Schaeffer's Trading Floor Blog

Net Ticks

by 2/22/2005 12:29 PM
Stocks quoted in this article:

As I was posting the comments below...NYSE net ticks pushed past -1000 (which is much rarer than spikes above +1000) as selling pressure is still firm.


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Stocks quoted in this article:

A new round of selling pressure has hit...


Chart Courtesy of Thomson/ILX

...and the SPX is at new lows for the session. Earlier today I noted support on the SPY near119.5 and the equivalent level on the SPX is - you guessed it - in the neighborhood of 1195, which is where the index is now trading...as we say on the floor - crunch time...

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Still Watching BSX

by 2/22/2005 11:11 AM
Stocks quoted in this article:

Quick note...I am still in the middle of working my YHOO column but just noticed Boston Scientific Corp (BSX) is breaking below its lows from earlier this month. The shares are still above their January low but nothing has really improved from what I noted here so I would still keep a wary eye on the stock...


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Morning Reversal?

by 2/22/2005 10:57 AM
Stocks quoted in this article:

As I said below...

...the SPY is holding above support and here you can see some changes from what we saw at the open. Oil and gold are still higher, but stocks have reversed as the semis and networkers charge higher.

It looks like part of the semi strength is driven by a rumor floating around that National Semi (NSM) will pre-announce with positive results. I can't say how much truth is in the rumor but NSM is up nearly five percent so it appears that some may be trading on this so I thought I would pass it along...


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One to Watch - ACI

by 2/22/2005 10:37 AM
Stocks quoted in this article:

The SPY is holding above the support zone I discussed earlier, so I am looking around to see what is on the move...A check of the new high list shows some steel and coal stocks. I have already discussed United States Steel (X) and Massey Energy (MEE) on numerous so I want to note Arch Coal (ACI) which is hitting a new high today. As you see below, the sentiment profile heading into today was skewed firmly towards skepticism. Given the strong price action, this may be one to keep an eye on...

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 31%
  • Number of analysts tracked by Zacks: 13
  • Short interest as a percent of float: 11.4%
  • Short interest ratio: 7.426
  • Put/call ratio percent rank: 98.4%

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