Schaeffer's Trading Floor Blog

New Highs - Old Names

by 2/24/2005 1:20 PM
Stocks quoted in this article:

I was just scanning the new high list and noted a few familiar names - Arch Coal (ACI), Massey Energy (MEE), and United States Steel (X).

I know I have mentioned these stocks before, but I think it is important to keep mentioning them as the strength continues, but its not something that would jump out from my sector lists...


permanent link

Worth Noting

by 2/24/2005 12:49 PM
Stocks quoted in this article:

For those interested...There is an article in today's Wall Street Journal that is worth noting - "Search-Engine Stocks" - on page D2..

The article notes the strong price action in Google (and another search engine stock that I promised not to mention anymore today) but suggests that they are not overvalued if you look at their price/earnings-to-growth ratio as analysts are predicting strong growth.

I have already argued that a certain stock in this group is seeing a good deal of optimism and I think this is just another indication. For another perspective, the list below shows the stocks mentioned in the article along with their equity scorecard rating...

  • ASKJ = 1
  • GOOG = 5
  • NTES = 2
  • SOHU = 3
  • YHOO = 4

<

permanent link

Looking Around

by 2/24/2005 12:08 PM
Stocks quoted in this article:

As we enter the lunch time lull, here is what I see...

I like this graph because it immediately shows what is on the move...and what isn't. The "what isn't" would be the major indices which are mulling around breakeven. The "what is" would be housing on the upside and internet and gold on the downside.

The INX is getting hit on the GOOG/YHOO comments which have already been discussed here...(and I promised I wouldn't hammer YHOO anymore today)...Housing is interesting though. One of the stocks I have discussed here is Toll Brothers (TOL).

Yesterday I noted the stock was bouncing off its 20-day moving average on good earnings. The shares are hitting a new high today. (Note - more background can be found here.)

<

permanent link
Stocks quoted in this article:
As my colleague Ryan Detrick discussed earlier in the blog, one of today's leading groups is Machinery Construction, which has been bolstered by a sharp gain in Joy Global (JOYG: scorecard, quote, chart) . This morning before the market open, JOYG reported quarterly earnings of 29 cents per share, eight cents ahead of analyst expectations. What's more, the company also raised its revenue guidance for Y05. JOYG now sees revenues coming in at $1.9-2.1 billion, versus the prior consensus of $1.81 billion. The equity has been a strong performer over the past year and has outpaced the S&P 500 Index by more than 52 percent. JOYG looks very impressive from a technical perspective, as it is trading above all short-, intermediate-, and long-term moving averages and has no overhead resistance.

permanent link

For a Short Time

by 2/24/2005 11:58 AM
Stocks quoted in this article:

I am back...at least for a short time. I am going to take a look around and see what is on the move, but first I want to thank everyone who has chipped in today...


permanent link
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.