Schaeffer's Trading Floor Blog

One to Watch - AMHC

by 4/6/2005 10:01 AM
Stocks quoted in this article:

As I went through the charts of the stocks listed in the scan below, American Healthways (AMHC) caught my eye...


Created with SuperCharts by Omega Research

This weekly chart shows both the steady uptrend and the fact that the shares are in the process of trying to break above resistance. As the points below show, the Street is firmly on the sidelines while short interest is heavy. The put/call is relatively low, which is normally a warning sign, but open interest on the stock is so light that I wouldn't give this much weighting.

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 20%
  • Number of analysts tracked by Zacks: 10
  • Short interest as a percent of float: 19.2%
  • Short interest ratio: 12.40
  • Put/call ratio percent rank: 11.5%


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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 yesterday'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 by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
Biosite, Inc. (BSTE) 12.1 36.7 58.43 0.80
Northfield Laboratories Inc. (NFLD) 9.3 15.8 11.93 6.55
Napster (NAPS) 9.2 18.9 6.74 -1.04
Cree, Inc. (CREE) 7.6 18.0 22.91 6.18
eCollege.com (ECLG) 6.2 16.9 13.64 0.51
Jos. A. Bank Clothiers, Inc. (JOSB) 6.1 51.1 33.84 1.01
Shanda Interactive Entertainment Limited (SNDA) 5.7 18.6 31.70 0.73
American Healthways, Inc. (AMHC) 5.4 19.2 35.64 0.45
American Italian Pasta Company (PLB) 4.7 44.3 28.78 0.83
JetBlue Airways Corporation (JBLU) 4.6 19.7 19.44 2.67
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Investors Intelligence

by 4/6/2005 9:51 AM
Stocks quoted in this article:

The weekly figures from Investors Intelligence are out and continue to show a drift towards skepticism...

The percent bullish dropped to 47.9 (from 51.6) while the percent bearish ticked up to 29.2 (from 28.0)...

A couple of weeks ago, I asked our II authority, Bob Becks, about the uptick in skepticism and he noted in August the percent bullish was as low as 39 percent so we still have some room to drop.

You can find the Investors Intelligence chart and recent data here...

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At the Open

by 4/6/2005 9:43 AM
Stocks quoted in this article:

The opening bell has rung and here is what I see...

The broad market indices opened higher and continue to creep toward the potential resistance zones I mentioned yesterday...oil is lower...biotech is continuing yesterday's advance....as noted below, semis are benefiting from the positive comments as they try to bounce off support...housing stocks are not yet participating in today's rally...


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Semi Upgrades

by 4/6/2005 9:22 AM
Stocks quoted in this article:

I just saw something else that is worth noting....Yesterday I talked about how the semis continued to flirt with support and noted the action in BRCM. Today I see a number of upgrades on the semis and semi equipment stocks. Merrill Lynch raised ratings some semiconductor stocks, including Altera Corp.(ALTR), Maxim Integrated (MXIM), and Broadcom Corp.(BRCM)...among others.


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