This is one of my favorite type of examples...a long and a short on the same day! It involves homebuilders Lennar and Centex. In this example, we go long the pair at 10:15am and sell it at 10:35am for a $.58 profit. Then an hour later we short the pair and cover it 45 minutes later for another $.58 profit. Don't worry about missing the trades, the IPTS has alerts that let you know exactly when to put the trade on.
Here is another trade in a pair that was done twice in the same day. This one involves Verizon and AT&T. The spread is shorted at 10:24am and bought back 20 minutes later for a low risk $.30 profit. Later in the day, another trade alert is given and the same trade is done again!
Heres one with Bank of America and Citigroup. In this profitable trade, we went long at $.14. The spread slowly moved up until and reverted back to its mean for a nice profit of $.53.