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by 12/19/2000 9:45 AM
Stocks quoted in this article:
Harrah's Entertainment (HET - 25-5/16) owns and operates casino-resorts and riverboats. The stock rebounded in yesterday's trading, adding over four percent and reversing a decline that had seen the shares give back over 13 percent during December. From a technical perspective, HET has found support in the form of its converging 10-month and 20-month moving averages.

In yesterday's option activity, the February 25 call saw heavy volume. A total of 3,000 contracts crossed the tape on the option, consisting of 1,000-contract and 2,000-contract block trades. <
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by 12/18/2000 2:58 PM
Stocks quoted in this article:
We are seeing a sign today that perhaps investors and speculators are becoming more cautious regarding this market. The CBOE Volatility Index (VIX – 31.40) is actually up .64 percent today while the S&P 100 Index (OEX – 694.41) is also ahead. This is probably due to the uncertainty surrounding tomorrow's Fed meeting. <
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by 12/18/2000 12:16 PM
Stocks quoted in this article:
Fannie Mae (FNM – 88-7/16), Freddie Mac (FRE – 69-1/4), and USA Education (SLM – 66-13/16) (formerly Sallie Mae) have been interesting names of late that have not been mentioned much in the financial press. These stocks have enjoyed solid runs higher since the Nasdaq Composite (COMP – 2624.2) began its latest deterioration in early September.

The aforementioned equities have rallied 67 percent, 55 percent, and 73 percent, respectively, since September 1. Additionally, the stocks have all achieved new 52-week highs today. The hearsay on the Street is that due to huge budget surpluses, the U.S. government will be forced to begin buying the debt securities of these companies when the supply of US Treasurys dries up.
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by 12/18/2000 11:22 AM
Stocks quoted in this article:
One troubling sign for the market today is the second round of punishment Cisco Systems (CSCO – 46-1/2) is receiving. CSCO has recently been trading in a range between 48 and 56. But today, the stock is down another 4.41 percent, after losing 5.01 percent Friday. This is another example of the bears attacking the market leaders one by one.
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by 12/18/2000 11:15 AM
Stocks quoted in this article:
The Internet sector is suffering a significant pullback today on the EToys (ETYS – 5/16) revenue shortfall. The online retailer is off over 70 percent today after warning of lower sales and wider losses for the third quarter. Additionally, ETYS officials said they no longer expect to achieve profitability by March 2003.

Amazon.com (AMZN – 19-3/6) is taking the brunt of the beating, down over 16 percent to a new annual low as investors continue to question the e-commerce model, particularly names that have not yet shown a profit. Yahoo! (YHOO – 31) is down over six percent while Inktomi (INKT - 36) is off 7.5 percent. eBay (EBAY – 38-13/16)is still managing to keep its head above water, up over two percent in late-morning activity. <
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