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ARCHIVE:    JUNE 1999-JANUARY 2001  

An InvestorLinks article
distributed every market day.

Protein Design Labs Inc  (NASDAQ: PDLI)
Market Call™ for January 24, 2001
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

Once you have a nice profit in a trade, the next issue is exit. Depending on what pattern or indicator initiated the trade, the same indicator or another indicator or pattern may help you to exit.

PDLI has continued to break through resistance levels and continued to look strong throughout the trading day on Tuesday, moving from $57 up to about $66. With the market looking pretty strong and PDLI following in its footsteps, I wouldn’t recommend just selling your position in PDLI and potentially neglecting yourself of continued profits from this position. It is necessary at this point to continue to carefully monitor your indicators to determine your exit point. There may be a couple of different indicators that will tell you when this is.

Toward the end of the day on Tuesday my shorter 5 period moving average looked like it was beginning to roll over, moving back toward the direction of the lagging 20 period moving average. The MACD appears to be giving a similar indication, moving toward crossing through the MACD signal line.

PDLI also seems to have some short-term support at about $64 7/8. A break through this support level could lead to a quick, volatile drop back down. Be sure to have your stop order in if you can’t actively monitor your position.

For tick by tick charting and quotes for trading, use Trend Trader TORS Software.

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: January 25, 2001

Published By Tulips and Bears LLC