Schaeffer's Trading Floor Blog

Buy?

by 4/29/2005 12:50 PM
Stocks quoted in this article:

As I look around for interesting aspects of today's session...I am brought back to my screen by a NYSE net ticks spike. This gave a bit of a bounce to the indices but has yet to gain much traction. The reason that I thought I should point this out as is that it feels like a good deal of energy has been expended on buying but all this has done is slow the descent. With some of the major indices trading at their lowest point of the year, it seems that supply has overwhelmed buying demand. This sort of widespread "distribution of stock" is concerning given that we don't appear to be at a pessimistic sentiment extreme...


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I Am Back

by 4/29/2005 12:25 PM
Stocks quoted in this article:

I am back from my meeting...and at first glance it doesn't look like I missed too much. The indices stabilized near breakeven and have mulling around there...

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I'll Be Back

by 4/29/2005 10:56 AM
Stocks quoted in this article:

As I noted yesterday...I am part of a team that is looking to add enhancements to Schaffer's Gold. I wanted to bring this up once again to encourage feedback and suggestions. This is your chance to help shape what the future may look like so let me have it!

I also wanted to let you know that I need to step away from my desk to attend a meeting on the topic. But before I go, I wanted to note how the momentum in the index chart has shifted from what we saw at the open....

Weakness in semis and internet combined with the continued poor showing from networkers seems to counter the "its all good in tech land" sentiment we discussed earlier today. And once again we see oil slipping lower but providing little solace to the overall market. Bonds continue to creep higher as the TLT hits its highest level since mid-February.

Also note - the weakness in tech/biotech has the NDX joins the COMP in making new lows for 2005. While I am gone, you might want to revisit this chart from Wednesday that highlights the recent trend of SPX...

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That Was Fast...

by 4/29/2005 10:36 AM
Stocks quoted in this article:

After an hour of trading...


Chart Courtesy of Thomson/ILX

The SPX has shaken off the pre-open enthusiasm and pulled back to breakeven. This failure to hold the opening gap is not a constructive sign...

Wow...Do I have a knack for stating the obvious or what?



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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
Multimedia Games, Inc. (MGAM) 12.5 30.2 7.55 3.59
eResearch Technology Inc. (ERES) 12.4 14.9 11.48 -1.65
Nautilus Group, Inc. (The) (NLS) 10.6 24.8 25.11 3.31
Advanced Neuromodulation Systems, Inc. (ANSI) 8.3 17.0 30.27 -0.66
FTI Consulting, Inc. (FCN) 7.5 15.7 21.56 1.90
Pantry, Inc. (The) (PTRY) 6.8 12.6 31.16 0.71
FalconStor Software, Inc. (FALC) 6.3 12.8 5.92 -2.90
Sina Corporation (SINA) 6.2 10.4 27.69 0.72
GSI Commerce, Inc. (GSIC) 5.6 14.3 16.09 -6.54
Pharmion Corporation (PHRM) 4.9 12.9 24.19 -2.23

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