“All eyes on Cisco”
Intraday Investments Trading Summary for Tuesday, August 07, 2001
Although our intraday trading today was not too exciting, we closed a majority of our swing trades for a solid profit in the morning gap-down by using ¼ point trailing stops. As such, we netted over 8 points on the swing/overnight trades we closed today (although some of the positions were only half size). We got chopped up a bit with our intraday trading and lost on quite a few of those trades today, but kept the losses tight on each trade and only lost a total of about 2.5 points from those trades. The swing trades combined with our intraday trading netted us a rather profitable day, despite the choppy market conditions.
Here is a summary of our round-trip intraday trades: MERQ long + 0.08, OMCL short (0.19), QQQ short (0.14) (net loss from two round trips), EBAY short (0.26), BRCD short (0.43), BRCD long (0.48), SNPS short (0.51), NVDA short (0.51) (covered half position and took rest overnight), MXIM short (0.33) (net loss from two round trips), and VRTS short (0.20).
We also closed the following swing/overnight trades today: MCHP short + 2.23 (remaining half of position), ADI short + 1.42 (remaining half of position), NSM short + 1.25 (remaining half of position), VRSN short + 1.25 (remaining half of position), LRCX short + 1.12, STK short + 0.53, GX long + 0.46 (8% gain on first half, still holding half of original position), ATHM long + 0.15 (12% gain), LLTC short + 0.08, CHKP short (scratch), and IDTI short (scratch).
We took the following new trades overnight: MXIM short and NVDA short (half position). We still have positions in the following overnight/swing trades: JWN Aug. 20 calls short, KKD short (half position), NVDA Aug. 90 calls short, and GX long (half position). We lightened up on significantly on our positions into the close because we did not want to be heavy in any positions with the CSCO earnings coming out after the close.
Trade Well!
Deron, Steve, and Ed
General Partners
intradayinvestments.com
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