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

Those with a subscription to the Wall Street Journal/Barron's might want to check out this article - 3M's Value May be Masked...As the title suggests, it casts MMM in an optimistic light as it is argued that post-it notes are being supplanted by flat-panel screens and a topical skin-disease treatment...Of course given the chart below, it looks like the stock needs all the help it can get...


Created with SuperCharts by Omega Research

MMM was a steady "trender" into the summer of 2004 but has since meandered sideways. The stock is currently perched on long-term support near 75. A break would make this sideways pattern look more like a topping pattern....


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Chart Chatter - SPX Intraday

by 6/17/2005 11:10 AM
Stocks quoted in this article:

After an hour and a half of action, we find the SPX...


Chart Courtesy of Thomson/ILX

...holding gains but trading more or less in line with where it opened. The bulls made a push at the open but have so far failed to capitalize on that by building momentum...

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Stocks quoted in this article:

As usual, this table lists stocks that have at least 10 percent of their float sold short and then shows the top ten based on the previous day's gain. The last field shows how the stock is performing in today's session. This can be a useful tool for finding situations where stocks with heavy short interest have begun to move. All returns are shown in percentages.

Note - more information on short interest can be found by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
Eyetech Pharmaceuticals, Inc. (EYET) 14.3 11.8 12.68 -4.57
Northfield Laboratories Inc. (NFLD) 8.7 11.7 12.66 3.02
NPS Pharmaceuticals, Inc. (NPSP) 8.1 13.3 11.30 3.37
Enzo Biochem, Inc. (ENZ) 7.9 11.5 15.64 -1.41
NDC Health (NDC) 7.8 12.3 18.51 0.27
OSI Pharmaceuticals Inc. (OSIP) 7.7 11.9 40.94 0.51
Winnebago Industries, Inc. (WGO) 7.6 27.2 36.07 -2.99
CV Therapeutics, Inc. (CVTX) 7.5 20.2 22.51 3.60
Krispy Kreme Doughnuts, Inc. (KKD) 7.0 50.4 7.98 -2.13
Multimedia Games, Inc. (MGAM) 6.9 34.3 11.76 2.13

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At the Open

by 6/17/2005 9:47 AM
Stocks quoted in this article:

The opening bell has rung and here is what is on the move...

Overall we continue the positive bias we saw last night as the TLT is the only name on my list to trade lower. Housing stocks continue to surge as KB Home (KBH) energizes the group with strong earnings and a 10 percent gap higher on the open. Oil and gold related stocks also continue their advances...

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Now What?

by 6/17/2005 9:23 AM
Stocks quoted in this article:

And speaking of gold, this just in from my colleague Richard Sparks ...according to this article Mitsubishi Materials has purportedly made the world's largest gold bar. And yes, I am as confused as you are as to "why:...


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