Schaeffer's Trading Floor Blog

Don't Forget

by 2/25/2005 3:17 PM
Stocks quoted in this article:

Did you enter yesterday's drawing for your chance to win a free T-shirt? If not, you still have time...


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What About the Cubes?

by 2/25/2005 2:43 PM
Stocks quoted in this article:

We stroll through the afternoon with the bulls continuing to make a push as my alert for NYSE net ticks keeps hitting...The SPX is now peeking its head above the trendline of descending highs...The closing high from last week was also right in the 1210 range so this should make for a interesting battle.

One of the charts that did just catch my eye is the QQQQ....


Created with SuperCharts by Omega Research

Despite the fact that the SPX and DJIA are pushing toward their recent highs, the QQQQ is stuck below that resistance zone we discussed a couple of weeks ago....


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Stocks quoted in this article:

For those watching, the trendline of descending highs on the SPX was the intraday high....so far...so while that plays out, I thought I would check on today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • Energy Select Sector SPDR (XLE) = +2.23 percent
  • Utilities HOLDRS (UTH) = +2.14 percent
  • iShares DJ US Energy (IYE) = +2.14 percent
  • Utilities Select Sector SPDR (XLU) = +1.92 percent
  • iShares GS Natural Resource (IGE) = +1.84 percent
  • iShares DJ US Utilities (IDU) = +1.78 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = +1.31 percent
  • iShares DJ US Real Estate (IYR) = +1.19 percent

Bottom Performing Sector Exchange Traded Funds:

  • iShares COMEX Gold Trust (IAU) = +0.25 percent
  • iShares DJ US Consumer Services (IYC) = +0.24 percent
  • Consumer Staples Select SPDR (XLP) = +0.17 percent
  • NASDAQ 100 Trust (QQQQ) = +0.13 percent
  • iShares DJ US Technology (IYW) = +0.11 percent
  • Internet HOLDRS (HHH) = -0.21 percent
  • Software HOLDRS (SWH) = -0.40 percent
  • iShares GS Software Index (IGV) = -0.43 percent

As you can see, there is still a strong upward bias as all but three ETF from my list are higher. As a whole, energy/utilities/natural resources are leading the action while technology is lagging...

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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New Highs

by 2/25/2005 1:12 PM
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In the post below, Bob mentions natural gas...I have just added this to my index chart and I thought the monthly chart below was interesting if you haven't been following the group...


Created with SuperCharts by Omega Research

Strong breakout to new multi-year highs...

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Stocks quoted in this article:

In response to my post about the new high list, Bob says - "What's also nice about these stocks is that they have leaps. Other good energy plays, with leaps are XTO, UPL, WMB....el paso (EP) also has leaps. Look at a 3 year weekly. Lot of overhead to burn off. But we are talking leaps here. Also -- natural gas."

My response - Those stocks aren't on my radar screen as I tend to pick just a couple of favorites from a group and focus on those. (Note - this is more a function of trying to watch as many sectors as I can as opposed to judgment of which stocks are best.)

However, I thought some readers might be looking for more stocks to watch. As the charts below show, thes are all showing strong recent uptrends...

Charts Courtesy of Thomson/ILX


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