Intraday Investments Stalk Sheet for Friday, October 5, 2001
In the after hours markets the Nasdaq Futures are up 3.50 and the S&P Futures are up 3.30 pts as of 7:42 am edt.
Companies in our sector model reporting earnings on Friday include: NONE.
On the economic calendar for Friday we have: At 8:30 am: Nonfarm Payrolls, Unemployment Rate, Hourly Earnings and Average Workweek for September & Consumer Credit for August.
LONGS:
SONS, Sonus Networks, Long > 3.64, Networking Sector-OWTP, $NWX.X
This stock closed near the high of the day on increasing volume. Above 3.64 we break the 200 ma on the 15 min chart.
P, Phillips Petroleum, Long > 54.50, Oil Sector-Major Oil Co’s, $XOI.X
Above Thursday’s high we should see next resistance at 55.80 (200 ma on the 60 min chart). Thursday was the first breakout day for this stock on increasing volume. Volume must remain strong.
SHORTS
PFE, Pfizer, Short < 40.75, Drug Sector-Major Drug Companies, $DRG.X
Below here we break the 40 period m/a on the 60 min chart on our way to breaking the neckline of a head and shoulders pattern at 40.53 on the 60 min chart. Next support is at 40.00 and then 38.75
GDT, Guidant Corp, Short <38.70, Healthcare Sector-Equip and Supplies, $HCX.X
Below here we break the 200 ma on the 15 min chart on our way to the day’s low at 38.55. Next support levels at 37.50 and 36.60. Distinct Head and Shoulders set up on the 60 min chart has formed with the neckline at 38.40. Predicted drop is to 36.00 area.
Trade Well Today!
Ed and Steve
General Partners
intradayinvestments.com
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