Schaeffer's Trading Floor Blog
Stocks quoted in this article:

Frank says - "It looks like the .XNG is retracing to a critical level. Can you touch base on it and perhaps talk about what stocks look interesting in the sector.."

My response - As you can see in the weekly chart below...


Created with SuperCharts by Omega Research

The natural gas index is trying to hold at support zone near its recent lows which happened to mark the November/December peak. You might also notice that the index is now trading below its 20-week moving average so it is critical that this support hold.

To get a better feel for the group, I took the stocks from our Sector Scan filter and ranked them based on their scorecard reading:

At the top of the list is Nicor (GAS) which is stock my colleague John Stewart featured in his column on Monday - "GAS's Tank is Far from Empty". If you are interested in the group, I would recommend checking out his column...


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Stocks quoted in this article:

You might want to keep a watchful eye on Goldman Sachs (GS). I touched on the brokers just ahead of the last Fed meeting and noted how they were sitting on critical support amid sentiment backdrops that were not very encouraging.


Created with SuperCharts by Omega Research

GS has now pushed through that first support zone and the 20-week moving average...

P.S. Until now (when I accidentally spelled their name wrong and my spellchecker flagged it), I had never noticed how a simple typo of just one letter can really change their name....Perhaps the break of support has triggered something subliminally?

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Selling Pressure

by 5/13/2005 1:53 PM
Stocks quoted in this article:

Continuing the whipsaw action we have seen all week...my alert for NYSE net ticks below -1000 has hit as the SPX has headed back toward its low...


Chart Courtesy of Thomson/ILX

And also continuing the trend we have been following...the headlines are quiet on obvious catalysts for the selling...

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Did You Say Free?

by 5/13/2005 1:16 PM
Stocks quoted in this article:

Want another shot at winning one of our new Schaeffer's Gold T-shirts? Well, here you go...

To take your shot at winning, click on the "Email Nick Perry about this post" link below and tell me why you should get the shirt. You can enter more than once as long as you send a separate email. I will take submissions until 10:00 A.M. Monday morning when I will pick a winner and notify that person via email.

Good luck!


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Stocks quoted in this article:

Sharlee says - "You might look at a one year chart of World Corporation (GE). A little price action down into the 34 area should cause some serious gnashing of teeth all over the world."

My response - Sharlee is of course referring go to General Electric (GE), which one of the stocks featured today in Bernie's column - "Generally Speaking". If you haven't read Bernie's article, make sure you check it out.

The only point I can add to Bernie's excellent comments is something I noted back in early April . In that piece I noted the historical analyst ratings from Zacks, which I have reposted below...

As you can see, optimism has been steadily growing since 2003, which was around the time the stock had bottom. This increasing enthusiasm may have added support to the shares and helped their ascent but the recent action may signal this buying demand has continued to fade...

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