Schaeffer's Trading Floor Blog
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Good morning! Nick is taking a well-deserved vacation, so the trading floor will be keeping you up to date on items of interest throughout the rest of the week.
I thought I would lead off with highlights from the newly released short interest figures on the NASDAQ. Here are some quick highlights on Nasdaq 100 Trust and its top 10 holdings:
Nasdaq 100 Trust (QQQQ)- 2% decrease
Microsoft (MSFT) - 22% decrease
Intel (INTC) - 18% increase
Ebay (EBAY) - 35% increase

No major uptick in QQQQ short interest over the last two months, while we have seen upticks in Diamonds and Spyders.<

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Final Figures

by 5/24/2005 4:54 PM
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Below are the final numbers for the day...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1194.1 0.2 points 0.02 percent
Dow Jones Industrial Average (DJIA) 10503.7 -20 points -0.2 percent
Nasdaq Composite (COMP) 2061.6 4.9 points 0.24 percent
Russell 2000 (RUT) 613.0 0.1 points 0.01 percent
CBOE Market Volatility Index (VXO) 11.22 -0.22 points -1.9 percent

Earlier this morning I offered that I thought the FOMC might be a non-event and I guess it depends on your perspective as to whether that was true. The major indices did rally off their session lows after the release but ended the day flat.

Overall we see a mild upside bias though most groups were content to finish near breakeven. Semis bucked this tendency as did gold stocks and there was an upside bias in oil related groups.

In regard to the semis, earlier this month I noted that the SMH was breaking above congestion and that it could run back to 35 were major resistance sits. While not quite there yet, the SMH is within striking distance of that resistance so that is something to watch.

This morning I mentioned that I am working out the details for an educational opportunity for readers of this space. I wasn't able to get plans finalized today but this will be coming next week - I hope. Which brings me to my last point for the day and the week...

I will be out of the office for the next three days, but as usual, a multitude of colleagues will be jumping in to keep you abreast of all the activity. I apologize for the time away, but it is for the best as it will allow me to come back Tuesday with renewed energy.


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Into the Close

by 5/24/2005 4:15 PM
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The bulls succeeded in making a late-day push...

Chart Courtesy of Thomson/ILX

Though this was only enough to drive the SPX back to breakeven for the session...

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Another Buying Attempt

by 5/24/2005 3:14 PM
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My alert for NYSE net ticks hit right as I was posting the information below...the major indices have turned higher so perhaps the bulls are looking to make a push into the close.

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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:

  • Semiconductor HOLDRS (SMH) = +1.13 percent
  • iShares GS Semiconductor (IGW) = +0.68 percent
  • Biotech HOLDRS (BBH) = +0.67 percent
  • Energy Select Sector SPDR (XLE) = +0.60 percent
  • iShares DJ US Energy (IYE) = +0.46 percent
  • iShares GS Natural Resource (IGE) = +0.44 percent
  • iShares Lehman 20+ Year Treas Bond (TLT) = +0.32 percent
  • Oil Service HOLDRS (OIH) = +0.32 percent

Bottom Performing Sector Exchange Traded Funds:

  • MidCap SPDRs (MDY) = -0.57 percent
  • iShares DJ US Telecom (IYZ) = -0.65 percent
  • iShares DJ US Financial Sector (IYF) = -0.74 percent
  • Internet HOLDRS (HHH) = -0.74 percent
  • Wireless HOLDRS (WMH) = -0.96 percent
  • iShares DJ US Real Estate (IYR) = -1.28 percent
  • iShares C&S Realty Majors (ICF) = -1.32 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = -1.42 percent

Semis are perking up as the session wears on while real estate is trading down on the session. Outside those groups, the action is rather quiet....

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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