Intraday Investments Stalk Sheet for Wednesday, June 27, 2001
The biggest thing we can stress to you today is be cautious and be nimble! Remember that many traders will be on the sidelines in the morning session until after the FOMC meeting is adjourned. After that, there is likely to be very volatile trading in the moments that follow. So, our point is to be careful today on both sides of the markets.
SEBL, Seibel Systems, Long >43.30, Software Sector, $GSO.X
Closed near high of the day on good volume. Needs to break above 43.30 on Good Volume to continue the rally
FTU, First Union, Short < 33.75, Bank Sector, $BKX.X
Has been able to advance higher after breaking above resistance on increasing volume. Today stock closed in bottom 1/3 of its candle and volume is decreasing. Looks primed for a pullback.
KEY, Key Bank, Long > 25.50, Bank Sector, $BKX.X
Broke above resistance on the 200 m/a on the daily tuesday on strong volume. Closed near days high. ADX on the rise above 30.
PVN, Providian Bank, Long > 54.25, Bank Sector, $BKX.X
Gapped down into 200 m/a on the daily chart and rallied all day to close near its high of the day on Tuesday on increasing volume. Needs strong volume to get above 54.25. A rate cut of 50 bps by the Fed wouldn't hurt either.
CELG, Celgene, Long >27.85, Biotech Sector, $BTK.X
Closed near high of the day but volume was light. Will need strong volume to break out further. Found support on Tuesday at the rising 40 m/a on the daily which is a 50% Fibo retracement off the highs.
GENE, Genome Therapeutics, Long > 13.80, Biotech Sector, $BTK.X
Rallied nicely on Tuesday but on light volume. Will need a cooperative sector and heavier volume to advance further.
CTXS, Citrix Systems, Long > 32.00, Software Sector, $GSO.X
Closed very close to the high of the day on increasing volume. Has been consolidating just above a zone of resistance that it just broke out from. Volume has been decline though until today. If this one sees good volume, it good be a solid winner.
ERTS, Electronic Arts, Long > 54.36, Software Sector, $GSO.X
Long above high of the day on Tuesday. Saw first reversal candle on Tues. after three days of hard selling. Will need good volume to rally however.
MSFT, Microsoft, Long > 70.61, Software Sector, $GSO.X
Above 70.61, MSFT breaks above the 200 m/a on the 60 min chart, the 20 & 40 ma's on the daily chart and the Fridays high.
ORCL, Oracle, Long >18.55, Software Sector, $GSO.X
This stock broke out from a 3 day consolidation band on very strong volume. Above 18.52 there seems to be fairly clear sailing until 19.65 + - .
RATL, Rational Software, Long > 28.60, Software Sector, $GSO.X
This one may actually need to get above 28.77 to be in play but we want a heads up because it could explode above 28.77. Nice volume on Tuesday and closed near the high.
JDSU, JDS Uniphase, Long > 12.50, TELCO Hardware, $XTC.X
Closed reasonably strong on Tuesday considering it saw light volume. Has been consolidating nicely for 3 days near 12.00. Above 12.50 and with strong volume, this one could be a killer. Closed above resistance on the 5, 15, and 60 min charts on Tuesday.
Deron, Steve, and Ed
General Partners
intradayinvestments.com |
