A new Market Call is posted
every market day.
Applied
Materials Inc, AMAT
Market Call™ for September 17, 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.
The strong usually get stronger, and the weak get weaker.
The relative strength of a stock against the general
market is an important indicator. I monitor my stock list
against the Dow or S&P in relationship to percentage
gain or loss. When I see a stock continually stronger on
a percentage gain basis or continually weaker than the
general market, it gets my attention.
The trend of Applied Materials, AMAT, has been down for
the past few weeks. Over the past week, it has been
consolidating between 24 and 26. Despite some positive
market days, AMAT has failed to have any rally and is
currently near its yearly low.
All technical indicators are pointing toward lower
prices.
I would sell AMAT short here.
I also would not only place a stop at 26, but should AMAT
break above 26, I would not only cover, but go long the
stock.
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. 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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