Schaeffer's Trading Floor Blog

Readers Respond - SMH

by 5/12/2005 2:42 PM
Stocks quoted in this article:

Regarding my posts on the semiconductors, Sharlee says - "You must extend your investment outlook past 15 minutes Nick!"

My response - Ouch - tough crowd!

The semis have pulled back from their highs as the selling pressure has picked up all around. As you can see in the updated index graph below, oil related stocks continue to slide as selling pressure because to permeate a number of groups...

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More Selling

by 5/12/2005 2:39 PM
Stocks quoted in this article:

My alert for NYSE net ticks below -1000 has hit again as another round of selling sends the major indices to fresh lows on the session....I still don't see much in the way of news headlines...

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Sell-Sell-Sell

by 5/12/2005 1:47 PM
Stocks quoted in this article:

And the "chop" continues. My alert for NYSE net ticks below -1000 was just hit as the SPX pushes to a new low for the session...


Chart Courtesy of Thomson/ILX

I don't see much in the way of headlines so either something is bubbling to the surface of we are just seeing more of the same in terms of choppy action...


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Chart Chatter - SMH

by 5/12/2005 1:08 PM
Stocks quoted in this article:

Continuing on the semis...while I am still looking for news, I thought the daily chart was worth pointing out...


Created with SuperCharts by Omega Research

For some time we have been watching as the SMH bounced between 29 and 35. The group recently bounced off the lower end of the range but has stalled near the mid-point. Today's rally has the group pushing above its 50-day moving average as it tries to overtake Monday's peak. There is minor congestion just above the current price but after that, it appears the SMH could run back to 35 were major resistance sits.

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Semis

by 5/12/2005 12:53 PM
Stocks quoted in this article:

As I said I would, I have been digging into the semiconductors to see what is driving the action. I pulled the members of the Semiconductor HOLDRS (SMH) and their percent return so far today. The results are below. As you can see, most of the companies are showing gains on the day. A quick scan of the news for the top movers doesn't reveal anything too exciting so I will check out a couple of other sources...

  • Teradyne Inc (TER) = +3.7%
  • Advanced Micro Devices Inc (AMD) = +3.0%
  • Lsi Logic Cp (LSI) = +2.4%
  • Atmel Cp (ATML) = +2.0%
  • Broadcom Cp (BRCM) = +1.9%
  • Vitesse Semiconductor Cp (VTSS) = +1.9%
  • Micron Technology Inc (MU) = +1.8%
  • Texas Instruments Inc (TXN) = +1.7%
  • Novellus Systems Inc (NVLS) = +1.5%
  • Altera Cp (ALTR) = +1.5%
  • Analog Devices Inc (ADI) = +1.3%
  • Xilinx Inc (XLNX) = +1.0%
  • Applied Materials Inc (AMAT) = +0.8%
  • Intel Cp (INTC) = +0.7%
  • Kla Tencor Cp (KLAC) = +0.6%
  • Linear Tech Cp (LLTC) = +0.4%
  • Maxim Integrated Products Inc (MXIM) = -0.2%
  • Sandisk Cp (SNDK) = -1.5%
  • National Semiconductor Co (NSM) = -1.5%
  • Amkor Technology Inc (AMKR) = -2.7%

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