Schaeffer's Trading Floor Blog
Stocks quoted in this article:
After a gain of 0.83 percent today, the Dow Jones Industrial Average looks to be headed for a showdown with some resistance points. The 10,350 level and the 20-day moving average are one good trading day within reach. What happens after that is anybody's guess? The Nasdaq Composite was up 0.96 percent today and the S&P 500 was up 0.87. Both of these indices look to be headed for resistance at their 20-day moving averages as well.<

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Stocks quoted in this article:
After announcing Thursday that its Trexima migraine medicine achieved statistical significance for all regulatory endpoints in the second of two Phase III pivotal trials, POZEN (POZN: scorecard, quote, chart) has continued to skyrocket higher. Thursday the stock rose 68 percent, Friday it dipped four cents but today it's the top performer on the Nasdaq Composite with a 20-percent gain. The stock had suffered mightily in 2005, losing 51 percent and falling to a two-year low. Not surprisingly, pessimism is quite high on the stock. Of four analysts that cover POZN, three have "hold" ratings on it. Its short-interest ratio is a hefty 5.5 days.<

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One More Hour

by 4/25/2005 3:03 PM
Stocks quoted in this article:
With an hour to go before the final bell it looks like we shouldn't see much excitement until tomorrow. Volume has really dried up and most market players have decided to instead wait until numerous earnings results hit later tonight and tomorrow morning before making any serious bets. If anything, I wouldn't be very surprised if we sold-off some going into the close.

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Stocks quoted in this article:
Home Depot (HD: scorecard, quote, chart) is seeing some unusual action today on behalf of options traders, who have pushed the HD May 37.50 call (HD EU) to the top of the most-active charts. With more than an hour left in the trading day, volume on this just-out-of-the-money position is closing in on 11,000 contracts. Prior to today's action, open interest at this strike stood at 11,638, so today's volume could be massive liquidations, new positions, or a combination of the two. Checking on time and quotes, there is not a clearly dominant trader behind today's action. A slew of small and mid-sized blocks have been crossing the tape throughout the day. Technically speaking, HD has been in decline mode since mid-November. The shares recently took out potential support near the 38 level and are trading below their 20-month trendline for the first time since September 2003. <

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The BEAV Soars on Earnings

by 4/25/2005 1:45 PM
Stocks quoted in this article:
I've written on the website before about one of my favorite stocks BE Aerospace. (BEAV: scorecard, quote, chart) This morning the company reported first-quarter earnings of seven cents per share, beating Wall Street's estimate by two cents. This is the first quarterly profit for the company in three years. The BEAV also boosted its outlook due to a strong order backlog. I'm long the stock and it remains one of my top bullish picks, not just because of the fundamental turnaround story but because the pessimism is high and the stock's story is still largely unknown. Short interest has risen in four consecutive months to just over 2.2 million shares. BEAV is up nearly 14 percent to 12.60, its highest point since mid-March and a chip shot from a 2-1/2 year high.<

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