"Trends are a good thing!"
Intraday Investments Trading Summary for Monday, June 11, 2001
In light of the recent sideways action we have been seeing in the markets, it was nice to have a strong downtrend that followed through this morning, which we capitalized on nicely. In keeping with our sector trading model, we identified the weakness in the semis, networkers, brokers, and biotechs early in the session and entered short positions to capitalize on this. When the smoke cleared and the dust settled, we realized a profit of more than 13 points today, with not a single losing trade. Here is a list of our intraday trades (all short): LEH + 1.1 points, MWD + 0.74, AMAT 0.45(two entries), RNWK + 0.51, QQQ + 0.54, AMCC + 0.05, CIEN + 0.15, ABT + 0.13,
From our overnight positions on Friday, we covered the rest of our JNPR and IVGN shorts today for + 5.4 points and + 3.1 points respectively (avg. profits from legging out of positions with trailing stops). We also covered half of our CAT short position for + 1.6 points and our PDLI short for 0.33 point.
The realized profit from the overnight positions we closed today was approximately 10.4 points. In addition, we netted a profit of approximately 3.5 points from our intraday trades today. This totaled over 13 points of profit today, which we and our clients were both rather pleased with!
We took the following positions overnight tonight: BKS short, BKX and KKD calls short (both well in the money), ATVI short, THQI short (in the money by more than 1/2 point), and CAT short (in the money by more than + 1.5 points).
Having our Master Stalk Sheet has really helped both us and our clients improve their focus intraday, which led to steady profits today. Certainly can't complain about our results today!
Trade Well,
Deron, Steve, and Ed
General Partners
intradayinvestments.com |
