Stocks quoted in this article:
The SPX is off its session lows hit at 10:00 AM but the VXO just ticked above 16...
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Stocks quoted in this article:
As I noted yesterday, my main theme for the last week has been the chart from my October 1 post - my point to ponder. The SPX has followed the pattern of this year's peaks (in an admittedly sloppy fashion) but now faces an interesting challenge. The updated daily price chart below (along with the 9-day RSI) zooms in the recent action.
Created with SuperCharts by Omega ResearchHere you can see a trendline (black line) that highlights a potential pattern of ascending lows. I would think that the bulls would try to make at least a small stand here. A violation would be a sign of underlying weakness...
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Stocks quoted in this article:
Most stocks have had a chance to open so I thought a check of the indices was in order. As you can see there is weakness across the board with the COMP and RUT leading the charge lower. The VXO has popped its head above 15.50. It has not closed above this level since breaking below on August 24...
| Index |
Index Value |
Point Change |
Percent Change |
| S&P 500 (SPX) |
1117.3 |
-7.1 points |
-0.63 percent |
| Dow Jones Industrial Average (DJIA) |
10027.5 |
-55 points |
-0.5 percent |
| Nasdaq Composite (COMP) |
1910.2 |
-18.6 points |
-0.96 percent |
| Russell 2000 (RUT) |
572.5 |
-5.0 points |
-0.87 percent |
| CBOE Market Volatility Index (VXO) |
15.7 |
0.70 points |
4.7 percent |
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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.
| Company |
Yesterday's
Gain |
Percent of Float
Sold Short |
Yesterday's
Close |
Today's
Return |
| Travelzoo Inc (TZOO) |
11.6 |
58.4 |
56.88 |
8.35 |
| Level 3 Communications, Inc. (LVLT) |
9.6 |
17.8 |
2.98 |
2.35 |
| KFX Inc. (KFX) |
6.9 |
37.0 |
8.55 |
-0.58 |
| Linktone Ltd. (LTON) |
6.2 |
24.8 |
9.66 |
-1.97 |
| FuelCell Energy, Inc. (FCEL) |
5.5 |
18.0 |
12.14 |
-0.91 |
| Greater Bay Bancorp (GBBK) |
5.0 |
10.7 |
31.81 |
-3.24 |
| Netease.com, Inc. (NTES) |
4.9 |
23.3 |
41.00 |
0.49 |
| Winn-Dixie Stores, Inc. (WIN) |
4.6 |
40.8 |
3.88 |
-0.77 |
| United Therapeutics Corporation (UTHR) |
4.0 |
20.7 |
33.91 |
-1.68 |
| Netflix, Inc. (NFLX) |
4.0 |
51.0 |
17.43 |
0.57 |
Stocks quoted in this article:
As expected, stock indices opened lower. I will give them a few minutes to settle into the day and then post some numbers. For what it is worth, below is how the stocks mentioned earlier are trading (in percentage terms).
- MER -1.0%
- STT -7.2%
- JNJ +0.3%
- TZOO +8.3%
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