Schaeffer's Trading Floor Blog

Index Check

by 3/1/2005 2:00 PM
Stocks quoted in this article:

The day is creeping away from me...so 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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Net Ticks

by 3/1/2005 11:55 AM
Stocks quoted in this article:

NYSE net ticks just spiked above 1000...


Chart Courtesy of Thomson/ILX

As you can see, the SPX had been drifting lower and this bout of buying put a bounce in the index's step. Friday's close, which was the closing high for the 2005, was just north of 1211...


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And the T-Shirt Goes To...

by 3/1/2005 11:33 AM
Stocks quoted in this article:

Many thanks to all who participated in last Thursday's giveaway. Ted will receive a Schaeffer's Gold T-shirt and has been notified via email - congratulations!


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