Schaeffer's Daily Market Blog Features Apple Computer, Creative Technology, E*TRADE Financial, OptionsXpress, and Intel.CINCINNATI -- Among the stocks featured in the June 14 edition of Schaeffer's Market Blog are Apple Computer (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 :AAPL AAPL Apple Computer, Inc. (stock symbol) AAPL American Association of Professional Landmen AAPL American Academy of Psychiatry and the Law AAPL Advance Audiovisual Presentation Limited AAPL Advocates for Arkansas Public Libraries ), Creative Technology (NASDAQ:CREAF CREAF Creative Technology Ltd (stock symbol) CREAF Centre de Recerca Ecològica i Aplicacions Forestals ), E*TRADE Financial (NYSE NYSE See: New York Stock Exchange :ET), OptionsXpress (NASDAQ:OXPS), and Intel (NASDAQ:INTC INTC Intel (NASDAQ symbol) INTC Intercept INTC Interrupt Controller ). 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. 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 Wednesday, June 14, 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 . 3:30 PM Apple Faces Fresh Legal Woes Shares of Apple Computer (NASDAQ:AAPL) are down more than two percent after Creative Technology (NASDAQ:CREAF) said the International Trade Commission has voted to start an investigation of the company's assertion that a patent related to its portable digital music player See digital music player and Portable Media Center. products is infringed upon by AAPL's iPod product. CREAF believes its patent covers the user interface for its own Nomad and Zen products as well as AAPL's iPod, 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. and iPod Mini. Technically speaking, AAPL has fallen through former support at the 58 level, which halted the stock's pullback in late March. On the other hand, CREAF is up more than four percent today, but is facing overhead resistance at its declining 10-day moving average. 3:17 PM 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. Drops in May It appears that investors slowed their trading in May. Yesterday, E*TRADE Financial (NYSE:ET) announced that its total daily average revenue trades (DARTs) fell three percent to 178,250, versus April. Its total client retail assets fell five percent in May as stock markets fell, and its clients also traded less. It said total client retail assets stood at $184.2 billion at the end of May. In trading today, OptionsXpress (NASDAQ:OXPS) reported that daily average revenue trades in May totaled 30,800, up 91 percent from the same month last year, but two percent lower than in April. Net new customer accounts in May totaled 5,200, while ending customer accounts totaled 189,700, up 48 percent from last year and three percent from April. At last check, ET had shed more than seven percent while OXPS had plunged a whopping 14 percent. OXPS is now sitting at its lowest levels since late November and has breached support at its 10-month moving average. 1:16 PM Is Intel a One-Day Wonder? Earlier this morning, Intel (NASDAQ:INTC) was lifted to "outperform" from "in line" at Goldman Sachs, as part of the brokerage firm's upgrade of the semiconductor production equipment sector to "neutral" from "cautious." While INTC has added more than three percent on the ratings change, it seems that the equity's upside is being limited once again by its troublesome 20-day moving average. Since early May, this short-term trendline has forced INTC lower, with the stock even tagging a multi-year low in the process. However, there is one plus to the move despite the overhead resistance. The upgrade has managed to lift INTC above peak call open interest for the front three months at the 17.50 level, a region that could have been quite bothersome for the shares otherwise. While this is fortunate for the security, I wouldn't jump on the INTC bandwagon just yet, as the stock's sentiment outlook is still rather grim. Outside of analyst ratings, which are still skewed skewed curve of a usually unimodal distribution with one tail drawn out more than the other and the median will lie above or below the mean. skewed Epidemiology adjective Referring to an asymmetrical distribution of a population or of data bullishly, but retain a bit of room for upgrades like today's (Zacks reports that 13 of the 30 analysts give INTC a "hold" or worse), there isn't much else going for the shares. INTC's Schaeffer's put/call open interest ratio (SOIR SOIR Schaeffer's Put/Call Open Interest Ratio SOIR Simultaneous Operations on Intersecting Runways ) of 0.32 rests at an annual low, and short interest is practically nonexistent non·ex·is·tence n. 1. The condition of not existing. 2. Something that does not exist. non . I expect INTC to continue its downtrend downtrend A series of price declines in a security or the general market. Many analysts feel that investors should avoid securities in a downtrend until the pattern is broken. Compare uptrend. after today's upgrade-induced rally concludes. 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=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 . |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion