Intraday Investments Stalk Sheet for Monday, October 1, 2001
In the after hours markets the Nasdaq Futures are down 4.00 and the S&P Futures are down 1.10 pts as of 9:45 pm edt.
Companies in our sector model reporting earnings on Monday include: WAG.
On the economic calendar for Monday we have: At 8:30 am: Auto and Truck sales for September, Personal Income for August and PCE for August. At 10:00 am: Construction Spending for August & NAPM Index for August.
LONGS:
ADBE, Adobe Systems, Long > 24.25, Software Sector – Productivity Apps, $GSO.X
Above here we break Friday’s high and the 40 ma on the 60 min chart. ADBE finally showed signs of reversing on Friday on a Strong burst of volume. Appears as if stops were “swept” on this one in the morning on Friday on light volume. Next resistance at 24.60.
VTSS, Vitesse Semiconductor, Long > 7.86, Semiconductor Sector-Mixed Signal Datacom, $SOX.X
VTSS formed a double bottom on Friday and then rallied to close near the day’s high on double the average daily volume. Above here we will see resistance at 8.00 then 8.25.
ERTS, Electronic Arts, Long > 46.67, Computer Software-Entertainment, $GSO.X
Above 46.67 ERTS breaks the neckline of an inverse head and shoulders on the 15 min chart. Next resistance near 48.00.
SHORTS
STJ, St. Jude Medical, Short <67.75, Healthcare Sector-Equip and Supplies, $HCX.X
Although we have taken this one as a swing trade from Friday, we may also enter it short as a day trade below Friday’s low of 67.75. Below 67.75 we break the 20 and 40 ma on the 5 min and the 40 ma on the 15 min chart. We also break Thursday’s close.
GDT, Guidant Corp, Short < 38.40, Healthcare Sector – Equipment & Supplies, $HCX.X
Below here we break Friday’s low, the neckline of a head and shoulders pattern, the 20 ma on the 60 min chart and the 200 ma on the 5 min chart. Next support is at 37.60. Predicted drop from head and shoulders setup to 37.00.
Trade Well Today!
Ed, Steve & Deron
General Partners
intradayinvestments.com
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