Schaeffer's Trading Floor Blog
Stocks quoted in this article:

So much for making a stand...The SPX has pushed to a new low for the session and broken below Monday's low. A check of today's top and bottom performing Exchange Traded Funds (ETFs) shows ...

Top Performing Sector Exchange Traded Funds:

  • Internet HOLDRS (HHH) = +1.49 percent
  • iShares GS Networking (IGN) = +0.58 percent
  • Biotech HOLDRS (BBH) = +0.46 percent
  • streetTRACKS Gold Shares (GLD) = +0.35 percent
  • iShares C&S Realty Majors (ICF) = -0.16 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = -0.19 percent
  • Utilities HOLDRS (UTH) = -0.30 percent
  • Wireless HOLDRS (WMH) = -0.36 percent

Bottom Performing Sector Exchange Traded Funds:

  • iShares S&P SmallCap 600 Index (IJR) = -1.46 percent
  • Energy Select Sector SPDR (XLE) = -1.57 percent
  • iShares Russell 2000 Index (IWM) = -1.57 percent
  • iShares GS Natural Resource (IGE) = -1.62 percent
  • Materials Select Sector SPDR (XLB) = -1.66 percent
  • iShares DJ US Energy (IYE) = -1.69 percent
  • Pharmaceutical HOLDRS (PPH) = -1.80 percent
  • iShares DJ US Basic Materials (IYM) = -2.00 percent

...that internet, networking, biotech and gold are holding gains while the rest of my list is trading lower...

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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Into the Last Hour

by 4/20/2005 3:11 PM
Stocks quoted in this article:

We enter the last hour of trading with the SPX near 1142 and NYSE net ticks spiking... If the bulls have the power to make a stand - now would be a good time...

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MXIM

by 4/20/2005 2:59 PM
Stocks quoted in this article:

I have received some comments regarding Maxim Integrated Products (MXIM)...which is a stock I featured last week in Two Stocks To Keep a Watchful Eye On....

The shares are currently pushing below their January lows. Here is the updated sentiment picture...

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 65%
  • Number of analysts tracked by Zacks: 23
  • Short interest as a percent of float: 3.3%
  • Short interest ratio: 1.724
  • Put/call ratio percent rank: 78.9%

Analysts are still firmly in the bullish camp and short interest, which is only updated once a month, is still negligible. The put/call ratio, on the other hand, has started to tick towards skepticism. However, with the shares tagging a new annual low today, I am not sure that the uptick in the put/call ratio is enough to constitute a "fear spike"...


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Technical Note

by 4/20/2005 2:31 PM
Stocks quoted in this article:

For what it is worth...the SPX just ticked below 1142 (Friday's close) and is pushing in on 1139 (Monday's low)...


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Readers Respond - Energy?

by 4/20/2005 2:29 PM
Stocks quoted in this article:

Dave says - "The S&P is solidly up against the 200MA, support is at 1140, resistance at the highs of the day and 1163. a rally to close at the opening price would leave an ugly candlestick shadow. a break of 1140 might be useful for the bulls, because the shorts would load up, giving the bulls ammunition. The Semi's are in bad shape, but what's wrong with energy? "

My response - Interesting thoughts - thanks for sharing them. I agree with the support and resistance comments, however, I am not sure that a break of 1140 will be useful as I think it would only hurt the bull's psychology (note - please do interpret this as I am not saying I am "right" - I just have a different view) . I also find the lackluster action semis disconcerting.

As far as what is "wrong" with energy, I am not sure I would say anything is wrong - yet. As the weekly chart below of the Energy Select Sector SPDR (XLE) shows...


Created with SuperCharts by Omega Research

The group has made a strong run so some consolidation is to be expected. I wouldn't be concerned about a lack of movement, but a breakdown below the recent lows would be sign that perhaps I am missing something...


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