Schaeffer's Trading Floor Blog

Must Read

by 5/9/2005 10:53 AM
Stocks quoted in this article:

If you have not done so already, make sure you read Bernie's latest premium column - "The Line-Up" - for the "big picture" view on the market...


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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 the previous day'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 clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
AtheroGenics, Inc. (AGIX) 11.2 26.4 13.60 -0.22
Weight Watchers International Inc (WTW) 8.6 14.3 44.79 0.16
Alpharma, Inc. (ALO) 7.8 13.1 10.89 1.38
Titanium Metals Corporation (TIE) 7.3 13.6 39.82 -2.69
MGI PHARMA, Inc. (MOGN) 5.8 12.3 22.94 4.55
Myriad Genetics, Inc. (MYGN) 5.6 22.4 17.63 -0.74
Pixar (PIXR) 5.3 22.2 48.70 0.35
Genesis Microchip Inc. (GNSS) 5.1 11.3 16.22 -1.29
aQuantive, Inc. (AQNT) 5.1 10.8 13.56 0.29
General Cable Corporation (BGC) 4.4 11.1 14.60 0.82

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At the Open

by 5/9/2005 10:00 AM
Stocks quoted in this article:

The opening bell has rung and the trading week is...

...off to a slow start. As indicated by pre-open futures action, the major indices opened flat and most groups were content to open near the breakeven mark. Of course, the exception is the broker/dealer index which is distorting the graph a bit by pushing out the scale. The XBD is being helped by AMTD which is up 20 percent and ET which is up five percent on the M&A news...


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Stocks quoted in this article:

Ameritrade (AMTD) and E*Trade (ET) were active in Friday's session and we discussed rumors that some sort of merger or acquisition was looming...Today we find out that ET sent a letter to AMTD on Friday expressing interest in acquiring them...

In other M&A news. Duke Energy (DUK) is acquiring Cinergy (CIN)...


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This Week

by 5/9/2005 8:38 AM
Stocks quoted in this article:

With the Fed and monthly employment report out of the way, the economic calendar is calmer this week. I suspect that means earnings from Wal-Mart (WMT), Cisco Systems (CSCO) and Dell (DELL) will likely be the focus. On Friday we touched on the sentiment surrounding DELL and CSCO and the notion that these stocks will be a boon for tech stocks.

As far as WMT goes, the comments I made in this Schaeffer's Daily Contrarian article should sum up my thoughts...

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