Schaeffer's Trading Floor Blog

At the Close

by 4/13/2005 4:08 PM
Stocks quoted in this article:

The selling pressure abated in the last 15 minutes of the session...


Chart Courtesy of Thomson/ILX

...as the SPX made a feeble bounce from its lows.


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As We Head Into the Close

by 4/13/2005 3:40 PM
Stocks quoted in this article:

Talk about whipsaw action...remember those index charts that I updated this morning? Well, they have completed reverted to what they looked like yesterday afternoon before the rally. On the bright side, I can now just stop updating the charts and just refer you to a link...

Around lunchtime today I said "I must admit that I find it somewhat curious that the bulls were not able to capitalize on yesterday afternoon's momentum"... I must admit now that I didn't realize how big a hint that action was....

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Must Read

by 4/13/2005 3:26 PM
Stocks quoted in this article:

If you missed it this morning...make sure you check out Bernie's latest column - Watch Out Below.

This is a must read piece...


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Stocks quoted in this article:

Here are today's top and bottom performing Exchange Traded Funds (ETFs)...

Top Performing Sector Exchange Traded Funds:

  • Pharmaceutical HOLDRS (PPH) = +1.55 percent
  • iShares C&S Realty Majors (ICF) = +0.40 percent
  • Health Care Select Sect SPDR (XLV) = +0.29 percent
  • streetTRACKS Fortune 500 Index (FFF) = +0.25 percent
  • Biotech HOLDRS (BBH) = +0.18 percent
  • streetTRACKS Wilshire REIT Fund (RWR) = +0.18 percent
  • iShares DJ US Healthcare (IYH) = +0.12 percent
  • streetTRACKS Gold Shares (GLD) = +0.07 percent

Bottom Performing Sector Exchange Traded Funds:

  • iShares GS Natural Resource (IGE) = -2.15 percent
  • Energy Select Sector SPDR (XLE) = -2.17 percent
  • Oil Service HOLDRS (OIH) = -2.27 percent
  • iShares GS Semiconductor (IGW) = -2.39 percent
  • Semiconductor HOLDRS (SMH) = -2.52 percent
  • iShares DJ Transportation Average (IYT) = -2.63 percent
  • Materials Select Sector SPDR (XLB) = -2.81 percent
  • iShares DJ US Basic Materials (IYM) = -2.97 percent

As you can see, there is a strong downward bias as the pharmaceuticals group is the only showing moderate gains. On the downside we a wide range of groups losing more than two percent on the day. Basic materials is the worst performing group but transports and semis are following closely behind.

Earlier today I showed a chart of the SMH and I just noticed the group is now testing yesterday's low.

Note: If you are not familiar with ETFs, make sure you read the Education and FAQ sections in our ETF center.


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More Selling

by 4/13/2005 2:59 PM
Stocks quoted in this article:

We enter the final hour of trading with a fresh set of low prints for the session...


Chart Courtesy of Thomson/ILX

The major indices aren't quite at their lows from yesterday but they are moving in that direction....

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