INTRADAY’S STALK SHEET FOR MONDAY JUNE 18, 2001
As we were doing our scanning for Monday’s session, we noted the absence of many short setups setting up in the daily timeframe with an attractive risk/reward. When this happens it sometimes is the “data talking to us” indicating that a reversal back up is likely to come soon. It could also simply mean that we’re simply already down so that it’s tougher to enter the market off of the daily charts; in that case we’ll have to find some quality short entries tomorrow within the intraday timeframes.
Therefore, our stalk sheet tonight (which sets up primarily off the daily charts) is dedicated to the long side. In the event the market does continue to stabilize coming off of Friday’s recovery, we found some good long setups. Feel free to post questions before the open tomorrow or during the early trading session regarding our rationale for these setups.
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Seminar Notice – free Equity Curve Management software and training for Intraday Trader-Members!
Be sure to mark your accounts to market (“MTM”) Monday & Tuesday (cash value at the close, with any open positions marked to the closing price), record your maximum intraday drawdown, peak unrealized intraday profits, % closed profits from overnights you came in with, and # trades (the most important stat is the MTM closing equity #). We suggest you also pull together the MTM closing equity data for as far back as you can go… then you’ll be ready to setup your own private, live equity curve charting/monitoring system after attending our seminar Tuesday after the close:
Tuesday, June 19, 4:30 - 6 p.m. EDT - How to implement "The Equity Curve Technique" (presented by Steve Bell)
Attendees will receive a 16-spreadsheet Excel 2000 “control panel” for managing their stock & option trading business including macros and charts to use daily in tracking their trading performance daily, weekly, monthly and yearly. As described on our Silicon Investor thread, post #41 (http://www.siliconinvestor.com/readmsg.aspx?msgid=15814903), this topic will be explained both at a conceptual level, and at a detailed implementation level using the supplied spreadsheet.
Wednesday we’ll begin prompting Intraday customers to "Mark to Market" every day, and make their Excel/equity curve system entries every day after the close. According to Steve, "After trading and learning for 9 years, this is the best set of secrets that I could share with a fellow trader. And the secret is, if you pay close attention to this, everything else will come together over time. There is simply nothing more important. In fact, if you do find something more important in a trading business than what is happening to your equity curve – please let us know right away as we want to fly in and talk to you! There is no substitute the performance benefits which flow from keeping detailed trading records – and with this spreadsheet system, we’ll be making it much easier for you to do that".
The Excel 2000 worksheet you’ll receive has been pre-programmed for tracking your equity across multiple trading accounts every trading day for the next ten years. The system monitors not only equity but an array of related “performance feedback” statistics using both charts and a “digital dashboard” matrix. Just enter your required daily input data into the pre-configured database and it generates/plots an array of performance statistics such as weekly/monthly/YTD return on capital; #turns/day; avg daily/monthly profit, drawdown; % of profits (in different periods) from intraday trades vs. overnights; % profits from options vs. stocks; etc. The input data can be collected manually in a few minutes; to ease the task and gain further insights we recommend the use of TRADELOG, written by David Eich at Armencomp (www.armencomp.com/tradelog).
Our educational post on Silicon Investor (URL) explains the theory behind Intraday’s equity curve system; with the spreadsheet in hand Tuesday afternoon’s training will show you how to make this the cornerstone of your trading management, to manage your trading performance like a Pro!
There is no extra charge for the growing base of Intraday members; if you’re a trial member and you join by Tuesday in order to attend this key seminar/software, you’ll still receive the benefit of your remaining trial days. We expect continued enhancements in the Equity curve software (including hot-syncing of data entered on PPCs and Palm devices) which we plan to release to our members – another milestone in the growing list of “Intraday Innovations”.
Here’s to a great trading week!
Steve, Deron, & Ed
General Partners
Intraday Investments
Visit us on our Silicon Investor Thread!:
Subject 51208
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Monday’s STALK SHEET setups:
NVLS, Novellus, Long > 52.10, Semi Equipment, $SOX.X
We will go long above 200 m/a on 60 min. chart which is 52.10.
KLAC, KLA Tencor, Long > 55.10, Semi Equipment, $SOX.X
We will go long above 200 m/a on 60 min chart which is 55.10.
TXN, Texas Instruments, Long > 33.00, Semiconductor Sector, $SOX.X
We will go long above the declining 20 period m/a on the 60 minute chart at 33.00.
XLNX, XILINX, Long > 42.40, Semiconductor Sector, $SOX.X
We will go long above the declining 20 period m/a on the 60 minute chart at 42.40.
$HCX.X, Healthcare Sector, This sector has been consolidating for 4 days. Above 835 We will look for long setups in this sector but below 822 we will look to be short the weakest stocks in the sector.
GLW, Corning, Long > 15.00, Networking Sector, $NWX.X
This stock gapped down on huge volume (capitulating volume) and then formed a doji star on Friday. We will look to go long above 15.00 which was Friday’s high.
MER, Merrill Lynch, Long > 63.00, Broker/Dealer Sector, $XBD.X
We will go long above the 200 m/a on the 15 min chart which is 63.00. This stock closed strong on Friday as did the sector. MER closed at the high of the day which is very bullish coming into Monday.
GS, Goldman Sachs, Long > 90.10, Broker/Dealer Sector, $XBD.X
We will go long above 90.10 which is the declining 40 period m/a on the 60 minute chart. This stock and its sector closed very strong on Friday and we would expect to see follow through to the upside on Monday.
PDLI, Protein Design Labs, Long > 79.20, Biotech Sector, $BTK.X
We will go long if this stock can break above its 200 m/a on the daily chart. After taking a beating for several days, the Biotechs look primed to rally especially given the strong close in the sector on Friday.
JPM, JP Morgan, Long > 46.00, Banking Sector, $BKX.X
We will go long if JPM can break the 200 m/a on the daily chart and the important resistance established at 46.00. The Banking Sector had a strong finish on Friday and we therefore anticipate some follow through during Monday’s session.
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