A new
Market Call is posted
every market day.
Disney
Co, Walt, DIS
Market Call™ for July 31, 1998
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.
Splits and Support Lines
Some people feel that just because a stock splits, it will continue to rise. That is NOT
true. There is NO evidence that after a stock split, a stock will continue to rise.
After DISNEY, DIS, split on July 10th, there was an initial surge as there sometimes is
after a split. However, DIS failed to move higher and is currently lower than before the
split.
Further, on a split-adjusted basis, at the current 35 level, DIS is at critical support.
If DIS breaks this 35 support level, that goes back to January 98, I see lower prices
ahead.
I would exit longs on a break below 35 and consider a short position at this level. I
would place my stop at 37.
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. His popular radio show, Let's Talk Trading airs Saturdays at noon on
KFNN 1510 AM in the Phoenix area. He conducts seminars in Equity Day Trading and offers
his firm traders training and support. Mark writes articles for market publications and
Internet sites that focus on trading.
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.
© Copyright 1998, BizFN.com. All rights reserved. This material is for personal use only. Republication and redistribution, including posting to news groups, is expressly prohibited without the prior written consent of BizFN.com. The content provided within the BizFN.com web site is provided for informational purposes only, and should not be construed as investment advice. At no such time should information contained on BizFN.com be considered an offer to buy or sell securities.