XLNX fissures our choice for 2trend day XLNX exactly 2 trends. We kind of figured techs would be up this morning (AMD also a long with ADIC)but as expected profits should be taken and hard stops for the rest (intraday I divide into 3 or 2 increments, taking profits first about 1/2 to my goal then raising trailing stop to break even, usually if I don't get stopped out at a tight stop after a break from consolidation I get the next move (up) and take another 1/3 Final third into the close. So far this has NOT YET even been applied in long plays for 2 months but this has been the strategy of HOLDING OUR SHORTS, hence we are holding shorts almost to the last 45 minutes from the first 10:00 high. I doubt very much any long plays in technology will allow this much "leisurely" long term daytrading.
The strategy changes with earnings plays, Yesterday shorts like TOL/ LEN/ and AZO were held into the last moment and we still have some puts in LEN and TOL although balanced now with calls. The beauty is that once the report is out, you have for the most part a leisurely, uneventful short for much of the session (what we call the gap 'n crap)
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