Schaeffer's Daily Market Blog Features Oil Service HOLDRS Trust, Select Sector SPDR Energy Fund, NYSE Group, Nasdaq Stock Market, and Microsoft.

CINCINNATI -- Among the stocks featured in the April 24th edition of Schaeffer's Market Blog are Oil Service HOLDRS Trust (AMEX:OIH), Select Sector SPDR Energy Fund (AMEX:XLE), NYSE Group (NYSE:NYX), Nasdaq Stock Market (NASDAQ:NDAQ), and Microsoft (NASDAQ:MSFT). 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 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=PROB12M&PAGE=1 .

Schaeffer's Market Blog for Monday, April 24, 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 .

12:55 PM Crude Oil Pulls Back on Profit Taking

Crude oil is pulling back today as investors rake in some profits. At last check, the June crude oil futures contract was down $1.22 to $73.95 per barrel after reaching a futures record of $75.40 earlier in the session. Meanwhile, a report from Dow Jones stated that the Energy Department is considering ways to raise the size of the government's strategic petroleum reserve by about 45 percent to one billion barrels.

Oil-related stocks are also pulling back from their recent highs today. As a result, the Oil HOLDRS Trust (AMEX:OIH) has dropped 1.4 percent after tagging an all-time high on Friday. The Select Sector SPDR Energy Fund (AMEX:XLE) has tumbled 1.4 percent today as it continues to battle resistance at the 60 level.

1:01 PM Exchange Blues

Two exchanges are struggling today. The NYSE Group (NYSE:NYX) has slipped almost four percent. Sandler O'Neill analyst Rich Repetto reiterated a "sell" rating on the stock, saying CEO John Thain expects a "fair amount of selling" among insiders at the exchange since a significant amount of their wealth is tied up in NYSE stock. Thain also acknowledged the threat of a potential Nasdaq-LSE merger, Repetto said.

Speaking of the Nasdaq, the Nasdaq Stock Market (NASDAQ:NDAQ) is down 3.8 percent after the company filed plans to offer 18.5 million shares with underwriters Banc of America Securities and Credit Suisse. The company plans to use the roughly $727 million in proceeds to pay down debt, among other matters.

Technically speaking, NYX has dropped to test support at the 70 level and has additional support rising into the region in the form of its ascending 20-week trendline. On the other hand, NDAQ continues to consolidate sideways into support at its rising 10-month moving average.

1:59 PM Calls Quite Popular for Microsoft

Shares of Microsoft (NASDAQ:MSFT) have been stagnate recently, yet options players seem to be as confident as ever about the near-term prospects of the equity. Call volume has run at more than five times put volume each of the past two days, and the Schaeffer put/call open interest ratio on MSFT of 0.26 is below all readings taken during the past year. The reading of 0.26 translates into nearly four open call positions for every one put position. Such optimism can be a sign of near-term weakness for a stock.

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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 .