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

Continuing the discussion on utilities...I pulled the weekly charts for the top four stocks listed in my last post.

Created with SuperCharts by Omega Research

Here you can see the intermediate-term trend along with the 20-week moving average. I had intended to focus on one or two stocks but as I went through the charts I was struck as how many showed action that I would consider interesting. In other words, the widespread strength which suggests that many of the stocks in the group are seeing accumulation.

As I dug into the sentiment, I was struck by how little enthusiasm is being expressed by the Street. For example, the stocks in that list garner a combined 272 ratings from the analysts tracked by Zacks. Of those ratings, only 68 (25 percent) fall into the buy camp.

With strong performance from a number of stocks and the Street still sitting on the sidelines, this group may be worth a look...

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Slipping

by 5/2/2005 2:08 PM
Stocks quoted in this article:

The action remains rather lethargic as the SPX pushes below the breakeven mark...


Chart Courtesy of Thomson/ILX

Oil has turned higher and retaken the 50 dollar a barrel level and some suggests this is pressuring stocks...


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Index Check

by 5/2/2005 1:18 PM
Stocks quoted in this article:

As the chart in the post below alluded to...

...the major indices are showing muted gains as the day more or less meanders...The brokers, which I discussed below, remain the big movers of the day while gold stocks flirt with making a new low for the 2005...

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Stocks quoted in this article:

We push through the lunch hour with the major indices trying to hold onto their morning gains...


Chart Courtesy of Thomson/ILX

Steady selling in the morning reversed much of the opening fervor and the SPX is now trying to bounce back. Give me a minute and I will check in on my index graph...


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Floor Chatter

by 5/2/2005 11:55 AM
Stocks quoted in this article:

I was just discussing Adobe Systems (ADBE) on the trading floor...The chatter making it way around is that Microsoft's next operating system may lead to competition to Adobe. Whether that is the news driving the stock or not is hard to say, but as you can see in this intraday chart, something is putting pressure on the shares...


Chart Courtesy of Thomson/ILX

It is not often that you see such steady selling pressure. And given the sentiment profile below, it doesn't appear that many are braced for a decline...

  • Percent of analysts tracked by Zacks who rate the stock with a "buy": 67%
  • Number of analysts tracked by Zacks: 21
  • Short interest as a percent of float: 2.1%
  • Short interest ratio: 1.631
  • Put/call ratio percent rank: 38.8%


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