Schaeffer's Trading Floor Blog

At the Open

by 6/10/2005 9:52 AM
Stocks quoted in this article:

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

I had to change the line above because I originally ended it with "and here is what is on the move"...But when I looked at the graph I realized there wasn't much on the move. Housing and cyclicals are the largest movers at this early hour but those moves are still less than one percent....Semis are off to a weak start but it would be hard to call that a big move...bonds are down as the TLT tests yesterday's low...


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Must Read

by 6/10/2005 9:17 AM
Stocks quoted in this article:

The article I mentioned earlier is now available on the homepage - "A New Way to Look at Volatility "... This is an article I will be referring to for some time to come so make sure you check it out...

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Intel

by 6/10/2005 8:59 AM
Stocks quoted in this article:

Last night we received the much awaited word from Intel on what they see...and while their comments seemed positive the stock wasn't able to gain any traction in after hours action. A check of the quote this morning shows the same as the stock is indicated down about 15 cents from yesterday's close. This comes as the SMH has rallied into that resistance zone we have been following. It will be interesting to watch how INTC and the SMH trade today...

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Stocks quoted in this article:

I was glancing through the Wall Street Journal and a couple of articles caught my eye...

The first - "Fidelity's New Upgrade: 'Analyst'" - talks about how Fidelity Investments is shaking up their research structure and hiring dedicate analysts in an effort to boost lackluster performance. The second - "Narrow Market Ranges Stymie Wall Streeters" - discusses the frustration that professional traders are feeling as low volatility and monotonous market action make their lives difficult.

I wanted to point these out because we have discussed this ugly market action and touched on the frustration that many of you are feeling. I have said that you are not alone and as the articles above show, even the Street is feeling it.

I also thought it was worth noting due to the ironic way the market tend to works. It seems that just about the time a thought becomes pervasive and accepted, the environment changes. It will be interesting to watch how this develops. If we start to see more signs that every accepts the "fact" that the summer will boring, the market may offer a surprise...


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Watch For It

by 6/10/2005 7:52 AM
Stocks quoted in this article:

For those, like me, who enjoy the insight Bernie provides in his "Schaeffer's Media Outtakes" column on the homepage...I just got a sneak preview of his latest post and it is a must read. I will provide a link once it is available on the site...


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