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ARCHIVE:    JUNE 1999-AUGUST 2000  

An InvestorLinks article
distributed every market day.

Tollgrade Communications  (NASDAQ: TLGD)
Market Call™ for August 7, 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.

Confirming Signals

It is nice when more than one technical indicator is present in a stock.

It is not unusual for a stock to have conflicting signals. This is especially true with multiple time frames. We are using a 60-minute bars in our short term trading

Each day, I use 4 major indicators to help with education and stock selection. They are Moving Average Crossovers, MACD, Momentum, and On Balance Volume (OBV).

Let's look at Tollgrade Communications (NASDAQ: TLGD).

Just a couple of weeks ago on July 13, TLGD hit 168. Over the next two weeks, TLGD was trashed down to low of 78 5/8 on August 3.

In this column each day we look at MACD, Moving Averages, Channel Breakouts, Momentum and pattern recognition. TLGD now confirmed just about every one of these Buy signals on Friday.

TLGD is a Buy.

I spent some time looking at the chart and found some other interesting technical patterns and indicators that also confirmed a Buy here.

I looked at a daily and did a Fibonacci retracement on a daily from the low of April 13, 2000 of 31 � to the high of 168 7/8 on July 13. I found just about a 62% retracement of that move to the support low.

I also looked at a daily and a volume climax that is usually seen at market tops and bottoms occurred on August 1.

There is no guarantee that any trade will ever work out. As a trader, we are dealing in probabilities with sound risk management techniques.

The probabilities look good here with many confirming indicators.

I would Buy TLGD here.

I would place a stop at 94 �.

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

Published By Tulips and Bears LLC