close behind. All-in-all, it looks like generalized but mild selling...

I just pulled up a chart of the SPX and its worth pointing out that today's decline erases Tuesday's gain and brings the SPX near Monday's low. In other words, this large cap index has the potential to break below the lower end of the range that has been in place since the mid-May surge. Tomorrow starts a new quarter so the action should be interesting to watch. But unfortunately, I will miss it...

I am going to be out of the office tomorrow and most of next week, but (as always) some of my colleagues will be here to make sure you stay abreast of all the hot activity. I will be back in the saddle next Friday.

But before I leave, I have one last announcement. Earlier this month I said I would be putting together a project involving the Advanced Home Study Program. Many of you have sent me emails and said you have received the study course already so we will begin going over the material starting July 11.

Since I won't be here tomorrow - Have a safe and relaxing holiday weekend!

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