Intraday Investments Stalk Sheet for Tuesday, August 28, 2001
In overnight action, the Nasdaq Futures are down 4.00 points and the S&P futures are down 1.00 points as of 11:54 pm edt.
Companies in our sector model reporting earnings on Tuesday include: CMVT and FNSR.
On the economic calendar for Tuesday we have: Consumer Confidence for August.
LONGS:
ONIS, ONI Systems, Long > 15.24, Networkers-NGPS & ME, $NWX.X
Above here we break the 200 ma on the 15 min chart. This stock closed near the high of the day on increasing volume on Monday.
SANM, Sanmina Corp, Long > 20.25, Computer Hardware-Manufacturing, $HWX.X
Above here we break the neckline of an inverse head and shoulders on our way to resistance at 20.85. SANM closed on strong volume on Monday near the high of the day.
CRUS, Cirrus Logic, Long > 14.51, Semiconductor-Mixed Signal, $SOX.X
Above here we break the neckline of an inverse head and shoulders pattern. Volume must increase significantly for this one to break out. Next resistance at 15.00 area.
SHORTS
KO, Coca Cola, Short < 48.40 or on light vol. Rally or gap up near 48.40, Consumer Non-Cyclicals
KO broke a three week up trend line on Monday and we would not be surprised to see a rally into the former up trend line before heading lower. Next support at 48.00 and then 47.50.
GILD, Gilead Sciences, Short <61.35, Biotech Sector-Infectious Research, $BTK.X
Gilead rallied strongly in the morning on Monday only to sell off at the close on strong volume to end the day in the middle of its trading range. Below 61.35 we have some support at 61.00 and below there we could see 58.80.
MEDI, Medimmune, Short < 41.35, Biotech Sector-Infectious Disease Research, $BTK.X
Medimmune formed a reversal candlestick on the daily chart and sold off into the close on Monday. A head and shoulders pattern is setting up on the 5 min chart with the neckline at 41.00. Below 41.00 we have support at 40.50 and then we could see 39.00.
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Ed, Steve & Deron
General Partners
intradayinvestments.com
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