”Networker follow-through”
Intraday Investments Trading Summary for Friday, June 22, 2001
As anticipated, the Networking Sector followed through to the upside in the morning, netting us handsome profits on our Networking stocks that we took overnight from Thursday. In fact, out of the sectors we follow on our Master Stalk Sheet, the NWX closed the strongest of any sector today (up 1.84%).
Our strategy for the overnight plays was to set trailing stops on each of the positions so that we could lock in maximum profit without the risk of losing a large percentage of profits. This strategy resulted in a total profit of over 7 points in the morning session. Here’s where we ended up when the dust settled and our trailing stops were hit: IDTI long + 1.64, PMCS long + 2.35, JDSU long + 1.43 (14% gain), GLW long + 1.86 (14% gain), SCMR long + 0.55, AMCC long + 0.70, JNPR long – 0.55.
Intraday trades today consisted of: DO long (stalk play) + 0.50 (broke even on other half), A long (stalk play) – 0.04, QLGC short + 1.4, VTSS long – 0.67, AETH long – 0.28, GILD short – 1.15.
We also entered the following trades today for overnight/swing plays: BBBY short (unrealized gain of + 0.60), AETH long, DO and HAL long (playing the OSX sector reversal), IBM July 110 short call. In addition, we are still short NVDA and the July 85 call too.
Our trader-members had a profitable end to a profitable week.
Deron, Steve, and Ed
General Partners
intradayinvestments.com |
