Schaeffer's Trading Floor Blog

Index Check

by 6/28/2005 12:51 PM
Stocks quoted in this article:

The bulls have so far been able to keep a bid under the market and here's where things stand...

For the most part we see a very similar picture to what we saw at the open...most of the groups in the upper portion of the graph are holding gains...housing stocks are still in the lead...tech stocks are still in positive territory though their strength has waned since the open...small caps are steadily gaining as the day progresses...oil is lower but the XOI has clawed its way back above breakeven...

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No Panic Here

by 6/28/2005 11:46 AM
Stocks quoted in this article:

Continuing on my "panic" post from earlier...I want to check on the CBOE Market Volatility Index (VXO) for signs of "panic"...


Created with SuperCharts by Omega Research

As this monthly chart shows, the VXO is near its lowest levels since the mid-1990s. If you view this as a "fear gauge" it is hard to ague that we are anywhere near panic levels.

Note - more information on the volatility indices can be found here in our education section.

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Chart Chatter - SPX Intraday

by 6/28/2005 11:05 AM
Stocks quoted in this article:

We now have an hour and a half under our trading belts so I want to check in on the SPX...


Chart Courtesy of Thomson/ILX

The buying I noted earlier ran its course rather quickly and the SPX has pulled back from its session highs. It will now be interesting to see if the bulls are willing to step in and keep the big caps from dropping back...

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Great-Googly

by 6/28/2005 10:14 AM
Stocks quoted in this article:

As I alluded to earlier, Google's (GOOG) push above 300 has been met with a moderate amount of fanfare...For an example of what I mean, check out this article from the New York Times - "At $300 a Share, Google Looks Pricey and Still Irresistible"...

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Buying

by 6/28/2005 10:10 AM
Stocks quoted in this article:

We pushed through the first half hour of trading with a small upside bias...then my alert for NYSE net ticks hit as it appears that some are making a push to recoup some of last week's losses...


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