Intraday Investments Stalk Sheet for Tuesday, September 18, 2001
In the after hours market, the Nasdaq Futures are up 13.50 and the S&P futures are up 6.00 pts as of 10:35 pm edt.
Companies in our sector model reporting earnings on Tuesday include: BBY.
On the economic calendar for Monday we have: Due out at 8:30 an edt. – CPI and Core CPI for August.
The markets were thrashed on Monday as could be expected given the tragic events of last week. The $COMPX, The $SPX.X and The $DJI all broke and closed below critical support levels. Needless to say, this does not bode well for the markets even if we be manage a rally tomorrow. There is major resistance overhead and until the markets prove otherwise, I would expect any significant rallies to be met with just as significant selling. However, due to the fact that the markets are severely oversold, It is unsafe to consider short set ups and just as unsafe to play set ups on the long side of the market since we have broken major support. My thoughts for the short run are to stay mostly in cash and trade the direction provided by the markets intraday.
LONGS:
To be determined intraday.
SHORTS
To be determined intraday.
Trade Well Today!
Ed, Steve & Deron
General Partners
intradayinvestments.com
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