Schaeffer's Trading Floor Blog

Final Figures

by 6/22/2005 5:30 PM
Stocks quoted in this article:

Continuing the recent trend we have seen...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1213.9 0.3 points 0.02 percent
Dow Jones Industrial Average (DJIA) 10587.9 -12 points -0.1 percent
Nasdaq Composite (COMP) 2092.0 0.9 points 0.04 percent
Russell 2000 (RUT) 643.5 2.4 points 0.38 percent
CBOE Market Volatility Index (VXO) 10.35 0.19 points 1.9 percent

The broad market indices finished the day little changed...

Overall we see that most groups echoed this lethargy...The XBD showed the largest gain but that was partly due to AMTD and ET which popped on AMTD's acquisition announcement...bonds were strong as the TLT rallied the entire afternoon and closed at its high for the day...oil was lower but oil related stocks shook off midday weakness to score gains on the day...gold stocks finished lower but off their worst levels of the session...

All-in-all, it was yet another quiet, meandering session...

And now for an announcement...I will be out of office for the rest of the week so a few of my colleagues will jumping in here to keep you abreast of all the latest developments. I should be back in the office first thing Monday morning...

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At the Close

by 6/22/2005 4:51 PM
Stocks quoted in this article:

Following the pattern we have seen for the last few days...


Chart Courtesy of Thomson/ILX

...the close was less than exciting as the SPX just sort of mulled around breakeven...

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Stocks quoted in this article:

Adding his thoughts to our discussion Jim says - "About stops: 1) ALL HOLDINGS HAVE A SYOP LOSS PRICE ALL THE TIME. 2) Any stop order should be STOP LIMIT (like 8.85, limit 8.75) to avoid the wipe outs Then you can react and decide what to do when $10 opens at $5. 3) All stops placed just below technical support levels - support, resistance or moving avgs. Trailing up on weekly basis. 4) Most stop prices are at close price and tracked by "mental" comparison, spreadsheet or my own software. 5) Orders (limit) used in rare occasions (mostly when taking profits), trading software alerts for others. 6) For flagrant executions, complain to broker and/or exchange/SEC - i have had 3 executions reversed for obvious "gunning". Worth a try. "

My response - Thanks for sharing!

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Stocks quoted in this article:

Here are today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • Oil Service HOLDRS (OIH) = +1.29 percent
  • iShares Lehman 20+ Year Treas Bond (TLT) = +1.16 percent
  • Utilities HOLDRS (UTH) = +1.09 percent
  • Wireless HOLDRS (WMH) = +0.99 percent
  • Utilities Select Sector SPDR (XLU) = +0.90 percent
  • iShares DJ US Utilities (IDU) = +0.84 percent
  • iShares GS Networking (IGN) = +0.82 percent
  • iShares GS Semiconductor (IGW) = +0.81 percent

Bottom Performing Sector Exchange Traded Funds:

  • iShares DJ US Industrial (IYJ) = -0.31 percent
  • Health Care Select Sect SPDR (XLV) = -0.32 percent
  • iShares C&S Realty Majors (ICF) = -0.32 percent
  • iShares GS Software Index (IGV) = -0.33 percent
  • Industrial Select Sector SPDR (XLI) = -0.36 percent
  • iShares Nasdaq Biotechnology (IBB) = -0.47 percent
  • iShares DJ US Healthcare (IYH) = -0.53 percent
  • Biotech HOLDRS (BBH) = -0.93 percent

For the most part we have a quiet picture. Bonds, oil services and utilities are in the lead while biotech is under pressure...

Note: If you are not familiar with ETFs, make sure you read the Education and FAQ sections in our ETF center.


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Stocks quoted in this article:

In response to the post below - Readers Respond - Bubble Trouble Jim says - "Only intelligent comment I've heard in last week or so on "housing bubble" is that if exists, will probably not pop but deflate as prices stop going up and remain on market longer."

My response - While that may indeed be what happens to prices of houses themselves, stocks related to this area would likely be a bit more volatile. For example, check out the monthly chart of the PHLX Housing Index (HGX) below. This group has rallied on the strength of the housing market so I would expect it to pullback briskly if/when the market slows...


Created with SuperCharts by Omega Research


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