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

Ameritrade (AMTD) and E*Trade (ET) were active in Friday's session and we discussed rumors that some sort of merger or acquisition was looming...Today we find out that ET sent a letter to AMTD on Friday expressing interest in acquiring them...

In other M&A news. Duke Energy (DUK) is acquiring Cinergy (CIN)...

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This Week

by 5/9/2005 8:38 AM
Stocks quoted in this article:

With the Fed and monthly employment report out of the way, the economic calendar is calmer this week. I suspect that means earnings from Wal-Mart (WMT), Cisco Systems (CSCO) and Dell (DELL) will likely be the focus. On Friday we touched on the sentiment surrounding DELL and CSCO and the notion that these stocks will be a boon for tech stocks.

As far as WMT goes, the comments I made in this Schaeffer's Daily Contrarian article should sum up my thoughts...


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Good Morning

by 5/9/2005 7:46 AM
Stocks quoted in this article:

We start the trading week with stock futures pointing to a flat open. With just under two hours until the open, S&P futures are in-line with fair value. Gold is down 70 cents to 426.20. Oil is up 31 cents to 51.27...

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Final Figures

by 5/6/2005 4:49 PM
Stocks quoted in this article:

Despite signs that both buyers and sellers tried to make a push today...

Index Index Value Point Change Percent Change
S&P 500 (SPX) 1171.4 -1.3 points -0.11 percent
Dow Jones Industrial Average (DJIA) 10345.4 5 points 0.0 percent
Nasdaq Composite (COMP) 1967.4 5.6 points 0.29 percent
Russell 2000 (RUT) 596.5 0.9 points 0.15 percent
CBOE Market Volatility Index (VXO) 13.30 -0.04 points -0.3 percent

...the action was lackluster and we finish decidedly flat. Even the view below fails to find much of interest for today...

Brokers and banking were the biggest movers for the session, but those moves barely made it to one percent.

Earlier this morning I said:

    "Yesterday we looked at the daily chart of the major indices and noted how the DIA, QQQQ and RUT had not yet pushed above resistance. Today gives the bulls another chance to change this so it will be interesting to see if they can gain traction today..."

Clearly, that did not happen so that is where we will pick up the discussion on Monday...

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Into the Close

by 5/6/2005 4:11 PM
Stocks quoted in this article:

It appears the bulls went home early....

Chart Courtesy of Thomson/ILX the SPX sold off into the close to tag a new session low...though this was barely below breakeven...

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