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ARCHIVE:    JUNE 1999-AUGUST 2000  

An InvestorLinks article
distributed every market day.

Electronics For Imaging  (NASDAQ: EFII)
Market Call™ for August 29, 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.

Pattern Recognition, Time Frame and Price � Filling a Gap.

When using technical analysis pattern recognition or an indicator for trading, the time frame and price should work with any priced stock or in any time frame.

Technical analysis attempts to predict future price behavior by measuring the crowd psychology in many cases and the strength of the opinions, fear and greed of traders and investors. The more participants in the crowd may often result in a higher percentage of accuracy. The same patterns do work with low priced stock, especially when volume accompanies the start of a breakout or reversal in a trend.

Since most traders are trading many of the widely held issues, this column focuses on many large name stocks that trade over a million shares a day.

Electronics For Imaging (NASDAQ: EFII)

Remember that we are looking at hourly bars now. I invite you to look at this and all stocks on daily time frames, if that is your time frame for trading. A buy or sell on an hourly bar chart may not generate the same signal in different time frames.

Filling a gap.

Stocks that have gaps in a chart where there is no trading, usually come back to fill the void in the charts.

This happens both with gaps to upside and the downside.

One of the most amazing gaps that I just saw filled was EMLX that filled up gap from August 3 at 48 to August 4 at 62, on Friday during the fraudulent Press Release fiasco. (See daily chart below) EMLX hit a low of 43 Friday August 25, 2000.

EFII had a gap down back in early June.

Recently, EFII has formed a base and today broke above the July 18 high of 27.

This breakout should now allow EFII to possibly fill the June gap and run to 35 over the next few days.

I would Buy EFII on any up or unchanged opening. I would place my stop at 27 �.

Do NOT take the trade if EFII gaps down in the morning.

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: November 11, 2000

Published By Tulips and Bears LLC