To: Tony Viola who wrote (87984 ) 9/9/1999 12:16:00 AM From: John O'Neill Read Replies (1) | Respond to of 186894
you wrote >>If I want to listen to analysts on market trends, I think I'll see what Abby Joseph-Cohen or Lazlo Birinyi, or even Ralph Acampora have to say.<< do you think this one is any good?...i don't follow too many...you opionion is appreciated Market Callâ„¢ for September 9, 1999 by Mark Seleznov, TrendTrader.com The purpose of this Market Call section is to educate its readers in technical analysis patterns and indicators. As with all investment information, you need to research information and consult your financial advisor before initiating any strategies that are contained in Market Call. Also, you must realize that as with all trading strategies, opinions can change quickly depending on market conditions and developments. This column presents historical examples, potential set ups, and examples of entry and exit strategies. Focus on Exit Drawing Trendlines in a Support and Resistance Channel Support and resistance can take many shapes. Sometimes it is a horizontal line across support and many times it takes the shapes an angled channel. The drawing of the trendlines is basically the same. You draw them across the bottom support. It is a good idea for a trader to be drawing trendlines on their charts to help them visualize these support and resistance areas. The chart below does not have trendlines drawn on them. You should print this chart and draw your own. Let's draw these trendlines on INTEL, (NASDAQ: INTC). On last Friday, INTC broke out to new highs from the previous high of 86 on Thursday. When a stock breaks out, it would be expected that the stock continue to trade higher. In this case, INTC could not hold the gains from Friday and are now in danger of taking out the lows of Friday. This would be a break of a 20 period low. You can also see from the chart below how that many of the indicators that we use are also signaling a Sell on INTC. The MACD actually signaled a Sell yesterday. The Momentum indicator and OBV are also turning down. I would exit longs in INTC. An aggressive trader may want to consider a Short sale here. I would place a stop on a Short sale at 88 ¾. Market Callâ„¢ for September 9, 1999 by Mark Seleznov, TrendTrader.com The purpose of this Market Call section is to educate its readers in technical analysis patterns and indicators. As with all investment information, you need to research information and consult your financial advisor before initiating any strategies that are contained in Market Call. Also, you must realize that as with all trading strategies, opinions can change quickly depending on market conditions and developments. This column presents historical examples, potential set ups, and examples of entry and exit strategies. Focus on Exit Drawing Trendlines in a Support and Resistance Channel Support and resistance can take many shapes. Sometimes it is a horizontal line across support and many times it takes the shapes an angled channel. The drawing of the trendlines is basically the same. You draw them across the bottom support. It is a good idea for a trader to be drawing trendlines on their charts to help them visualize these support and resistance areas. The chart below does not have trendlines drawn on them. You should print this chart and draw your own. Let's draw these trendlines on Intel, (NASDAQ: INTC). On last Friday, INTC broke out to new highs from the previous high of 86 on Thursday. When a stock breaks out, it would be expected that the stock continue to trade higher. In this case, INTC could not hold the gains from Friday and are now in danger of taking out the lows of Friday. This would be a break of a 20 period low. You can also see from the chart below how that many of the indicators that we use are also signaling a Sell on INTC. The MACD actually signaled a Sell yesterday. The Momentum indicator and OBV are also turning down. I would exit longs in INTC. An aggressive trader may want to consider a Short sale here. I would place a stop on a Short sale at 88 ¾.