Schaeffer's Trading Floor Blog

I Am Still Here

by 4/18/2005 3:53 PM
Stocks quoted in this article:

Sorry for the lull...I was on the phone with a reporter from the Wall Street Journal and then had to flip around to catch Bernie's appearance on CNBC. If you missed him, Bernie pointed out some of the dangers lurking in big-cap tech...more of his thoughts on the topic can be found in his recent commentary - Big Techs Blowup...


permanent link

Conflicting Alerts

by 4/18/2005 3:04 PM
Stocks quoted in this article:

My alert for NYSE net ticks hits just as I was digging into Cisco Systems (CSCO) after an alert hit to notify me that CSCO was at a new annual low...

Earlier this month I touched on Cisco as the stock was upgraded. A quick check of Zacks shows that 21 of the 31 analysts (68 percent) rank the stock with a "buy" rating...as it hits a new annual low...

<

permanent link
Stocks quoted in this article:

Mark says - "The options configurations for the May QQQQ looks anything but bullish. Normally there is a pile of puts supporting price. The 36 and 37 strikes could now prove to be major resistance. "

My response - Friday's expiration of April options has left May as the front-month series and changed the landscape a bit. It will be important to keep an eye on this to see how it evolves.

The biggest builds on the call side, as Mark noted, happens to be at 36 and 37, which as the grey zone below highlights, has been an important level on the QQQQ chart.


Created with SuperCharts by Omega Research

<

permanent link

Worth a Read

by 4/18/2005 2:30 PM
Stocks quoted in this article:

One of the points that I picked up from watching Bernie is to monitor the media to get insight into the mood of Wall Street... This was the reason we launched the Schaeffer's Daily Contrarian column and is why I frequently point out articles to check out.

One of the articles that was just passed my way is from the New York Times - "Stocks Struggle to Recover After Declines of Last Week" - which quotes those who don't seemed overly concerned with the recent weakness.

While you don't want to react to a single piece of data, it can be useful to keep small points in mind in order to form a larger picture. As I noted last week, things have a way of "sneaking" up on the Street...


permanent link

Index Check

by 4/18/2005 2:15 PM
Stocks quoted in this article:

Buyers appear to have become active again and here is what the overall picture looks like...

For the most part, we see muted gains on the broad market indices though the DJIA is flat as it is pressured by a five percent loss in 3M. Drugs stocks and oil are still lower, but oil stocks have turned higher. Gold stocks trade near their highs for the day as the group struggles to rebound from recent selling pressure.

<

permanent link
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Partner Center

© 2014 Schaeffer's Investment Research, Inc. 5151 Pfeiffer Road, Suite 250, Cincinnati, Ohio 45242 Phone: (800) 448-2080 FAX: (513) 589-3810 Int'l Callers: (513) 589-3800 Email: service@sir-inc.com

All Rights Reserved. Unauthorized reproduction of any SIR publication is strictly prohibited.

Market Data provided by QuoteMedia.com | Data delayed 15-20 minutes unless otherwise indicated.