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ARCHIVE:    JUNE/JULY  AUGUST/SEPTEMBER

An InvestorLinks article
distributed every market day.

America Online (NYSE: AOL)
Market Call™ for October 1, 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.

Focus on Exit; Take what the market gives you, the market is always right.

Many of the Internet stocks have rebounded recently. Rumors abound about mergers, deals and other combinations that have stirred recent price moves.

We know what support and resistance looks like and can draw trend line across these key areas. We have seen how a tool like moving average crossovers can help keep you in a trend.

Let's look an exit strategy using America Online (NYSE: AOL).

On September 21, 1999, AOL broke a short-term resistance and moved higher. This move was also confirmed by crossing moving averages that you see daily in this column. I am now seeing some warning signals and I would be ready to exit and possibly enter a short position in AOL.

>From the chart below, you could draw a trend line across the lows from September 20 and 23. A resistance line can be drawn at 112.

I am concerned with the action in the MACD, Momentum and OBV indicators. The MACD and Momentum indicators have lower highs and lower lows. OBV seems to be rolling over. The risk vs. reward seems low here and a break below 104 would really spell trouble for the stock.

I would exit AOL at 104 if it breaks below that point. If it turns around from here and goes up, then stay in the stock.

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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