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

Bob says - "Nick, Can you bring us up to date on your thoughts on semis. They seem to be quietly making a run."

My response - For those who are new to this space...I want to start by noting that I have wrong on the short-term direction of the semis since expressing some concern in late-January. (Actually I have been concerned about the group for longer than but I the recent action is what matters now.) What I am looking at now is the action below...

Created with SuperCharts by Omega Research

The daily chart shows that the SMH is at its most overbought level since November. The weekly chart highlights the resistance that currently stands overhead. Both of these should lead to pressure on the group so I am watching how they behave here.

I wanted to make sure that noted that I haven't been on the right side of the semis so that you can make your own decisions. Momentum is strong yet the put/call ratio on the SMH is moving higher so there are some signs of skepticism growing.


permanent link

One to Watch?

by 2/16/2005 10:27 AM
Stocks quoted in this article:

My screen shows that the housing group has turned positive on the day...This group has shown some big gains over the last year as many have argued they are in a bubble that is due to pop. The arguments are rooted in logic, and convincing enough that I have pondered them myself.

However, as I dig into the group I can't help but notice that performance is strong and skepticism is high. One of the stocks that caught my eye is Toll Brothers (TOL) as it garners an equity scorecard rating of 9, out of a possible 10 points.

Created with SuperCharts by Omega Research

This daily chart shows the stock has been bouncing along its 20-day moving average (green line) and is attempting to bounce off short-term support. I would definitely call this a higher risk situation but still an interesting one if you are disciplined...

permanent link

X Alert

by 2/16/2005 10:13 AM
Stocks quoted in this article:

Monday I noted that I was still watching United States Steel (X)...I had an alert set for a move above 54 and that just triggered. The annual high is still about 70 away but I wanted my alert to give me a heads up the stock was getting close.

permanent link
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
Percent of Float
Sold Short
Metris Companies Inc. (MXT) 6.7 20.3 12.38 0.24
Winn-Dixie Stores, Inc. (WIN) 6.1 32.3 1.75 -1.14
Kulicke and Soffa Industries, Inc. (KLIC) 5.6 12.0 7.20 -1.39
Martha Stewart Living Omnimedia, Inc. (MSO) 5.0 55.7 35.37 0.76
eResearch Technology Inc. (ERES) 4.8 15.0 16.20 0.19
Fresh Del Monte Produce, Inc. (FDP) 4.6 18.2 32.45 0.00
palmOne, Inc. (PLMO) 4.6 33.4 24.14 -1.70
SALESFORCE.COM INC (CRM) 4.5 41.1 14.26 -0.35
Maytag Corporation (MYG) 4.4 14.1 15.91 0.19
Jupitermedia Corporation (JUPM) 4.3 19.1 18.43 -3.79

permanent link

At the Open

by 2/16/2005 9:55 AM
Stocks quoted in this article:

Stocks have had a chance to settle into a groove and here are where things stand...

As you can see, the downward bias we saw in futures has carried through to the open as oil is the only "group" trading higher. Semis and networking are giving back some of their recent gains and putting pressure on the NDX...

permanent link

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:

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

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