“Selling the rally equals making profits”
Intraday Investments Trading Summary for Tuesday, June 19, 2001
The S&P and Nasdaq had a strong gap-up on the open today, which worked out well for us because we covered our shorts yesterday and were 100% cash coming into today’s session. We immediately noticed that the gap-up was having difficulty staying in place, so we sold short those stocks and sectors on our Stalk Sheet with relative weakness on high volume. The strategy paid off for us today, as we had 11 round-trip trades with 8 winners and 3 losers, netting just over 5 points of profit from our intraday trades. In addition, we are in the money by almost 2 points on some swing trades we entered today.
Here is a listing of our intraday trades today: VRTS short + 1.20, SEBL short + 1.00, BRCM short + 1.45, EXTR short + 0.90, BRCD long + 0.50 (sum of three entries- one winner and two losers), GILD short + 0.16, IDPH short + 0.18, QLGC short + 0.50, NVDA short – 0.75 (lost on first intraday trade, but re-entered for overnight short).
We did not take anything overnight for the purpose of playing an opening gap, but we did take the following overnight with the intention of being multi-day swing trades: JDSU long, SCMR long, NVDA short (unrealized gain of 1.8 points so far), NVDA July 85 call short (long the 105 calls as a hedge), and GILD short.
We also had a very successful mini-seminar after the close today as Steve presented The Equity Curve Technique to our members. Our members will now be implementing the new technique into their daily trading routines as we “mark to market” at the end of each day.
More trading fun tomorrow!
Deron, Steve, and Ed
General Partners
intradayinvestments.com |
