Intraday Investments Stalk Sheet for Monday, October 22, 2001
In the after hours market, the Nazdaq Futures are down 2.50 pts and the S&P Futures are down 2.60 pts as of 6:35 am edt.
Stocks in our sector model reporting earnings today include: APD, ELN, LXK, MMM, SBC, SO, AXP, ALTR, BSX, FMKT, OPWV, VTSS
On the Economic Calendar today we have: At 10:00 am: Leading Indicators for September.
Longs:
INKT, Inktomi, Long >5.37, Internet Sector – B2B, $IIX.X
INKT saw a huge spike in volume on Friday and closed near the day’s high. Above Friday’s high we expect to see next resistance at 5.45 (the 7 day high). Will also consider buying this one on a pullback to the 5.20 area.
IDTI, Integrated Device Tech, Long on pullback to 25.80 area, Semi Sector-MSDP, $SOX.X
On a Fibonacci retracement to support near 25.80 to 26.00 we will consider buying this stock if the pullback is on light volume and the market is cooperating. This stock saw a big burst of volume on Friday and closed near the day’s high. Will also consider going long this one on a pullback off a gap up.
Shorts:
HD, Home Depot, Short < 39.80, Retail Sector – Home Improvement, $RLX.X
Below here we break a key 3 day zone of support. Stock sold off on increasing volume on Friday to close near the day’s low. Next support near 39.41 then 38.25.
NVDA, Nvidia, Short < 45.50, Semiconductor – Graphics Video, $SOX.X
A double top in NVDA is looking likely here as Nvidia rallies up to test its highs around its highs from October 16 at $45.30. We like the fact that volume is declining as it is rallying up to its former high. Keep a tight stop in the event the double top gets broken.
Trade Well Today!
Ed, Steve & Deron
General Partners
intradayinvestments.com
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