Intraday Stalk Sheet for Monday, June 25, 2001
We have a lot of diversity in today’s stalk sheet on both sides of the market within various sectors. We expect volume to be light in the market on Monday due to anticipation of the FOMC meeting on Tuesday. If volume is light, beware of this fact before entering any new positions.
Potential Longs:
RMBS, Rambus, Long > 9.65, Semiconductor Sector, $SOX.X
Selling volume has really dried up and stock has been trying to put in a bottom over the past three days. A break above 9.65 would break the micro downtrend.
EXDS, Exodus Communications, Long > 1.85, Internet, $IIX.X
Although we don’t normally trade stocks less than $5 per share, the volume is high on this one and risk/reward is very positive here. We will look to enter on a break above Friday’s high.
AETH, Aether, Long > 8.30, Wireless-Lan Sector, $XTC.X
Above high of Friday, this stock has little resistance in its way until 9.85.
SBL, Symbol Technologies, Long > 22.10, Wireless-Lan Sector, $XTC.X
Above 22.10 SBL breaks through the .50 Fibo retracement off the lows and breaks the 200 m/a on the 15 min chart.
PROX, Proxim, Long >12.70, Wireless-Lan Sector, $XTC.X
Must break high of Friday to get anywhere.
Potential Shorts:
C, Citibank, Short < 52.80, Banking Sector, $BKX.X
The banking sector formed a reversal candle on Friday. Citibank seems to have completed a 5 wave Elliott move and is primed to fall.
FTU, First Union, Short < 33.70, Banking Sector, $BKX.X
Below 33.70 FTU breaks its trendline after forming a double top with the second leg of the double top created on very light volume.
JPM, JP Morgan, Short < 45.50, Banking Sector, $BKX.X
Below 45.50 this stock loses 200 m/a on the daily and the rising 40 m/a on the 60 min chart.
ONE, Bank One, Short < 36.00, Banking Sector, $BKX.X
Below 36, ONE loses the 200 m/a on the daily and support just below.
AMGN, Amgen, Short < 65.00, Biotech Sector, $BTK.X
Below 65.00 AMGN loses the 200 m/a on the daily after consolidating between 69.01 and 65.55 for seven days prior to Friday. Also, AMGN has head and shoulders forming and is approaching the neckline. Biotech sector also forming a head and shoulders.
DNA, Genentech, Short < 55.40, Biotech Sector, $BTK.X
Below this price, DNA loses support on 5, 15 and 60 min charts.
ELN, Elan Corp ADS, Short < 60.50, Biotech Sector, $BTK.X
Below 60.50 this puppy breaks the neckline of a major head and shoulders pattern. Watch out below!
HGSI, Human Genome Sci., Short < 60.96, Biotech Sector, $BTK.X
Below here, HGSI breaks the low of a 7 day consolidation. Could spell problems for longs.
PDLI, Protein Design Labs, Short < 78.70, Biotech Sector, $BTK.X
This stock loses the 200 m/a the daily and the 60 min below this price.
COST, Costco, Short < 41.40, Retail Sector, $RLX.X
Closed near low of the day on Friday and below 41.40 would constitute a trendline break on a very steeply ascending chart pattern.
Deron, Steve, and Ed
General Partners
intradayinvestments.com |
