Co-brand Partnerships

award-5.gif (6517 bytes)
Vote for Us

topsite.gif (1668 bytes)

webfifty.gif (6027 bytes)

 


 
drop_center.gif (2753 bytes)


wpe1.jpg (2095 bytes)


FREE EMAIL
Email Login
Password
New Users Sign Up!
 
NEWS SEARCH
WEB DIRECTORY
WEB SEARCH
 CITY GUIDES
search by:
 WEATHER

Current Weather
Enter Your City, State, or Zipcode:

   

MASTERING
THE TRADE

ORIGINAL, INTERACTIVE SEMINAR ON TRADING USING
TECHNICAL ANALYSIS
 

 
EARNINGS ESTIMATES

Enter Symbol

U.S. QUOTES

Enter Symbol:

U.S. CHARTS

Enter Symbol:

TECHNICAL OPINION

Enter Symbol:

CANADIAN CHARTS

Enter Symbol


 SEC FILINGS

Search For:
 

Company Name
Ticker Symbol

 BROKER RESEARCH
Exclusive Broker

Research
Enter Ticker

 

ARCHIVE:    JUNE 1999-MAY 2000  

An InvestorLinks article
distributed every market day.

Novellus Systems  (NASDAQ: NVLS)
Market Call™ for June 14, 2000
Contributed by Mark Seleznov, TrendTrader.com.

The purpose of this Market Call section is to educate 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 tries to present historical examples, potential set ups, and examples of entry and exit strategies.

Retracements

The following forecasting method is an approach to charting price retracement in stocks, commodities, indexes, or any free market. It is a study of momentum, an evolution somewhere between Gann and Elliott Wave that allows traders to project an ideal entry price in a stock after a correction in price.

In this approach, a price move of any proportion will attempt to retrace itself by 38%, 50% to 62%. I know the purists use 61.8%, but I have found 62% serves me well.

A trader who applies these correction techniques spelled out in the following calculations, will quickly develop a new market perspective, a perspective of market direction. When a trader uses this wave analysis in combination with cycle analysis, as I do, the probability of success is magnified.

Remember that stocks do not go straight up, nor do they go straight down.

The validity of this technique is enhanced by the fact that it can be used for intraday trading or longer-term projections. In my own trading, I use it with 5-minute and 10-minute bar charts, yet it proves it accurate over other time frames too.

It can be applied to rising markets as well as declining ones with no noticeable difference in results.

Let’s look at Novellus Systems (NASDAQ: NVLS).

The example here in NVLS is using 60-minute bars as the time frame. This example is similar to many stocks that are currently in a retracement - including the NASDAQ market.

NVLS rallied from a low of 36 � on May 24, 2000 and rallied up to 58 1/8 on June 5.

Over the past 6 trading days, NVLS has been drifting lower and now has retraced 38% and also filled a gap from the June 1 close.

Today, June 13, 2000, NVLS moved to the low of June 1 before the gap and may have found support where it can move higher from the retracement.

We do not always know how much a stock will retrace, so we take an educated opinion based on action of other support areas. If NVLS can hold today’s low, I can see higher prices ahead.

I would Buy NVLS on any up or unchanged open. I would place a stop at 49 �.

If NVLS gaps down due to economic reports, do not take the trade.

Chart courtesy of
 


Interested in adding Market Call to your website?
Click here for details: Market Call Information

Mark A. Seleznov is a General Securities Principal and Managing Partner of Trend Trader, LLC, a NASD, SIPC broker/dealer firm located in Scottsdale, Arizona. A professional trader for over 25 years, Mark was a Market Maker on the Philadelphia Stock Exchange, a Retail Registered Representative, and futures trader. Mark is an author and recognized expert in equity Day Trading. He conducts seminars in Equity Day Trading and offers his firm traders training and support. If his firm holds any positions in the public companies he writes about, it will be noted at the bottom of his article.

Market Calls is a daily syndicated column on trading by Mark A. Seleznov, Managing Partner of Trend Trader, LLC. For information on obtaining Market Calls for your web site, newspapers, or publication, contact
Trend Trader, LLC at 602-948-1146

Disclaimer: Trading in securities may not be suitable for all individuals. Consult your broker or other professional to determine your suitability. This is not an offer to buy or sell securities. The advice given above is of a general nature and should not be taken as a recommendation to buy or sell the referenced security.

 
Search for it at the TulipSearch Open Directory
Investment Bookstore Investment Newsstand Market Mavens Report

TULIPS AND BEARS NETWORK SITES

 

FINANCE
Tulips and Bears
Contrarian Investing.com
Internet Stock Talk
Traders Message Boards
Traders Press Bookstore

NEWS AND INFORMATION
TulipsWeather
Freewarestop.com
TulipsMail
TulipsEspa�ol
TulipSearch
TulipNews
TulipCards
AllMusicSearch.com
City Guides
Travel Center
Bargain Bloodhound...coming soon

WEBMASTER TOOLS

TulipHost
BecomeAnAffiliate.com
TulipDomains
GoSurfTo
TulipStats
...coming soon
TulipTools...coming soon

Questions or Comments? Contact Us

Copyright � 1998-2000 Tulips and Bears LLC.
All Rights Reserved.  Republication of this material,
including posting to message boards or news groups,
without the prior written consent of Tulips and Bears LLC
is strictly prohibited.


Last modified: March 17, 2001

Published By Tulips and Bears LLC