Schaeffer's Trading Floor Blog

Index Check

by 5/6/2005 12:28 PM
Stocks quoted in this article:

The selling pressure has pushed the SPX below breakeven so I thought it was time for a check of the major indices...

As you can see, the picture has weakened from what we saw at the open as the top half of my graph is mostly flat...oil related stocks are still holding gains but have pulled back...gold and gold stocks are still weak...


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Selling Pressure

by 5/6/2005 12:03 PM
Stocks quoted in this article:

My alert for NYSE net ticks below -1000 just hit as the SPX pushes to its low for the day...


Chart Courtesy of Thomson/ILX

This has brought the SPX back to breakeven for the session...

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Checking Back on MEE

by 5/6/2005 11:58 AM
Stocks quoted in this article:

In my weekly column for the homepage I recently wrote about Massey Energy (MEE) and just noticed the stock is now at a critical juncture...


Created with SuperCharts by Omega Research

This daily chart shows the recent double bottom at support and the break out of the recent downtrend. However, the shares appear to be having a bit of trouble at their 50-day moving average. A run through the numbers below shows the picture is still skewed toward skepticism, though Wall Street opinion has ticked higher.

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 50%
  • Number of analysts tracked by Zacks: 12
  • Short interest as a percent of float: 13.3%
  • Short interest ratio: 6.742
  • Put/call ratio percent rank: 72.6%

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Intraday Action

by 5/6/2005 11:11 AM
Stocks quoted in this article:

I wanted to give the market a chance to settle into a grove to see how the pre-open strength played out...


Chart Courtesy of Thomson/ILX

As you can see, the bulls appear to be having trouble gaining momentum as the SPX has settled into an intraday downtrend. The chatter on the wires focuses the bounce back in oil as crude pushes to 52.

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Stocks quoted in this article:

As usual, this table lists stocks that have at least 10 percent of their float sold short and then shows the top ten based on the previous day's gain. The last field shows how the stock is performing in today's session. This can be a useful tool for finding situations where stocks with heavy short interest have begun to move. All returns are shown in percentages.

Note - more information on short interest can be found by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
Dendreon Corporation (DNDN) 17.0 47.4 5.98 -4.52
Martha Stewart Living Omnimedia, Inc. (MSO) 16.2 84.9 23.89 3.56
Talbots, Inc. (The) (TLB) 12.4 14.4 28.83 1.42
Jarden Corporation (JAH) 11.9 15.1 49.02 0.96
Chico's FAS, Inc. (CHS) 10.6 17.1 29.34 -0.75
RealNetworks, Inc. (RNWK) 9.1 11.4 6.95 2.74
Hudson Highland Group, Inc. (HHGP) 8.4 17.5 14.89 2.42
Blue Nile, Inc. (NILE) 7.8 23.8 27.48 0.95
Trident Microsystems, Inc. (TRID) 6.0 13.4 17.90 1.06
bebe stores, inc. (BEBE) 6.0 36.0 35.29 -1.62

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