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

In response to my post yesterday about sharing information, Tim says - "Nick, this was a pretty general request - you are apt to get flooded with e-mail. Are you asking for Success profiles? My most consistent success this year has been selling puts and the WealthBuilder Alert Service. Sharing insights from experienced traders like Bernie and other who do it for a living (as opposed to many of us with "other" full-time jobs) would be invaluable. He has forgotten more than I know in my short trading experience. Especially since I do not have the time nor the resources to compile and review the amount of data needed to make informed decisions. THANKS!!!"

My response - As I said last night, I left this somewhat vague as I want to see how it develops. That may mean we get off to a somewhat slow start but that is okay. Sometimes it takes time to get something right.

As far as Bernie having invaluable experience - I completely agree. This is why I try to point out his commentaries and will share some of the topics we are discussing on the floor.

However, I still think that there is value in the perspectives of those who aren't trading full-time. It is very easy to get stuck in rut no matter what your level and one of the best ways to avoid this is to explore what others are doing. Even if you don't agree with it or want to emulate it, the process of thinking it through can lead you to new ideas.

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Buy?

by 3/31/2005 10:53 AM
Stocks quoted in this article:

I was watching a bull/bear debate on CNBC and when I turned back to my screen I saw that NYSE net ticks had spiked above 1000...The indices registered a small uptick on the buying spurt but this has yet to gain traction as the indices are still flat to slightly lower.


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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 yesterday'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 by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
Kos Pharmaceuticals, Inc. (KOSP) 28.8 13.3 42.31 -2.79
Travelzoo Inc (TZOO) 25.1 44.8 52.85 -3.95
Mobile Mini, Inc. (MINI) 12.4 12.1 40.45 0.77
AMR Corporation (AMR) 11.1 29.5 11.03 -1.36
America West Holdings Corporation (AWA) 9.3 33.1 5.30 -3.02
Inverness Medical Innovations, Inc. (IMA) 9.3 10.1 23.35 0.21
Continental Airlines, Inc. (CAL) 8.4 23.1 11.89 -1.68
AirTran Holdings, Inc. (AAI) 7.8 16.4 9.37 -3.52
Global Crossing Ltd. (GLBC) 7.4 117.2 15.79 0.76
Openwave Systems Inc (OPWV) 7.1 13.9 12.32 -2.03

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At the Open

by 3/31/2005 9:46 AM
Stocks quoted in this article:

Stocks are open and here is what I see...

Nothing too surprising in this if you have followed this morning's events. The broad market indices opened flat...biotech is under pressure on the BIIB/ELN news...commodities are popping...


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Readers Respond - Subpoenas

by 3/31/2005 9:41 AM
Stocks quoted in this article:

In response to my post below on subpoenas...Mike says - "Hi, Nick! Don't know if it matters, but JNJ's subpoena came from the US Attorney's office in Newark, NJ, whereas SYK's came from the DOJ. (Also, SYK said that many other cos. in its field were receiving the same thing.) Curious to find out if it's all connected or just coincidence."

My response - To be honest, I am not entirely sure how this is all related as I am seeing slightly different versions of the stories floating around. What I do know is that all but JNJ show relatively low equity scorecard readings: Biomet (BMET) = 3, Stryker (SYK) = 4, Zimmer Holdings (ZMH) = 3.5, Johnson & Johnson (JNJ) = 7

Here is how the stocks are faring on percentage basis today:

  • BMET -8.4%
  • SYK -8.8%
  • JNJ -0.9%
  • ZMH -9.5%


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