“What is to come tomorrow?”
Intraday Investments Trading Summary for Tuesday, June 26, 2001
With the markets in a slight downtrend after the gap down this morning, we were able to capitalize on some profits on the short side of the market, as well as our overnight positions. However, since the afternoon rally put us right up into resistance from June 20 – 21, we were reluctant to go long, despite the sudden reversal to the upside. This actually ended up working out well for us, as the markets stalled a bit after the rally.
We closed the following overnight positions today: DO long – 0.65, HAL long + 1.35, EXDS long + 0.43 (24% gain since entry!). Also had the following day trades today: EBAY short + 2.40 (two entries, also taking part of position overnight with 2 point unrealized gain), MMM short – 0.10, MXIM long – 0.39, NVDA short – 2.6 (the devil strikes again on 2 separate entries), AETH long – 0.70 (got stopped out on bad news this morning).
In summary, not a terribly exciting day, but we kept our trader-members out of trouble on a day that could have easily caught the unsuspecting on the wrong side of the markets. After the FOMC meeting tomorrow, we expect to see higher volume return to the markets, which will likely enable us to be more aggressive in our trades.
Deron, Steve, and Ed
General Partners
intradayinvestments.com |
