Schaeffer's Trading Floor Blog

Tonight's Earnings

by 4/19/2005 1:03 PM
Stocks quoted in this article:

For those looking for some excitement...the list below shows some of the companies that are scheduled to report earnings tonight...

  • Avaya (AV)
  • CheckFree (CKFR)
  • Cheesecake Factory (CAKE)
  • Gilead Sciences (GILD)
  • Intel (INTC)
  • Juniper Networks (JNPR)
  • Kraft Foods (KFT)
  • Linear Tech (LLTC)
  • PPD Inc. (PPDI)
  • Seagate Tech (STX)
  • Stryker (SYK)
  • Teradyne (TER)
  • USANA, Inc (USNA)
  • Yahoo! (YHOO)

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Index Check

by 4/19/2005 12:42 PM
Stocks quoted in this article:

As was the case yesterday...the NYSE net ticks spike I noted below failed to gain traction and the major indices are trading below their session highs. Overall, we see...

...a picture that is similar to what we saw at the open with most groups trading in positive territory...the biggest difference is that housing shrugged off the lower open to trader higher....networking is still in the lead but oil and gold stocks are following closely behind...it is also worth noting that internet stocks are not able to catch a bid in today's rally...


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Two for the Price of None

by 4/19/2005 11:28 AM
Stocks quoted in this article:

Two random facts to note...

  1. My alert for NYSE net ticks hit as SPX has moved back towards its highs of the day.
  2. Even after IBM's gap lower, a check of Zacks shows that 11 of the 18 analysts (61 percent) still rank IBM with a "buy" rating.


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Checking Back on FLEX

by 4/19/2005 11:23 AM
Stocks quoted in this article:

As I went through some charts last night, I made myself a reminder note to check back on Flextronics International (FLEX) which I expressed some concerns on last month. Below is an updated version of the chart from that post...


Created with SuperCharts by Omega Research

As you can see, the stock has now pulled back to its former lows from August. A break of this support opens up the possibility of the lows from late-2002 being retested.

I had intended to update this chart this morning but didn't get around to it until now. Which is good...because I just saw a research note from our in-house quant expert Bob Becks, that shows the stock just triggered one of our proprietary signals that has historically shown poor performance. He also noted that the equity scorecard is still not encouraging.

I would keep an eye on this support zone...

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Stocks quoted in this article:

After a giddy start to the day...


Chart Courtesy of Thomson/ILX

...the SPX has pulled back from its morning highs. I have been looking around to try to gauge the sentiment on this morning's rally, and while my sample is admittedly limited, it appears that "relieved" has been the word of the day.

While snapback rallies amid downtrends do happen - and are known to be notoriously swift and furious - I find it hard to believe that this was ultimately "it" on the downside. Could is be that easy for the bulls? Anything is possible, but the market is known for being anything but easy...

Earnings cross-currents will likely be a big factor in the near-term and this has the potential to create a good deal of choppy moves. As for me, I am still keeping an eye on the zone near 1160 as resistance...

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