Schaeffer's Daily Market Blog Features: Google, Exxon Mobil, ConocoPhillips, General Motors, and Microsoft.CINCINNATI -- Among the stocks featured in the October 26 edition of Schaeffer's Market Blog are Google (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :GOOG GOOG Google, Inc. (stock symbol) ), Exxon Mobil (NYSE NYSE See: New York Stock Exchange :XOM XOM Exxon Mobil Corporation (stock symbol) XOM X/Open Object Management XOM OSI-Abstract-Data Manipulation API XOM Xml Object Model XOM X/Open Osi Abstract Data Manipulation ), ConocoPhillips (NYSE:COP), General Motors (NYSE:GM), and Microsoft (NYSE:MSFT MSFT Microsoft (stock symbol) MSFT Movimento Sociale Fiamma Tricolore (Italy) MSFT Multi-Stage Fitness Test MSFT Master of Science in Family Therapy MSFT Macalester Students for Fair Trade ). Schaeffer's Market Blog is just one of the many free market commentaries written every day at www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. The Market Blog is written throughout every trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. by Schaeffer's financial analysts and traders. They are quick insights to the day's most notable market activity from an options perspective. To have this report delivered to you free via email every day click on the following link and you'll also get an opportunity to win an iPod Nano A flash-based digital music player from Apple, introduced in 2005. Like larger iPod models, the nano has a color screen. Although the nano name suggests ultra-small "nanotechnology," the iPod shuffle is actually smaller. See iPod. . http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB PROB Probable/Probably PROB Problem PROB People's Republic of Bangladesh 13M&PAGE=1 . Don't forget that many of our observations are available as audio presentations that you can hear on your computer or download from Apple's iTunes Music Store to play on a portable device such as an iPod. To see the full menu of podcasts, please visit http://www.schaeffersresearch.com/commentary/podcasts/. 10:36 AM Google Hits Fresh Intraday High Good morning. During the first 15 minutes of trading today, Google (NASDAQ:GOOG) hit another all-time high of $491.96. The stock has since pulled back, and stood down $1.60 at last check, at $485.00. Nevertheless, the trend is still to the upside, and it will be interesting to see what happens as the stock approaches that 500 level. 12:29 PM Is Exxon Mobil's Trend Your Friend? In a prime example of "the trend is your friend," Exxon Mobil (NYSE:XOM) hit yet another all-time high today, riding the back of a sold earnings report and strong guidance going forward. There is practically nothing in the sentiment outlook for XOM that makes me want to dive into the shares at the moment, but not every stock is a contrarian play. Short interest is low and analysts love the security, but its Schaeffer's put/call open interest ratio (SOIR SOIR Schaeffer's Put/Call Open Interest Ratio SOIR Simultaneous Operations on Intersecting Runways ) of 0.66 ranks in the 61st percentile percentile, n the number in a frequency distribution below which a certain percentage of fees will fall. E.g., the ninetieth percentile is the number that divides the distribution of fees into the lower 90% and the upper 10%, or that fee level of its annual range. I guess every little bit of pessimism helps. XOM has backed off of its highs of the session, but still remains higher by about one percent amid some heavy selling on the broader market. 1:53 PM Conoco May be Running Out of Steam Options players on ConocoPhillips (NYSE:COP) have been busy buying up calls over the past two trading sessions. Yesterday, call volume amounted to 10 times put volume and today it's more than six times put volume. It is interesting that the stock is being rejected today at its 80-day moving average. Perhaps the shares have seen as much optimism as they can take. 2:45 PM An Exciting Hour The past hour has been pretty wild for a few stocks. First off, General Motors (NYSE:GM) was hit with an intraday downgrade and the shares have dropped about three percent from their peak as a result. Also Wendy's International Wendy's International, Inc. NYSE: WEN is the parent company of Wendy's Old Fashioned Hamburgers. It also owns 70 percent of Cafe Express and 25 percent (fully diluted) of Pasta Pomodoro. The Tim Hortons chain was spun off by Wendy's into a separate company in September 2006. (WEN wen, benign, slow-growing, painless cyst of the skin resulting from obstruction of the sebaceous gland ducts. It is frequently found on the scalp, ears, face, back, or scrotum. Usually no treatment is required. Large wens may be surgically removed. ) reaffirmed guidance and the shares are up a little bit to a new high. Finally, Bankrate (RATE) was downgraded intra-day but the shares are still up over six percent. Quite an exciting hour to say the least. Oh yeah, the market spiked higher and we're making new highs across the board once again. 3:57 PM Call Volume Builds on Microsoft Options players are certainly showing their hands ahead of tonight's earnings announcement from Microsoft (NASDAQ:MSFT). The software giant is expected to post first-quarter earnings of 31 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , on a 10-percent increase in sales to more than $10 billion. Two MSFT calls are the most-active options trading on the AMEX AMEX See: American Stock Exchange ; the January 30 and the April 30 positions have both seen more than 20,000 contracts swap hands. Prior to today's action, these calls, out of the money by about $1.50, were home to 430,714 and 52,428 contracts, respectively. It is therefore hard to judge whether today's volume consists of new additions, liquidations, or a combination. If the former, it is safe to say that these speculators are hoping for a positive reaction to the earnings report. For more information on these stocks or any stock in your portfolio, feel free to visit our Schaeffer's Equity Scorecard feature. Click here to read all of today's Market Blog: http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB13C&PAGE=1. Take advantage of the timely Schaeffer commentaries by signing up for their free e-newsletters -- Opening View, Market Recap and Monday Morning Outlook. Click here to have the Schaeffer's commentaries delivered to you free via email every day and get entered to win an IPod Nano. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB13M&PAGE=1. About Schaeffer's Investment Research (www.SchaeffersResearch.com) Schaeffer's Investment Research, founded by Bernie Schaeffer in 1981, is a financial information and trading resources company. It publishes Bernie Schaeffer's Option Advisor, the nation's leading options subscription newsletter. The firm's contrarian approach focuses on stocks with technical and fundamental trends that run counter to investor expectations. The firm's website, http://www.SchaeffersResearch.com , is recognized as one of the leading information sources for stock and options traders and was cited as the top options website by both Forbes and Barron's. Click here for more details about Schaeffer's trading methodology: http://www.SchaeffersResearch.com/method . |
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