Schaeffer's Trading Floor Blog

Chart Chatter - IBM and WMT

by 4/7/2005 10:45 AM
Stocks quoted in this article:

While not related to other...other than they are both over-loved large cap stocks...note the action in IBM and Wal-Mart (WMT)...

Created with SuperCharts by Omega Research

Both seem to be in somewhat precarious positions. I think this is worth watching as we watch how the broad market indices trade at the resistance I just noted below. I would seem that for the bulls to make a successful push, they would need to "rescue" some of these big cap names are on the verge...

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Stocks quoted in this article:

Given the small rally of the last few days, I thought I should update the charts I noted on Tuesday...

Created with SuperCharts by Omega Research

As you can see, I have displayed a little more data and added the 50-day moving average to offer perspective.

As I was putting this post together NYSE net ticks started to trigger my alert so it looks like we might get a test of how strong the bulls are...

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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 yesterday'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 by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
DHB INDUSTRIES INC (DHB) 15.2 16.5 9.63 -1.87
Human Genome Sciences, Inc. (HGSI) 8.2 11.1 10.02 1.00
Cree, Inc. (CREE) 8.1 18.0 24.76 -0.77
Fleetwood Enterprises, Inc. (FLE) 7.3 24.9 9.39 -0.96
Dendreon Corporation (DNDN) 5.8 47.2 5.28 -2.85
Papa John's International, Inc. (PZZA) 5.7 22.0 36.90 -0.73
P.F.Chang's China Bistro, Inc. (PFCB) 5.6 15.5 61.04 0.16
Photon Dynamics, Inc. (PHTN) 5.6 19.6 19.50 0.67
American Pharmaceutical Partners, Inc. (APPX) 5.5 25.3 58.14 -0.46
DOV Pharmaceutical, Inc. (DOVP) 5.5 10.4 14.94 -2.14
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At the Open

by 4/7/2005 9:45 AM
Stocks quoted in this article:

The tickers are blinking and here is what I see...

As expected, we see a flat open on the major indices...I added the DRG (which is the AMEX Pharmaceutical Index) to the list this morning as it is off to a rough start this morning after the FDA gave Pfizer some bad news - more information can be found in this article - FDA Asks Pfizer to Pull Bextra Off Market...

On the upside we see oil is leading the day while gold stocks try to bounce. Semis are flat as they struggle to hold short-term support. Internet stocks are trying to redeem themselves from yesterday's showing...


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Chart Chatter - HHH

by 4/7/2005 9:29 AM
Stocks quoted in this article:

I have one more quick post before the open...check out the chart below of the Internet HOLDRS (HHH)...


Created with SuperCharts by Omega Research

Last night I noted the weakness stood out and this chart of the HHH shows the group is having trouble at a zone that was support earlier this year. Yesterday's rejection was also right at the 50-day moving average... Just something to watch.


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