Schaeffer's Trading Floor Blog

Optimistic Bidding...

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

For those who follow magazine cover stories as an indicator... You might want to check out this week's Barron's as eBay (EBAY) takes the spotlight with an optimistic article...

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Stocks quoted in this article:

A few weeks ago I noted the action in Merrill Lynch (MER)...I was just going through some charts and noticed that despite the broad market advance in the last month and a half, MER is still struggling to overtake that resistance zone we discussed...

Created with SuperCharts by Omega Research

The 50-day moving average has pushed down on the shares and they did manage to achieve one close above this trendline. However, the victory was short-lived as the shares fell back below this average. The stock is still holing at its recent lows near 54 so perhaps the bulls are preparing for another barrage on resistance. But given the optimistic sentiment below, I would keep a wary eye on what happens at this short-term support.

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 77%
  • Number of analysts tracked by Zacks: 17
  • Short interest as a percent of float: 0.9%
  • Short interest ratio: 1.686
  • Put/call ratio percent rank: 17.1%


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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
Return, Inc. (NTES) 5.5 22.2 55.88 -0.79
America West Holdings Corporation (AWA) 4.9 23.2 6.45 -2.33
Atlas America, Inc. (ATLS) 3.9 62.6 32.99 -1.33
Southern Peru Copper Corporation (PCU) 3.5 11.2 49.25 1.75
Jos. A. Bank Clothiers, Inc. (JOSB) 3.5 40.3 40.85 -2.65
Oxford Industries, Inc. (OXM) 3.4 12.7 41.75 -1.27
Gamestop Corporation (GME) 3.3 41.1 31.08 -0.32
Wynn Resorts, Limited (WYNN) 3.0 14.8 55.02 -3.44
Multimedia Games, Inc. (MGAM) 2.8 34.3 10.87 -1.10
Take-Two Interactive Software, Inc. (TTWO) 2.7 14.8 27.08 -1.14

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At the Open

by 6/6/2005 9:52 AM
Stocks quoted in this article:

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

As expected, the broad market indices are off to a sluggish start...Semis are bucking the broad market laziness as the SMH backs away from the resistance zone we discussed last week...oil and oil related stocks are showing an upside bias as is the yellow metal...


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One to Watch - JOSB

by 6/6/2005 8:42 AM
Stocks quoted in this article:

Another story that caught my eye is the earnings release from Joseph A. Bank Clothiers (JOSB). The company beat earning estimates by a penny and the shares are indicated up two percent in pre-open action...

While the stock probably isn't a household name, I took notice of it back in April after my colleague Ed Stenson discussed its virtues.

It also makes the occasional appearance on my short interest scan as short interest currently stands at 40 percent of the stock's float. The shares hit a new high Friday as they gained more than three percent (while most stock groups traded lower) so they might even appear on today's scan.

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