Schaeffer's Street Chatter Highlights the Following Stocks: American International Group, Movie Gallery, Nasdaq-100 Trust, Microsoft, and Intel.CINCINNATI -- Today's "Street Chatter" from Schaeffer's Investment Research focuses on: American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. (NYSE NYSE See: New York Stock Exchange :AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group ), Movie Gallery (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 :MOVI MOVI Move Immediate MOVI MObile VIsualisierung ), Nasdaq-100 Trust (NASDAQ:QQQQ), Microsoft (NASDAQ: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 ), and Intel (NASDAQ:INTC INTC Intel (NASDAQ symbol) INTC Intercept INTC Interrupt Controller ). "Street Chatter" is a report that analyzes newsworthy stocks that are generating a lot of attention on Internet message boards. "Street Chatter" is published on www.SchaeffersResearch.com - the home of Bernie Schaeffer and Schaeffer's Investment Research. 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=PRSC PRSC Partido Reformista Social Cristiano (Spanish: Social Christian Reformist Party) PRSC Post-Removal Site Control PRSC Program Resources Steering Council 12M&PAGE=1 Street Chatter: Nasdaq-100 Trust: Potential put support at the 41 level could prove to be key for the Nasdaq-100 Trust (NASDAQ:QQQQ). The exchange-traded fund Exchange-traded funds (or ETFs) are Open Ended investment companies that can be traded at any time throughout the course of the day. Typically, ETFs try to replicate a stock market index such as the S&P 500 (e.g. (ETF ETF See Exchange Traded Fund. ETF See exchange-traded fund (ETF). ) has pulled back to this region in today's sell-off. The May 41 put is home to more than 440,000 contracts with another 80,000 contracts changing hands today. Meanwhile, the June 41 put has open interest of almost 200,000 contracts. As we have seen in the past, heavy put open interest often serves as staunch support in the event of a pullback. Traders should keep a close watch on this region during the next week. The 41 level could act like a magnet for QQQQ until May options expire at the close of next week. Click the following link to see an Intraday chart for QQQQ: http://www.schaeffersresearch.com/wire?ID=15987 Movie Gallery: It appears that more than strong earnings are driving the shares of Movie Gallery (NASDAQ:MOVI) to a gain of nearly 60 percent this afternoon. In April, Nasdaq reported that roughly 16.2 million MOVI shares were sold short, amounting to more than 62 percent of the security's float. This accumulation of bearish bets is nearly seven times the stock's average daily trading volume Trading volume The number of shares transacted every day. As there is a seller for every buyer, one can think of the trading volume as half of the number of shares transacted. That is, if A sells 100 shares to B, the volume is 100 shares. . As the bears rush out to buy back their pessimistic bets, they are driving the price higher, forcing more short sellers to close their positions in an effort to stem losses. As a result, short sellers are creating a short-squeeze situation. While the stock has pulled back from its session high, it is hovering around support at the five level. American International Group: This has been the year of the mega-cap meltdown. While the major market indices have tagged new multi-year highs, a number of the mega-caps have unraveled at a staggering rate. Since the start of 2006, Intel (NASDAQ:INTC), Microsoft (NASDAQ:MSFT), Dell (DELL), and eBay (EBAY) have all tagged new annual lows. Could American International Group (NYSE:AIG) be next? The release of disappointing earnings has coincided with the stock's rejection at its 20-week moving average. Furthermore, the equity has broken back below key support in the 65 region, which had buoyed the shares on a number of occasions since mid-December. A continued breakdown of the shares appears to be in the cards for the security. Click the following link to see a Daily Chart of AIG since October 2005: http://www.schaeffersresearch.com/wire?ID=15987 The best way to take advantage of the timely Schaeffer commentaries is to sign up to receive 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=PRSC12M&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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