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A new Market Call is posted
every market day.

Amgen Inc, AMGN
Market Call™ for September 14, 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.

Biotech leader Amgen, AMGN, was sold off during this recent sell off. AMGN had a picture perfect Island Reversal on September 1, when it hit a low for the move, but finished up on the day and then continued higher the next day.

After a strong day Friday, AMGN finished above a prior resistance area of 72, which was resistance from August 10.

AMGN's MACD turned to a Buy Signal of September 9. Momentum is now positive. The stock has closed above its 50 day moving average.

AMGN now seems poised to continue high from here, as a general market rebound is under way.

I would always use a stop. I would place my stop at 66.
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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. 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.

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