Schaeffer's Trading Floor Blog

Into the Close

by 5/12/2005 4:15 PM
Stocks quoted in this article:

The bulls were never able to swing the momentum back in their favor...


Chart Courtesy of Thomson/ILX

Though the selling pressure seemed to fade away near yesterday's low...

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Chart Chatter - SPX

by 5/12/2005 2:53 PM
Stocks quoted in this article:

As you can see below, the selling pressure now jumps out on the chart. Keep an eye on the 1157 level. This was the site of yesterday's "panic" low and a breach would likely catch some of the bulls off-guard...


Chart Courtesy of Thomson/ILX

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Readers Respond - SMH

by 5/12/2005 2:42 PM
Stocks quoted in this article:

Regarding my posts on the semiconductors, Sharlee says - "You must extend your investment outlook past 15 minutes Nick!"

My response - Ouch - tough crowd!

The semis have pulled back from their highs as the selling pressure has picked up all around. As you can see in the updated index graph below, oil related stocks continue to slide as selling pressure because to permeate a number of groups...

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More Selling

by 5/12/2005 2:39 PM
Stocks quoted in this article:

My alert for NYSE net ticks below -1000 has hit again as another round of selling sends the major indices to fresh lows on the session....I still don't see much in the way of news headlines...

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Sell-Sell-Sell

by 5/12/2005 1:47 PM
Stocks quoted in this article:

And the "chop" continues. My alert for NYSE net ticks below -1000 was just hit as the SPX pushes to a new low for the session...


Chart Courtesy of Thomson/ILX

I don't see much in the way of headlines so either something is bubbling to the surface of we are just seeing more of the same in terms of choppy action...


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