Intraday Investments Trading Summary for Wednesday, June 6, 2001
We had a highly profitable day today, which started right at the open, thanks to being prepared with our daily Stalk Sheet before the open. Per today's Stalk Sheet, we anticipated a reversal in the biotech sector today, so we immediately were selling that sector short right after we saw weakness on the open. That is where a majority of our profits came from today.
We traded the following biotechs stocks short (all from our Stalk Sheet alerts): IDPH + 1.50 avg., GILD + 1.25 avg., IMCL + 0.19, BBH June 140 puts (long) + 0.85, and CEPH (0.62). We also covered our CELG short from yesterday with a solid profit of + 2.50 points. Our overall net profit from the biotech sector today was + 5.6 points. We also attempted to go long on JNPR and BRCD before the early morning Nasdaq breakout failed and we scratched on both of those.
In the afternoon session, we got stopped out of our ATVI swing play with a loss of 1.60 points due to positive news that was announced at an investors' meeting, which caused a big spike in volume and price. We also went long and scratched on RFMD, took a small loss of 40 cents on JNPR and a loss of 75 cents on very small share size of NVDA (see our post #201 for information on this strategy of adjusting share size based on volatility).
We opened the following positions today as swing plays, which we took overnight tonight: IVGN short, THQI short, FRX short, and HWP short. We also added to our KKD June 70 calls (short) into the DONUT rally today. Last week, we realized a profit of 5 points on half of the KKD short calls, but still have the other half of the position short from $7. We collected $3.20 premium today, which brought our average price down to $5.10 on the KKD short calls. We are also still short WMS (which showed its first reversal day today) and the BKX calls from a week ago.
All in all, a pretty good day today with a net profit of over 3 points. We continue to focus on keeping the losing days small and the winning days consistently positive. Also, welcome to all the new trial members in our Online Trading Center!
Deron, Steve, and Ed
General Partners
intradayinvestments.com |
