Intraday Investments Stalk Sheet for Thursday, October 18, 2001
In the after hours markets the Nasdaq Futures are up 8.50 pts. and the S&P Futures are up 1.60 pts as of 7:45 am edt.
Companies in our sector model reporting earnings on Thursday include: Before the Open: ALL, BK, BAX, BLS, BA, CHKP, KO, CY, LLY, GM, GENZ, MCD, MRK, MER, NCC, PNC, PVN, PCS, After The Close: ADPT, AFCI, AMCC, ATML, CA, GLW, EBAY, EMLX, GTW, GNSS, GDT, IDPH, INKT, IDTI, IWOV, KLAC, MEDI, MSFT**, PSFT, PMCS, SFA, SUNW**,THQI, TMTA, TQNT, XLNX**
On the economic calendar for Thursday we have: 8:30 am: Initail Jobless Claims for 10/13 and The Philadelphia Fed for October.
A lot of stocks pulled back huge amounts without a reversal day on Wednesday. These type of violent pullbacks can often be followed by a gap down and a rally or a day of consolidation. Be careful not to be too bearish under these circumstances. Let the market dictate how you trade.
LONGS:
SII, Smith International, Long > 43.18, Not in sector model
This stock showed enormous relative strength in a weak market on Wednesday and the Volume was excellent. This could be a double top but the volume indicates otherwise. Above here we break the 40 ma on the daily. Be careful going long if the market is weak.
We will consider buying the following stocks on a light volume sell off or gap down: LRCX, NVLS, PALM, RIMM, RMBS, and SUNW. SUNW announces earnings after the close today.
SHORTS
EMLX, Emulex Corp, Short < 20.75 or 20.50, Computer Storage-FCE
Below Wednesday’s low of 20.75 EMLX should see some support at the 40 ma on the 60 min chart (20.50). Depending on volume and the actions in the market, we may take this one short at 20.75 or wait until it breaks 20.50.
JNPR, Juniper Networks, Short <21.00, Networking Sector, $NWX.X
Below here we break Wednesday’s low and a critical support zone at 21.00. Next support is at 20.20. JNPR sold off on big volume on Weds to close at the day’s low.
Trade Well Today!
Ed, Steve & Deron
General Partners
intradayinvestments.com
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