Intraday Investments Stalk Sheet for Thursday, September 20, 2001
In the after hours market, the Nasdaq Futures are up 5.00 and the S&P futures are up 2.30 pts as of 9:51 pm edt.
Companies in our sector model reporting earnings on Thursday include: BMET, MWD, AGE, JBL, PALM.
On the economic calendar for Thursday we have: Due out at 8:30 am edt. – Housing Starts for August and Building Permits for August. 12:00 noon: Philadelphia Fed.
The markets seem to be settling down a bit since reopening on Monday. There are many more stocks setting up to go long than short but, we can’t overlook the potential time bomb tomorrow morning with the release of August housing number and building permit numbers at 8:30 am.
LONGS:
SFA, Scientific Atlanta, Long > 18.20 or on pullback near 17.20, Networkers-Cable Modem Hardware, $NWX.X
This stock had a meteoric run on huge volume at the end of the day on Wednesday but probably needs to pull back before rallying further. Ideally, we would like to grab this one on a low volume pullback or gap down near 17.20.
ORCL, Oracle, Long > 11.63 or on light volume pullback near 11.00, Comp Software-Ent. Database Apps, $GSO.X
This one formed a double bottom on Wednesday and rallied to close near the highs of the day on great volume. Above 11.63 we break the top of the head of a head and shoulders pattern. Due to the big end of day rally, this stock may need to pull back before rallying further.
ABGX, Abgenix, Inc., Long > 22.24, Biotech Sector-Cancer Treatment.$BTK.X
This stock sold off sharply on big volume and then rallied back on big volume to form a bullish long legged doji. Above 22.15 this stock breaks the 200 ma on the 5 and the 20 ma on the 60 min chart. Next resistance at 22.50 then 24.00.
SHORTS
SBC, SBC Communications, Short <44.90, Telco Svc. Providers-ILEC’s, $XTC.X
SBC has seen a great rally over the past 4 days and has now formed a head and shoulders pattern. Below 44.90 we break the neckline on our way to 44.00.
FNM, Fannie Mae, Short < 79.50, Bank Sector- Consumer Financial Services, $BKX.X
This stock formed a double top over the past 2 days, lost support at 79.50 and has now rallied back into resistance near 80.00. Below 79.50 we break the 200 ma on the 5 min chart on our way to 78.50.
MO, Phillip Morris, Short < 47.50, Consumer Non-Cyclical-Retail, $RLX.X
MO has formed a distinct head and shoulders on the 60 min chart and below 47.50 we break the 2 day low. Next support at 47.00 and then 46.50.
Trade Well Today!
Ed, Steve & Deron
General Partners
intradayinvestments.com
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