CINCINNATI -- Among the stocks featured in the May 9 edition of Schaeffer's Market Blog are FMC Technologies (NYSE:FTI), Investors Financial Services (NASDAQ:IFIN), Medis Technologies (NASDAQ:MDTL), Google (NASDAQ:GOOG), and Nordson (NASDAQ:NDSN). 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 Tuesday, May 9, 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
9:52 AM NYSE & NASDAQ New Highs/New Lows With Schaeffer's Equity Scorecard
In our Daily Market Blog today we list more than 30 stocks that are reaching new annual highs or lows and feature Schaeffer's Equity Scorecard readings that are near to bullish or bearish extremes. Here are three stocks that score 9.0 out of 10, a reading that suggests that the upside still beckons: FMC Technologies (NYSE:FTI), Investors Financial Services (NASDAQ:IFIN), and Medis Technologies (NASDAQ:MDTL).
1:25 PM Google Bounces at 390
Internet giant Google (NASDAQ:GOOG) is bouncing off a trio of support at the 390 level. The equity took some time to consolidate along this level, which is also roughly home to the security's 80-day and 160-day moving averages. Rebounding off these trendlines, the stock has reclaimed the 400 level. With peak call open interest in the May series at 430, the equity still has some room to run before it encounters potential options-related resistance.
3:09 PM More New Highs for Gold and Silver
As you might expect with the Fed's decision on interest rates due tomorrow, we're seeing more of the same, slow trading, low volume and not much action. But that doesn't mean that all is lost - as gold and silver continue to soar to new highs. Today gold gained $21.90 an ounce to close at $701.80 - its highest level since 1980. But the big winner was silver, as it soared 70 cents to $14.47 an ounce. As you'd expect, metal stocks are having great days, as the PHLX Gold and Silver Index (XAU) has added 4.55 percent and the AMEX Gold Bugs Index (HUI) has tacked on similar numbers. Both are making new all-time highs as well. It'll be interesting to see what happens after the Fed's decision on interest rates is revealed tomorrow afternoon.
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