Schaeffer's Daily Market Blog Features Pharmion, Goldcorp, AmeriCredit, Tenet Healthcare, and ConAgra Foods.CINCINNATI -- Among the stocks featured in the March 7 edition of Schaeffer's Market Blog are Pharmion (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 :PHRM PHRM Project Human Resources Management ), Goldcorp (NYSE NYSE See: New York Stock Exchange :CC), AmeriCredit (NYSE:ACF (Advanced Communications Function) An earlier official product line name for IBM SNA programs, such as VTAM (ACF/VTAM) and NCP (ACF/NCP). ACF - Advanced Communications Function ), Tenet Healthcare Tenet Healthcare Corporation (THC) is an operating company that owns and operates 57 hospitals in the United States [1]. It is based in Dallas, Texas. Its stock ticker symbol on the New York Stock Exchange is NYSE: THC. (NYSE:THC THC tetrahydrocannabinol. THC n. Tetrahydrocannabinol; a compound that is obtained from cannabis or is made synthetically; it is the primary intoxicant in marijuana and hashish. ), and ConAgra Foods ConAgra Foods, Inc. (NYSE: CAG) is one of North America's largest packaged foods companies. ConAgra's products are available in supermarkets, as well as restaurants and food service establishments. Its headquarters are located in Omaha, Nebraska. (NYSE:CAG CAG 1 Chronic atrophic gastritis 2 Coronary angiography, see there ). Schaeffer's Market Blog is just one of the many free market commentaries written everyday 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. For additional information about this report or to have it delivered to you free via email every day click on the following link. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB PROB Probable/Probably PROB Problem PROB People's Republic of Bangladesh 12M&PAGE=1 . Schaeffer's Market Blog for Tuesday, March 7, 2006: Below are just a few of today's Market Blog entries. Click here to read all of today's Market Blog. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB1C&PAGE=1 . 5:00 PM (Monday) Heavy Put Selling on Pharmion Pharmion (NASDAQ:PHRM) is a pharmaceutical company focusing on producing drugs used to treat blood disorders blood disorders, n.pl hematologic dyscrasias that affect the component cells and plasma elements of the blood. They are generally divided into two broad groups: those in which an increase in bulk occurs (e.g. and cancer. The company's put options were especially active today. More than 13 times the average daily put volume has traded today, with almost all the activity coming at the out-of-the-money April 15 put (JUT PC). Over 10,100 JUT PC contracts changed hands. The entire volume came in several large and small block trades that executed between 11:41 a.m. and 12:23 p.m. eastern time. The trades went off at 0.25 and 0.30. This was closer to the bid price for most of the trades, suggesting they were sales. With open interest of just 161 contracts, these trades appear to be new put sell positions. PHRM ended the day up three percent to 17.41. 10:06 AM NYSE & NASDAQ New Highs/New Lows With Equity Scorecard A daily feature of our Daily Market Blog is a look at stocks achieving new annual highs or lows while racking up an "extreme" Schaeffer's Equity Scorecard rating. Two of the list today are Goldcorp (NYSE:GG) and its rating of 7.0 out of 10, and AmeriCredit (NYSE:ACF) and its rating of 7.0 out of 10. If you would like to see the entire charts, follow the link above. 1:48 Puts Active on Tenet Healthcare Puts on Tenet Healthcare (NYSE:THC) were quite active yesterday. In fact, put volume was more than six times the average daily volume. I looked more closely and found that almost all the volume traded at the March 7 put (THC OJ). Nearly 5,700 THC OJ contracts traded yesterday. 4,000 of those translated to new open interest. The large majority of these trades occurred in the last three hours of trading. They traded at 0.10 and 0.15 and went off at the ask price, suggesting they were purchases. It looks like someone's making a bearish bet on THC. Excluding commissions, a trader purchasing the March 7 put at 0.15 would need the stock to finish below 6.85 for the position to be profitable at expiration. THC is down just over three percent today at 7.17. There is a jury trial going on in San Diego regarding physician recruiting practices. The case involves physician recruiting practices at a THC hospital (Alvarado) that allegedly were in violation of federal law. The first trial on this issue ended in a hung jury. Broker Prudential (PRU PRU Prudential Financial PRU Pupil Referral Unit PRU Photographic Reconnaissance Unit PRU Potomac Rugby Union (Washington, DC) PRU Provincial Reconnaissance Unit PRU Projets de Rénovation Urbaine PRU Pruhonice ) notes that the current jury has been deliberating for 35 days -- an extraordinarily long time for a matter of this consequence -- and earlier this week a juror juror n. any person who actually serves on a jury. Lists of potential jurors are chosen from various sources such as registered voters, automobile registration or telephone directories. sent the Judge a note expressing frustration with fellow jurors' "biases", which has prompted renewed motions for mistrial A courtroom trial that has been terminated prior to its normal conclusion. A mistrial has no legal effect and is considered an invalid or nugatory trial. It differs from a "new trial," which recognizes that a trial was completed but was set aside so that the issues could be . PRU has always believed that the longer this jury deliberates, the greater the chance of no verdict. It also believes that if this trial ends in a hung jury, there will not be a third trial, which would be especially positive for THC, as it would be able to start recruiting doctors more aggressively and volumes at the company may improve. Maybe someone's betting that there will be a guilty verdict by next Friday. 2:30 ConAgra's Puts Active, Too ConAgra Foods (NYSE:CAG) is another stock with heavy put activity yesterday. 5,000 contracts traded at the CAG April 22.50 put (CAG PX). This made up almost three-quarters of CAG's put volume yesterday. All the trades came between 3:16 and 3:45 p.m. They crossed the tape at prices from 1.70 to 1.80. Most of the volume went off at or near the ask price, so these were likely bearish put purchases. Open interest increased by 4,991 contracts. CAG is currently trading down 0.6 percent at 20.68. The above are just a few of today's Daily Market Blog entries. Click here to read all of today's Daily Market Blog. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB1C&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. http://www.schaeffersresearch.com/redirect.aspx?CODE=PROB12M&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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