DAYTRADING/SWINGTRADING STOCKS with INTRADAY INVESTMENTS Message Board

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Strategies & Market Trends : DAYTRADING/SWINGTRADING STOCKS with INTRADAY INVESTMENTS

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To: - who started this subject	5/17/2001 11:10:56 PM
From: drfibo	Read Replies (1) of 565

UPDATE ON TODAY'S TRADING: Thursday-May 17, 2001 As Steve mentioned in the Thursday Morning Trading Room Update posted earlier today, we made nice profits on our overnight longs including NTIQ +.2, BRCD +1, BEAS +1.5, and JNPR +4.9. We sold all of these positions into the morning rally. The first new trade of the sessions came around 9:50am when we shorted ABT for an easy 1/2 pt profit. Around 10:30am, we took HAL short for a $.60 profit. At 2:40pm, we took Citibank short and ended up covering the position a half hour later for a small profit (+ $.18). In the morning session, we unadvisedly shorted NVDA and were stopped out for a $.75 loss. On the long side, we had excellent gains on CIEN and WAT in the morning session. Around 12:45 we took SCMR long as it was consolidating nicely at the highs of the day and was exhibiting relative strength to the overall market since the futures were selling off. However, with bad news (some say rumor?)weighing on JNPR, SCMR was unable to break out and we covered the position for a $.08 loss. Into the close, we liked the way KEI was setting up and therefore decided to take the stock Long overnight. KEI broke above a 20 day band of consolidation and closed near the high of the day on solid volume. KEI, currently trading at $30.53, appears to have little resistance until the $34.00 range. This is our only overnight position going into Friday's session. Overall it was a solid trading day thanks in most part to our overnight positions. The afternoon session felt more like the doldrums and seemed driven by normal profit taking after such a big run in the markets. It will be interesting to see if the Nasdaq can break the magic 2230 level and join the DOW and the S&P this week in cracking major resistance. Trade Well - Ed (aka. DrFibo)

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