Schaeffer's Trading Floor Blog

At the Open

by 6/15/2005 9:54 AM
Stocks quoted in this article:

The opening bell has run and here is what I see...

The broad market indices did open with an upside bias but the strength has waned in the first 20 minutes. At the sector level, most groups are showing some positive price action but the gains are muted as only gold stocks are able to pierce the one percent mark...


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Investors Intelligence

by 6/15/2005 9:31 AM
Stocks quoted in this article:

The weekly figures from Investors Intelligence are out...

The percent bullish rose to 52.7 (from 50.6) while the percent bearish ticked down to 20.4 (from 20.9)...

You can find the Investors Intelligence chart and recent data here...

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Into the Open

by 6/15/2005 9:24 AM
Stocks quoted in this article:

Stock futures have held the post-CPI pop so it looks like we are poised for an upside open...Gold is up 40 cents and oil is up 49 cents.

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CPI Gives a Boost to Stocks

by 6/15/2005 8:44 AM
Stocks quoted in this article:

The Consumer Price Index dropped 0.1 percent while the core rose 0.1 percent...Both of these numbers were slightly below expectations and stock futures popped on the news as chatter began that the Fed's worries on inflation may be eased...


Chart Courtesy of Thomson/ILX

The S&P's currently sit nearly three points above fair value so it looks like we might see an upside bias at the open...assuming this strength holds...

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Good Morning

by 6/15/2005 8:07 AM
Stocks quoted in this article:

I know you are going to find this hard to believe...but brace yourselves...

We come into the day with stock futures quiet in pre-open action and pointing toward a flat open as the S&Ps sit near fair value. Of course I am being facetious. The action of the last couple of days has been rather dull so the lackluster action ahead of this morning's CPI, assorted other reports, and this afternoon's Beige Book is no great surprise. Hopefully these events will draw some traders in and give us some volatility...

Outside of stocks, gold is flat and oil is up 44 cents to 55.44 ahead of today's OPEC meeting...

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