Schaeffer's Trading Floor Blog

Index Check

by 3/30/2005 12:08 PM
Stocks quoted in this article:

It appears the bulls are doing their best to make a push off the support we discussed this morning. My alert for NYSE net ticks has become active again as the major indices make new highs on the session. Here is what the "big picture" looks like...

Most groups are trading higher with tech trying to take the lead. This is helping the NDX which, as we saw yesterday, is perched precariously near its recent lows...

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Stocks quoted in this article:

Note the daily charts below...

Created with SuperCharts by Omega Research

The SPX, DIA, and COMP are on the verge of "erasing" all of yesterday's declines while the NDX has already hurdled that mark...This is a big test for the bulls who haven't been showing much lately.


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Oil

by 3/30/2005 10:44 AM
Stocks quoted in this article:

Crude oil inventories rose 5.4 million barrels....which was higher than expected...and oil broke below 53.

NYSE net ticks spiked around the time the numbers were released as the major indices push to new highs on the session.


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Update on Citigroup

by 3/30/2005 10:28 AM
Stocks quoted in this article:

I wanted to quickly touch on Citigroup (C)....I last mentioned C here a week and a half ago as the stock was breaking support. I then mentioned the stock in my weekly column on the homepage and noted that 45 was the next level of support. Here is an updated version of the chart we have been following...


Created with SuperCharts by Omega Research

Citigroup shot right through 45 and has had trouble retaking that level. The stock is extremely oversold so some short-term consolidation may be likely. However a check of Zacks shows that 14 of the 17 analysts (82 percent) rank the stock with a "buy" rating so I would still keep a cautious eye on C as I think downgrades are a real risk.

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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 yesterday'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 by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
Jupitermedia Corporation (JUPM) 5.4 18.3 14.68 1.02
LifePoint Hospitals, Inc. (LPNT) 4.9 18.1 43.92 -0.55
Allied Waste Industries, Inc. (AW) 3.7 13.5 7.21 0.14
Netflix, Inc. (NFLX) 3.3 40.6 10.10 -0.50
Ruby Tuesday, Inc. (RI) 3.3 11.8 25.30 0.28
Cyberonics, Inc. (CYBX) 3.2 18.9 39.94 0.38
Inverness Medical Innovations, Inc. (IMA) 2.5 10.1 21.37 5.52
Bone Care International, Inc. (BCII) 2.3 10.6 25.75 -0.23
Open Text Corporation (OTEX) 2.1 14.3 17.20 0.23
AMR Corporation (AMR) 2.1 29.5 9.93 10.17
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