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:

  • Biotech HOLDRS (BBH) = +1.20 percent
  • iShares Lehman 20+ Year Treas Bond (TLT) = +0.60 percent
  • iShares Nasdaq Biotechnology (IBB) = +0.45 percent
  • streetTRACKS Gold Shares (GLD) = +0.14 percent
  • iShares C&S Realty Majors (ICF) = -0.34 percent
  • iShares DJ US Real Estate (IYR) = -0.38 percent
  • Wireless HOLDRS (WMH) = -0.39 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = -0.44 percent

Bottom Performing Sector Exchange Traded Funds:

  • iShares DJ US Technology (IYW) = -1.47 percent
  • Materials Select Sector SPDR (XLB) = -1.50 percent
  • iShares DJ US Energy (IYE) = -1.52 percent
  • Energy Select Sector SPDR (XLE) = -1.56 percent
  • Internet HOLDRS (HHH) = -1.65 percent
  • iShares DJ US Basic Materials (IYM) = -1.71 percent
  • Oil Service HOLDRS (OIH) = -1.80 percent
  • iShares GS Networking (IGN) = -1.98 percent

Given what we have discussed on the market, it probably doesn't come as too much of a surprise to see that most sectors are trading lower. Of particular interest is the IGN which was the best performing sector yesterday, but as we discussed that performance was driven by second-tier names....

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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Selling

by 5/10/2005 2:44 PM
Stocks quoted in this article:

It appears that the buying demand was short lived. My alert for NYSE net ticks below -1000 has hit as the SPX has plunged from it attempted bounce...


Chart Courtesy of Thomson/ILX

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Readers Respond - CSCO?

by 5/10/2005 2:23 PM
Stocks quoted in this article:

Mike says - "Say, speaking of sentiment, any comments on the numbers and/or charts for CSCO who reports tonight? "

My response - Below is the updated weekly chart of Cisco Systems (CSCO), which shows an intermediate-term downtrend, and the sentiment which shows a bias toward the optimistic side. This is a little changed from what we saw last week when we discussed how some were expecting Cisco and Dell to lend a hand to the tech sector.


Created with SuperCharts by Omega Research

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 67%
  • Number of analysts tracked by Zacks: 30
  • Short interest as a percent of float: 0.7%
  • Short interest ratio: 0.872
  • Put/call ratio percent rank: 92.4%

In a nutshell, I think complacency is dominant, but the key is going to be what Cisco's management says about the future. Long-time readers may remember what we discussed back in September when Cisco chief John Chambers expressed surprise that comments he made were met with a negative reaction. As such, I am not sure he is going to be too eager to say anything that might elicit a similar reaction...


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Buying

by 5/10/2005 1:34 PM
Stocks quoted in this article:

It appears the bulls are taking a turn after this morning's selling. My alert for NYSE net ticks has become active as the SPX turns up...


Chart Courtesy of Thomson/ILX


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IBM

by 5/10/2005 1:23 PM
Stocks quoted in this article:

For what it is worth...IBM is still struggling as it creeps back toward its recent low. I just checked in on the sentiment and found that is more or less inline with what we discussed last week. The only difference is that the put/call has actually declined, indicating an uptick in optimism...

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 65%
  • Number of analysts tracked by Zacks: 17
  • Short interest as a percent of float: 0.8%
  • Short interest ratio: 2.339
  • Put/call ratio percent rank: 1.1%

It appears that few seem worried about the recent earnings miss and technical breakdown. If you are new to this space, make sure you check out the link above for full look at this potential trouble spot...


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