Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : DAYTRADING/SWINGTRADING STOCKS with INTRADAY INVESTMENTS -- Ignore unavailable to you. Want to Upgrade?

To: Equity Trader who wrote (99)	5/24/2001 11:26:50 PM
From: -	Respond to of 565

Jerry, Well if you are shorting into upward momentum, with an online broker on a good day you can get filled just by using a limit order at the offer. Your odds of getting the timing right are much better on a direct-access, level-II platform like Realtick or Cyber, of course. And using direct access, you can put out a marginally lower offer to make the inside market so you'll be taken first if the buyers (momentum) are there. I haven't traded on Datek, but they have some nice software and a big fan club... have used many other online brokers. There is just nothing that compares to using direct access out there... using an online broker to daytrade stocks intraday is like coming to a gunfight with an old, rusted-up .22 rifle <g> Whether using an online broker or direct access, the key to getting filled on the offer when shorting (making the spread) is to get the timing exactly right. Too early, and the stock will trade over you (you could have offered it higher for a better entry). Too late, and the stock loses momentum (you're not filled). It's usually about a 5-second window you have to hit in the high-flyers. I also like putting a marginally higher bid out to cover a short near the bid into downward momentum. We were lucky enough to be short DIGL into the lows today, and got part of it covered in the 48.20's that way! Timing, which comes from gaining a good handle on the dynamics of the inside market, is everything. Steve

To: Equity Trader who wrote (99)	5/25/2001 4:13:28 PM
From: -	Read Replies (2) \| Respond to of 565

Today’s Trading Update – Friday, May 25, 2001 Today we came in long from Thursday with MSFT (Microsoft), and short CHIR & JBL. The market sold off a bit out of the gate, so we quickly exited MSFT taking a ½ point loss to start the day as Microsoft fell another point, while trailing our stop down on CHIR as it sold off for an hour. We also came in long some June Dow (DJX) puts which we unloaded into the selloff for a point of profit. The Nasdaq pulled in to the lower channel of it’s uptrend in the 5min timeframe. We illustrated the channel situation to Intraday clients in real-time with an annotated graphic (posted online) as a logical place to cover shorts. We covered our Krispy Crème short calls into the weakness taking a +1.3 point profit, simultaneously taking a small loss on a few KKD puts purchased a few days ago for a net gain on the play. We shorted some irrational exuberance in TIVO (patent news) for a half-point scalping with size, and entered DIGL short but stopped it out for a scratch. We lost $0.33 on an NSM long, $0.95 NTAP, 0.50 in TXN, and $0.26 in PMCS, and made $0.30 in RFMD. We closed out the CORR swing trade with a 1.8 pt profit. We closed out the JBL overnight short with a $0.35 loss. The semis rallied early in the day, reversed to sell off hard, then reversed up. We caught the reversal up and scalped the long side mostly in the semi's taking profits in pieces on BRCM, NTAP, OPWV, ONIS, VTSS, XLNX. We sold half the positions into strength but were stopped out for some losses on the remaining half when the Nasdaq broke the low of it's uptrend line in the 5min channel. After successfully executing a JNPR scalp short, we decided to reshort the next rally and take it short over the weekend based upon the weakness in the networking sector which continued throughout the session, and JNPR’s precarious position near the lows of a support band. The JNPR short was our only position on going into the close. All in all we churned it a bit today, which wasn't our intention but the lack of volume in the markets made it hard to get follow-through. We did walk away with a couple of points onto the board net. We had to work hard for it, but more importantly the 2 points were made without taking excessive risk and with tight loss controls on every position. A happy and relaxing Memorial Day weekend to everyone from the Intraday Investments team, and don’t forget the markets will be closed on Monday! Steve, Deron, and Ed General Partners Intraday Investments intradayinvestments.com correction to yesterday’s Trading Update – should have been titled, Today’s Trading Update - “Thursday, May 24, 2001”