“She’s still pumping oil!”
Intraday Investments Trading Summary for Friday, July 20, 2001
Based on the title of today’s trading summary, I am certain you can surmise that the long Oil Service stocks we took overnight on Thursday worked out well for us today. In fact, the OSX was the strongest sector out of every sector we trade, closing up a whopping + 5.70%! As a result, we yielded a profit of 10.79 points in that sector today. Here is a summary of the OSX swing trades that we sold into strength today: SLB + 3.32, HAL + 2.44, OIH + 2.75, TDW + 1.74. In addition, we day traded PTEN long for + 0.54 on ¾ of position (took the rest of position overnight). Besides the OSX stocks, we also traded the following intraday: BBY short + 1.11 (covered half the position and took rest of it overnight), ERTS short + 0.86, QLGC short + 0.45 (avg. profit from two round trips), JCP short (0.12), DCLK short (0.10), PCS long (0.30), FNSR short (0.50). Overall, we netted a total of about 12 points today in our Online Trading Center. It was a great way to end a solid week.
We took the following new positions overnight: short BBY (half position), short STJ, long PTEN (small lot left from intraday trade), short ERTS (re-entry after day trading it), We are also still in the following swing trades: short KKD, short TARO Aug. 90 call.
Have a nice weekend.
Deron, Steve, and Ed
General Partners
intradayinvestments.com
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