Schaeffer's Trading Floor Blog
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In response to my post on IBM, Dave says - "Note to the resident cynic: What do you bet that the next ten points are higher, and IBM rallies back to 85?...How about one of your t-shirts versus one of mine?"

My response - One of the lessons I have learned is not to get emotionally attached to stocks and positions. In my experience, it is best to set objective targets and stops in order to limit emotion.

However, I think that this might make for an interesting challenge so I accept...

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Buying - Again

by 6/9/2005 3:09 PM
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My alert for NYSE net ticks has become active again as we enter the final hour of trading...For the most part, the broad market indices are still below their highs from earlier today. The exception is the RUT which is making a new session high and outpacing the SPX, DJIA and COMP...


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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:

  • Oil Service HOLDRS (OIH) = +3.09 percent
  • iShares DJ US Energy (IYE) = +2.35 percent
  • Energy Select Sector SPDR (XLE) = +2.26 percent
  • Biotech HOLDRS (BBH) = +2.15 percent
  • iShares GS Natural Resource (IGE) = +1.63 percent
  • iShares Nasdaq Biotechnology (IBB) = +1.57 percent
  • Semiconductor HOLDRS (SMH) = +1.30 percent
  • iShares GS Semiconductor (IGW) = +1.21 percent

Bottom Performing Sector Exchange Traded Funds:

  • iShares Lehman 20+ Year Treas Bond (TLT) = -0.22 percent
  • Telecom HOLDRS (TTH) = -0.30 percent
  • iShares DJ US Industrial (IYJ) = -0.31 percent
  • streetTRACKS Fortune 500 Index (FFF) = -0.31 percent
  • iShares DJ Transportation Average (IYT) = -0.47 percent
  • iShares DJ US Basic Materials (IYM) = -0.51 percent
  • Wireless HOLDRS (WMH) = -0.53 percent
  • Materials Select Sector SPDR (XLB) = -0.61 percent

Oil and energy are in the lead today but biotech and natural resources aren't far behind. On the downside we see small losses in materials and wireless.

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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New Project

by 6/9/2005 2:16 PM
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A number of you have asked me when the new Advanced Home Study Program project will begin and when you should place your orders...

My goal is to begin the interactive session in early July. That should give you enough time to receive the study course and get comfortable with it. If you have not done so yet, you can order the Advanced Home Study Program here.

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Index Check

by 6/9/2005 1:54 PM
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Despite a decent number of spikes from NYSE net ticks, the bulls have failed to push the major indices away from the breakeven market....

The COMP/NDX/RUT are leading the SPX and DJIA but not by a wide margin as gains are capped at around half a percent...Semis are slightly higher (but still below resistance) ahead of Intel's report...oil related stocks are extending their intraday advance as they bounce back from yesterday's disappointing finish.

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