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ARCHIVE:    JUNE 1999-MARCH 2000  

An InvestorLinks article
distributed every market day.

Apple Computer  (NASDAQ: AAPL)
Market Call™ for April 17, 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.

  • Drawing Trendlines in a Support and Resistance Channel

    Support and resistance can take many shapes. Sometimes it is a horizontal line across support and many times it takes the shapes an angled channel.

    The drawing of the trendlines is basically the same. You draw them across the bottom support. Many times you will find the resistance trendline as a parallel line.

    It is a good idea for a trader to be drawing trendlines on their charts to help them visualize these support and resistance areas. The chart below does not have trendlines drawn on them. You should print them out and draw your own.

  • Let’s look at Apple Computer (NASDAQ: AAPL).

    Print out this chat and let’s draw these trendlines on AAPL.

    By looking at the chart below, a trader would draw a Support trendline across the recent support at 110 and short-term resistance at 120.

    Despite some of the biggest selling in NASDAQ and computer stocks, AAPL is trying to hold up.

    Can it? That is the question.

    The way to play this is to play the breakout of support and resistance over the past few days of trading.

    Buyers have come in to AAPL in the 110 area and sellers are selling at 120. A support and resistance trader will let the market tell him which way AAPL will break.

    This is done by placing a Buy stop at 120 � and also entering a Sell Short if AAPL drops below 109 �.

    Whichever way AAPL goes in the morning, a trade can be entered in the direction of the trend.

    I would place my stop 3 points from entry, after the trade is entered in either direction.

    AAPL looks like it wants to go lower, but wait for confirmation.

  • 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