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ARCHIVE:    JUNE/JULY

A new Market Call is posted
every market day.

Priceline.com Inc (NASDAQ: PCLN)
Market Call™ for September 3, 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.

Channel Breakouts

Channel Breakouts are a popular method of trading stocks. The principal behind a Channel Breakout is that when a stock trades above the highest price or below the lowest price in the last N (number of periods) number of periods, a new trend may be starting to take place.

This channel trading method can be used in any number of periods from minute bars to weekly time frames. The results of using such a method will often result in a stock moving above a defined resistance or below a defined support area.

I feel that with any pattern, indicator, or strategy, the key is to recognize when it works and when it doesn’t. A pattern or indicator tested over a long period of time may only have a 50-50 chance of working out in a trader’s favor. A key to successful trading is to limit losses with stops and recognize when the pattern or indicator did not perform as expected.

Yesterday we looked at a stock breaking to new highs.

Let's look at a breakout today to new lows in Priceline.com, (NASDAQ: PCLN).

After trading in a range for the past few weeks between 66 and 76, PCLN broke to new lows today. This low was not only a low for the last 20 bars or for the last month, but approaching a low for the year.

When a stock is breaking lows, many times it will continue to run lower. The stock should continue to trade lower from here. I would Short PCLN here. The stock should continue to move lower from this break immediately. I would place a stop at 68.

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