“Dow reversal day”
Intraday Investments Trading Summary for Friday, August 10, 2001
After selling off heavily in the morning, the Dow and Nasdaq both rallied back hard in the afternoon with the Dow closing up 117 points and the Nasdaq closing down only 6 points. We were very conservative today and did not make many trades after the morning session because we did not have much conviction in the afternoon rally. We ended up having another profitable day, which was especially nice since we finally closed the rest of our KKD short position.
Here is a summary of our round-trip intraday trades: VRSN short + 0.84, QQQ short + 0.69, OIH long + 0.28, SBUX long (0.33), AWE long (0.40) (net loss from two round-trips), and EBAY short (0.40) (half position size). We also closed the following swing/overnight trades today: KKD short + 9.08 (finally closed the remaining half of position for a handsome profit; love those donuts!), EBAY short + 0.70, and GE long + 0.89 (still holding half position overnight).
We took the following new trades overnight: AFCI short, AWE long, and AOC bearish option spread (sold Aug. 35 calls and bought Aug. 40 calls). We still have positions in the following overnight/swing trades: GE long (half position), JWN Aug. 20 calls short, and NVDA Aug. 90 calls short.
Trade Well!
Deron, Steve, and Ed
General Partners
intradayinvestments.com
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