Intraday Investments Stalk Sheet for Friday, October 12, 2001
In the after hours markets the Nasdaq Futures are up 19.00 pts. and the S&P Futures are up 3.90 pts as of 9:30 pm edt.
Companies in our sector model reporting earnings on Friday include: None.
On the economic calendar for Friday we have: 8:30 am: PPI, Core PPI, Retail Sales, Retail Sales Ex-Auto, and at 10:00 am: Univ. of Michigan Sentiment Prelim.
Based on after market action, it appears that we will gap up in the morning. Due to this likelihood, most set ups will be disrupted and therefore we shall look for trade set ups on an intraday basis. If the gap up is large, we will consider shorting any stocks that gap up in the morning that closed near the lows of the day on Thursday and whose gap up volume on Friday was modest.
We need to be cautious and remember that we are still in a bear market. Don’t let your guard down as bear market rallies are sudden and fierce and tend to reverse on a dime. Don’t be greedy. Take profits along the way.
LONGS:
Possible candidates include: NT, LXK, SUNW, CIEN, ADPT, KLAC, SFA and SEBL.
SHORTS
Stocks that closed near the lows of the day on Thursday: PFE, PMTC, AETH, DO, SLB, RNR, SUN, SYMC, INTU, IMCL and GILD.
Trade Well Today!
Ed, Steve & Deron
General Partners
intradayinvestments.com
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