Schaeffer's Trading Floor Blog

Short Interest Data

by 3/1/2005 2:35 PM
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Interested in short interest data?...Then you might want to check out my market observation - "A List of Heavily Shorted Stocks". I took the recently released February data and filtered out stocks with a very low price and focused on stocks that have sizable short interest which was at least 20 percent of their float sold short.

If you are already familiar with short interest you can skip my column and access the data directly at the link below which will take you to a PDF file.

**Note - Adobe Acrobat can be freely downloaded at the website.


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Stocks quoted in this article:

As promised, here are today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • Semiconductor HOLDRS (SMH) = +1.77 percent
  • iShares GS Semiconductor (IGW) = +1.53 percent
  • iShares GS Networking (IGN) = +1.23 percent
  • Pharmaceutical HOLDRS (PPH) = +1.09 percent
  • Financial Select Sector SPDR (XLF) = +1.08 percent
  • iShares DJ US Healthcare (IYH) = +1.01 percent
  • iShares DJ US Financial Svcs (IYG) = +1.00 percent
  • Technology Select Sector SPDR (XLK) = +0.95 percent

Bottom Performing Sector Exchange Traded Funds:

  • iShares Nasdaq Biotechnology (IBB) = +0.03 percent
  • iShares DJ US Basic Materials (IYM) = -0.09 percent
  • streetTRACKS Gold Shares (GLD) = -0.69 percent
  • iShares COMEX Gold Trust (IAU) = -0.78 percent
  • iShares GS Natural Resource (IGE) = -1.47 percent
  • Energy Select Sector SPDR (XLE) = -1.82 percent
  • iShares DJ US Energy (IYE) = -1.91 percent
  • Oil Service HOLDRS (OIH) = -2.25 percent

This data reflects the same theme as I just noted as we see weakness in the commodity related groups. The semis top the list but the SMH has yet to overtake the resistance we have been watching.

Networking is also bouncing. I have talked about networkers recently as the group has lagged the recent broad market bounce. I will be watching to see how much the group is able to rally as it doesn't appear to have much going for it on the sentiment front.

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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Index Check

by 3/1/2005 2:00 PM
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The day is creeping away from before it is gone, I want to check in on where all this has left the indices...

All-in-all, there is a positive bias in stocks while gold, oil, and natural gas pull back...I am going to grab my ETF list in just a moment.

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Stocks quoted in this article:

My alert for NYSE net ticks has become active again, but take a look at this...

Chart Courtesy of Thomson/ILX

The buys are hitting on pull-backs but each one is running out of steam at lower levels. While this could just be intraday noise, it does hint that the bulls are having trouble gaining any traction. In other words, buying demand is quickly being met with more than enough supply...

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Stocks quoted in this article:

Stuart says - "Nick, C and EMC, why is it the more the market rallies, the more these stock fall?"

My response - If you asked 10 analysts, I am sure that you would get 10 different answers. As for me - regular readers might be able to guess that my response will be based on expectations. Yesterday I touched on Citigroup (C) and noted its low scorecard and concerning chart.

A check of today's data shows that C garners 2.5 while EMC gets a 2. (For those who haven't seen this feature, the scorecard scale goes from 0-10 with 10 being the best score a stock can receive based on our quantified model.) With that in mind, check out the recent charts...

Created with SuperCharts by Omega Research

In other words, the overall sentiment profile doesn't look good and the price action is not helpful.

If none of this strikes your interest, consider just this fact....According to Zacks, 14 of the 17 analysts (82 percent) rank C with a "buy" rating while 16 of the 21 analysts (76 percent) rank EMC with a "buy" rating.

With the Street firmly skewed in one direction, the recent poor price action may indicate the stocks are top heavy with buyers....

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