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ARCHIVE:    JUNE 1999-SEPTEMBER 2000  

An InvestorLinks article
distributed every market day.

Xoma Ltd  (NASDAQ: XOMA)
Market Call™ for October 2, 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.

As the NASDAQ finished the worst September in 20 years with over a 12% loss, the question of where do you find a winner is on everyone’s mind? You find them in stocks that are moving up despite the poor general market conditions.

Is INTC or AAPL a buy here? Not sure, but I like putting my money on performers. Picking bottoms is a fallacy, don’t try it.

Channel Breakouts and Basing Patterns.

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 support area.

When a stock is in a defined trend, the channel will continue to step up or down, depending on the trend.

Let’s look at XOMA Ltd. (NASDAQ: XOMA).

Despite the market poor showing XOMA continues to exhibit a continual pattern of basing, then breaking out. It will base, and then break out again.

It is this pattern that we look for regardless of the price of the stock.

I am sure many thought there would have been a bottom in INTC, CSCO, and AMT long before now.

Stay with stocks in uptrends and Buy high, Sell even higher. You do not get any more credit for picking a bottom on a stock that rises 10 points than you do picking a stock that is soaring, that still moves up 10 points.

The ideal Buy would have been Friday, however a buy here with a stop at 13 � could be appropriate.

If you are not shorting stocks, you must look for the winners. The trend in the overall market is down.

Let the market tell you the direction. This method can be used with other stocks at any prices.

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: October 29, 2000

Published By Tulips and Bears LLC