“Tight trading range madness”
Intraday Investments Trading Summary for Monday, August 06, 2001
Although the Dow had a steady downtrend today, the Nasdaq futures were stuck in a brutally tight trading range and bounced between the 1710 – 1716 level for nearly four hours into the close. As such, the afternoon was very uneventful, but we did manage to close some of our swing trades for profit.
Here is a summary of our intraday trades: CHKP short + 0.93 (took half of position overnight), EMLX short (0.50), QLGC short (0.42), NVDA short (0.98) (net loss from two round trips), and AMCC short (0.39).
We also closed the following overnight/swing trades today: ADI short + 1.12 (still holding half of position), MCHP short + 1.80 (still holding one fourth of position), CTXS short + 1.40 (half position), LSI short + 1.25, TXN short + 0.93, NSM short + 0.64 (still holding half of position), VRTS short (0.95) (half position), and BRCD short (1.70).
We entered the following positions as overnight/swing trades: ATHM long, CHKP short (half position), STK short, and NVDA Aug. 90 calls short. We still have positions in the following swing trades: LRCX short, VRSN short, MCHP short, IDTI short, ADI short (half position), LLTC short, GX long, KKD short, and JWN Aug. 20 calls short.
Trade Well!
Deron, Steve, and Ed
General Partners
intradayinvestments.com
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