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

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

Top Performing Sector Exchange Traded Funds:

  • iShares DJ US Energy (IYE) = +1.46 percent
  • iShares GS Natural Resource (IGE) = +1.44 percent
  • Energy Select Sector SPDR (XLE) = +1.35 percent
  • Materials Select Sector SPDR (XLB) = +1.29 percent
  • Retail HOLDRS (RTH) = +1.29 percent
  • iShares DJ US Basic Materials (IYM) = +1.25 percent
  • Utilities HOLDRS (UTH) = +1.23 percent
  • iShares DJ US Utilities (IDU) = +1.10 percent

Bottom Performing Sector Exchange Traded Funds:

  • Biotech HOLDRS (BBH) = -0.04 percent
  • iShares GS Networking (IGN) = -0.04 percent
  • iShares DJ US Healthcare (IYH) = -0.08 percent
  • Telecom HOLDRS (TTH) = -0.11 percent
  • Health Care Select Sect SPDR (XLV) = -0.19 percent
  • Pharmaceutical HOLDRS (PPH) = -0.24 percent
  • streetTRACKS Fortune 500 Index (FFF) = -0.34 percent
  • iShares Nasdaq Biotechnology (IBB) = -0.46 percent

As you can see, there is a mild upward bias. The gains aren't extraordinarily large but the losses are extremely small. You can also see that energy, materials, and utilities dominate the advancers. These groups were strong performers heading into this year but have pulled back, dramatically in some cases, so I am keeping an eye on them to see if they can stabilize. In particular, I am watching the chart of the XLE that I noted on Friday...

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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Buying Spree

by 5/17/2005 3:10 PM
Stocks quoted in this article:

We enter the final hour of trading with the bulls making a push...


Chart Courtesy of Thomson/ILX

A series of NYSE net ticks hit as comments filtered out from the Treasury department regarding China's peg on the dollar. This gave the SPX a quick boost and pushed the index above yesterday's high....

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Stocks quoted in this article:

Earlier this month I touched on the brokers and last week I revisited Goldman Sachs (GS)...Now I want to note the action in Merrill Lynch (MER)...


Created with SuperCharts by Omega Research

This daily chart highlights the recent action just above the support zone we noted earlier this month. I have also added a short-term resistance zone as well as the 50-day moving average.

The shares have been unable to bounce from support and now the 50-day trendline is beginning to converge on the resistance zone. I just checked the equity scorecard and found a rather uninspiring reading of just three. I would keep a cautious eye on how the shares react near this support zone...


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Index Check

by 5/17/2005 1:33 PM
Stocks quoted in this article:

A check of the indices shows...

...little has changed from what we saw this morning. Of course this would imply buying we discussed below has yet to gain any momentum as the major indices churn below the breakeven mark....


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Stocks quoted in this article:

Sharlee says - "This morning's headlines 'U.S. Stocks lower on inflation concerns.' Stocks are down as is gold, silver, oil, the CRB, copper and long rates, which inflation is that?"

My response - Obviously the PPI is what the headline was referring to, but Sharlee does bring up an interesting point that many of the traditional gauges are pulling back. Ultimately, however, I think the points brought up by Bernie and Todd Salamone recently in - "It's the Nation's Stag Party, and I'll Cry if I Want To" - will be key.

Steve says - "I am sick of the Bulls. I hope they fail here. If I have to see XXX XXXXX one more time babbling bullish bull I am going to get sick. Let's get back to our old friend the bear. After all, if you read Bernie's 80 day columns you must have at least a few puts."

My response - Names have been changed to protect the innocent and the guilty. And if you haven't read it, make sure you check out Bernie's column from yesterday - Talking Technical.

And for those what want to see someone go head-to-head with the bulls, make sure you tune into CNBC at 3:00 PM to see our very own Todd Salamone engage in a little bull-bear debate...


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