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 GS Networking (IGN) = +2.44 percent
  • iShares C&S Realty Majors (ICF) = +1.52 percent
  • Oil Service HOLDRS (OIH) = +1.35 percent
  • iShares DJ US Real Estate (IYR) = +1.17 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = +1.17 percent
  • iShares Nasdaq Biotechnology (IBB) = +1.07 percent
  • iShares DJ US Energy (IYE) = +0.98 percent
  • Energy Select Sector SPDR (XLE) = +0.95 percent

Bottom Performing Sector Exchange Traded Funds:

  • iShares GS Software Index (IGV) = -0.03 percent
  • iShares DJ US Basic Materials (IYM) = -0.06 percent
  • Telecom HOLDRS (TTH) = -0.08 percent
  • Software HOLDRS (SWH) = -0.15 percent
  • Pharmaceutical HOLDRS (PPH) = -0.16 percent
  • iShares GS Semiconductor (IGW) = -0.24 percent
  • Materials Select Sector SPDR (XLB) = -0.42 percent
  • iShares GS Technology Indx (IGM) = -0.46 percent

Even though the broad market indices are showing muted gains, we see an upward bias at the sector level. Oil and energy groups are so far holding their gains while networking is the strongest group. You can also see that a number of technology related groups are not participating on the upside.

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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Stocks quoted in this article:

In response to my post on Applied Materials, Dave says - "AMAT has a trend line from Apr 00 through Feb 05 which if broken would offer some hope. There is also a long term bullish trend line which is near 8 1/2 right now. The stock is having trouble keeping up with its falling 200ma. It would be nice for the bulls if the analysts would give up on this one. "

My response - I wanted to highlight this email because it subtly touches on an interesting aspect of trading - technicals can be a function of your timeframe. I focused on the short-to-intermediate-timeframe while Dave is discussing some intermediate-to-longer-term levels. And while different timeframes may paint different pictures, you can still use sentiment to offer insight to underlying demand and supply.

In regard to Dave's comments about analysts giving up, a monthly snapshot of ratings from Zacks shows this has not been taking place...

Since the beginning of the year, optimism has ticked up. However, as we saw in the chart from my first post, this has not been enough to buoy the shares, which hints to the selling pressure that overhangs the shares.


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Readers Respond - NOK

by 5/9/2005 2:08 PM
Stocks quoted in this article:

Bob says - "Nick, can you give me your thoughts on NOK. NOK hasn't been going anywhere for a while but seems to have recently broken above the resistance level around $17."

My response - Nokia is a stock that fell off my radar screen as it meandered sideways for the longest time. However, the recent action has been interesting...

Created with SuperCharts by Omega Research

This weekly chart highlights the action of the last year. As you can see, the shares bounced from their lows in August and staged a two month rally. But outside that burst, the action has been uninspiring....until now.

The shares recently overtook the peak from March and are now trying to overtake the peak from November. And surprisingly enough (for a large cap tech stock), the sentiment picture isn't overwhelming skewed toward optimism. Short interest is low but analysts are split down the middle and Friday's put/call ratio actually showed skepticism. This all combined to give NOK a moderately healthy equity scorecard reading of 7.5 on Friday.

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Can The Bulls Do It?

by 5/9/2005 1:50 PM
Stocks quoted in this article:

For what it is alert for NYSE net ticks has become active again and the SPX is now in a position to overtake last week's highs. The DJIA is also close to its highs for last week...


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Index Check

by 5/9/2005 12:51 PM
Stocks quoted in this article:

The bulls have a kept a bid under the broad market indices, but...

...the buyers have not been able gain much traction as the upside action remains muted. Working down the list, I see...semis are flat...networkers are rallying and are close to pushing into the zone that rejected the NWX in late-April...internets aren't participating...the XBD remains strong on the back of AMTD and ET...oil related stocks are trying to rally after failing to hold gains on Friday...

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