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ARCHIVE:    JUNE/JULY

A new Market Call is posted
every market day.

AT&T Corp (NYSE: T)
Market Call™ for July 23, 1999
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.

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.

Defining Trend

We hear the comment over and over again that a trader should trade in the direction of the trend. This is critical for Intra Day traders, short term and even mutual fund managers.

But how does one define trend. The first requirement is to define time frame. The trend on a 5 minute bar chart may be different than that of a daily bar chart.

The time frame can differ between, but the indicators and studies still work in most time frames. For our example here, we are going to use the crossing of a 5 period exponential average and a 20 period exponential moving average. Moving averages will never get you in at the bottom of a move, and will not get you out at the top. It will help you catch the meat of major trends.

As a Day Trader, I always have my finger on the button. When I see a indicator that says exit, I am out. There are no ifs, ands, or buts. You have a plan and stick to it.

Since I am in front of a machine all day, it is easy for me to enter and exit trades. For others, an order in anticipation of a signal may be appropriate. For this educational column, we are using 60 minute bar charts.

Let's look at an example in AT & T, T

On July 9, T gave a sell signal using our moving average crossover method. Late yesterday, on July 21, T signaled a Buy. The indicator gave a signal. However, not all signals work out.

Today, July 22, 1999, T reversed again to a Sell signal and/or a Short sale signal. I have seen many stocks recently try to rally, but I am seeing these rally attempts fail. The idea of following a trend method such as moving averages is that it will whipsaw a trader with small losses, but should keep a trader on the right side of major moves.

Based on this fresh signal, I would exit T here. An aggressive trader may want to consider a short sale at this time. I would place my stop at 56 �.

I am sure you have heard, let your profits run and cut your losses. Moving average crossovers help you with the discipline if you follow the rules. This method also works well with 5,15, or 30 minute bars. Have a plan and stick to it!

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.

 

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Last modified: March 17, 2001

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