Schaeffer's Trading Floor Blog
Stocks quoted in this article:

My alert for NYSE net ticks has been signaling off and on as it looks like some buying is taking place...


Chart Courtesy of Thomson/ILX

The latest spike accompanied comments from Alan Greenspan that energy prices should pullback. This has bumped up the SPX which is pushing towards its intraday high...


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Index Check

by 4/5/2005 12:52 PM
Stocks quoted in this article:

The action has more or less drifted since the opening pop...

...as highlighted by the fact that none of the indices above are pushing through the one percent threshold.

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More on GE

by 4/5/2005 12:02 PM
Stocks quoted in this article:

Yesterday afternoon I noted some concerns on General Electric...After digging more into this I decided to write about it for my weekly column on the homepage. What spurred this was a look into the historical analyst ratings from Zacks that shows how the Street has gravitated toward the shares.

As you can see in the table below, optimism on GE has steadily picked up since 2003...which is around the time when the shares bottomed. Now the stock is showing signs of stalling as analysts are "fully on board". It may be early to ring the warning bell as the stock hasn't yet turned lower but given how top heavy the ratings are, it is something to keep in mind...

For those interested, my column should be posted to the homepage later this afternoon...but you have already seen the bulk of my thoughts...


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Chart Chatter - BRCM

by 4/5/2005 11:49 AM
Stocks quoted in this article:

Speaking of semis, one of the semi-related stocks that I am watching is Broadcom Corp (BRCM). The weekly chart shows the intermediate-term picture while the daily chart highlights the recent activity around the resistance zone...

Created with SuperCharts by Omega Research

The stock caught my eye while perusing a list of stocks with relatively low equity scorecard readings. The weekly chart shows the shares have more or less meandered sideways for the last six months. The daily chart shows how the shares have so far been unable to overtake the resistance zone.

Given the low scorecard reading, I wouldn't get too excited if the stock overtakes this zone. However, I wanted to point it out because a move below 29 would break below the very recent range and open up the possibility of a move towards its October lows...


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Still Watching Semis

by 4/5/2005 11:27 AM
Stocks quoted in this article:

Yesterday I noted the daily chart of the semis...


Created with SuperCharts by Omega Research

...and I wanted to bring is up again because my alert just tripped to let me know the group has dipped below the breakeven mark. The bulls were able to hold support at the end of the day so I will be watching to see if they can do it again...


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