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

With an hour of trading under its belt, here is what the intraday chart of the SPX looks like...


Chart Courtesy of Thomson/ILX

As you can see, a bout of selling has pushed SPX (and the other broad market indices) to their sessions. The day is young but so far the bulls aren't doing well on the "test" I noted in the post below...

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Stocks quoted in this article:

As I promised last night, here are updated versions of the charts I showed yesterday...

Created with SuperCharts by Omega Research

It looks like this is a big test for the bulls...


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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.

Note - more information on short interest can be found by by clicking here.

Company Yesterday's
Gain
Percent of Float
Sold Short
Yesterday's
Close
Today's
Return
China Yuchai International Limited (CYD) 54.7 10.2 11.29 -2.04
NitroMed, Inc. (NTMD) 11.3 26.6 17.86 3.93
Cyberonics, Inc. (CYBX) 8.9 18.9 45.79 -0.35
Napster (NAPS) 8.3 18.9 7.14 2.52
A.C. Moore Arts & Crafts, Inc. (ACMR) 7.7 11.7 28.10 0.78
Human Genome Sciences, Inc. (HGSI) 7.5 11.1 10.77 1.77
Continental Airlines, Inc. (CAL) 6.3 23.1 13.24 -2.27
Blockbuster Inc. (BBI) 6.2 18.1 9.70 -0.52
Northfield Laboratories Inc. (NFLD) 6.2 15.8 12.82 -0.86
McMoRan Exploration Company (MMR) 6.0 41.3 21.58 1.16
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Stocks quoted in this article:

Regarding the Dow Jones Transportation Average, Stuart says - "Nick, its tacking a real whack. Back to recent lows. Its underperforming all the majors. This is a strange divergence. "

My response - Good catch. Trucking stocks are taking a hit today after USF Corp. (USFC) - which is being acquired by Yellow Roadway Corp. (YELL) - said their earnings will be significantly lower. The transport index contains a number of trucking stocks and they are mostly lower. Furthermore, top weighted stocks in the index, such as FedEx Corp, United Parcel Service, and Union Pacific aren't doing anything to offset this weakness...


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At the Open

by 4/8/2005 9:42 AM
Stocks quoted in this article:

The opening bell has rung on the last trading day of the week and here is what is on the move...

As expected, the broad market indices are flat....oil stands out on the downside and networkers stand out on the upside, but if you note the scale, neither is showing a dramatic move...all-in-all, it's a fairly quiet open..


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