Schaeffer's Trading Floor Blog

More on GM

by 6/16/2005 10:59 AM
Stocks quoted in this article:

Earlier this week I talked about General Motors (GM) and sentiment extremes...which tend to be rare...and offered that they sometimes require a wide berth in terms of price action, magnitude and time to play out.

Bernie's article from this morning - "Schaeffer's Media Outtakes: Have You Bought a Ford Share Lately?" - delves into this extreme and offers his insight. If you haven't read this article, make sure you check it out...

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Follow-Through Buying

by 6/16/2005 10:46 AM
Stocks quoted in this article:

As soon as I hit "submit" on my post below, my alert for NYSE net ticks became active...It seems that I wasn't the only one watching this chart. The key now is to see if the bulls can generate some excitement to break the recent lethargy and generate some momentum...

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Chart Chatter - SPX Daily

by 6/16/2005 10:40 AM
Stocks quoted in this article:

Keeping in mind the current environment of whipsaw moves we discussed yesterday...check out the daily chart of the SPX as it tried to break above the recent congestion zone.

Created with SuperCharts by Omega Research

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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
Percent of Float
Sold Short
DHB INDUSTRIES INC (DHB) 14.3 12.0 8.71 -2.99
United States Steel (X) 6.5 11.8 40.71 1.28
Sears Holding (SHLD) 6.3 16.0 147.45 2.08
ID Biomedical Corporation (IDBE) 6.2 10.3 16.57 4.24
Desarrolladora Homex (HXM) 6.0 12.5 25.44 0.83
AK Steel Holding Corporation (AKS) 5.7 14.4 7.23 0.97
Steel Dynamics, Inc. (STLD) 5.3 13.2 29.18 1.34
WCI COMMUNITIES INC (WCI) 5.0 10.3 31.60 0.79
Great Atlantic & Pacific Tea Company, Inc. (The) (GAP) 4.8 30.6 27.21 0.74
Shuffle Master, Inc. (SHFL) 4.7 27.2 28.05 0.18

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At the Open

by 6/16/2005 9:56 AM
Stocks quoted in this article:

The opening bell has rung and here's what I see...

Once again we see mostly flat action, though semis, internet and biotech are trying to rally. And, once again, we see that gold stocks are on the move. If you missed it last night, you might want to check out this chart of the HIU...


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