Schaeffer's Trading Floor Blog

Staying Abreast

by 4/28/2005 2:27 PM
Stocks quoted in this article:

I should have held off on the post below as a round of selling just pushed the SPX to a new low on the session. Meanwhile, the RUT is flirting with its low from last Monday. You might remember that level by its other name - the low for 2005...

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Buy?

by 4/28/2005 2:19 PM
Stocks quoted in this article:

My alert for NYSE net ticks hit a few minutes ago and I have been watching to see if this was able to light a fire under the market...


Chart Courtesy of Thomson/ILX

But it appears it was more smoke than fire as the SPX has yet to break free from the lows of the session...


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Tell Me What You Think

by 4/28/2005 1:59 PM
Stocks quoted in this article:

Earlier in the week I noted that I was away from desk for a meeting and hinted that it was for a good cause...While I can't give out any details of what is coming, I can say I am part of a team that is looking to add enhancements to Schaffer's Gold.

As such, I thought I would open up the floodgates and ask you what you would like to see added to "Gold". Are there writers you would like to see more from? Are there specific areas of the market you would like to see covered? Do you want to see live action shots of me typing? (If so, I think you will be sorely disappointed!)

If you have any ideas on what you would like to see, click on the "Email Nick Perry about this post" and let me know!

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Index Check

by 4/28/2005 12:45 PM
Stocks quoted in this article:

We ease through the lunch hour with the broad market indices trying to bounce from their session lows...

As you can see, only bonds and drug stocks are holding gains on the session as a number of groups show declines in excess of one percent. Oil, networking, and housing are leading the way lower with oil services and natural gas following closely behind...

Yesterday we discussed how the decline in oil was given "credit" for the turn around in stocks. If that was true, why are stocks down today as oil flirts with breaking below 50?

P.S. Does anyone actually get a "lunch hour" any more? I am lucky if I have time to eat food while I am typing...

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Updated Index Charts

by 4/28/2005 11:55 AM
Stocks quoted in this article:

Unlike yesterday...at least so far...the spike in NYSE net ticks has failed to gain a following as the indices have drifted from their highs. While the action is quiet, I thought I would take the opportunity to update the daily charts of the major indices that we have been tracking...

Created with SuperCharts by Omega Research

Hopefully this illustrates what I meant earlier when I said "it seems me to that buying power is being used up but with little net gain." The indices are still stuck below resistance and despite the much ballyhooed reversals, the indices haven't been able to move away from their recent lows.


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