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ARCHIVE:    JUNE 1999-AUGUST 2000  

An InvestorLinks article
distributed every market day.

Micron Technology  (NYSE: MU)
Market Call™ for September 8, 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.

An example of discipline and use of our main trading
signals on a trade.

Everyday in this column, examples of stocks with defined set ups are highlighted for possible trades and as examples of using a trading plan.

The main examples use the MACD indicator. Channel breaks of support and resistance primarily using a 20 bar break. Moving Average crossovers of a 5 and 20 period time frame. The use of Momentum to help identify confirming changes. Volume and On Balance Volume as confirming indicators.

Occasionally, patterns such as retracements and Head and Shoulder formations will point our possible trading opportunities.

The use of stops is ALWAYS part of any trading decision.

Although no indicator or pattern works all the time, the track record with the use of stops has hopefully helped you in your trading. I am happy to have heard from so many of our readers especially in their comments on the use of stops.

Let’s look at Micron Technology (NYSE: MU).

On Wednesday morning, September 6, 2000, an analyst at DLJ downgraded MU and the stock dropped 8 � points. Were followers of the plan unhappy? I don’t think so. They were either out or short. Out is a trading decision.

MA 88 7/8 on Aug 21. MACD Aug 25 at 10:00 Am at 88 7/8. A 20 bar low on August 28 at 88.

There was a small Head and Shoulders formation from August 21 through August 28.

Confirming falling Momentum during those periods. Confirming falling OBV during the period of late August.

Any reader of this column would have been out by Focusing on Exit and use of stops or Short in the 88 to 88 7/8 areas. MU closed Wednesday at 70.

These discipline traders are sitting with nice profits and the drop on Wednesday was profit, not pain.

Follow a discipline and stay with your plan. Always use stops in any trade.

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