Timing the Trade the Wyckoff Way Message Board

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Strategies & Market Trends : Timing the Trade the Wyckoff Way

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To: coferspeculator who started this subject	6/7/2004 5:26:04 PM
From: coferspeculator	Read Replies (1) of 14340

Today the market traded to the upside on higher volume and increased spread as demand controlled the day without any pressure from supply, ending the day at the highs in a nearly overbought condition. As has been mentioned on several occasions, taking short positions when the market is overbought without appropriate pressure to the downside isn't the best strategy. The overbought condition of last week without the support of downside pressure offered potential for taking long positions on reactions. Until the pressure to the downside increases substantially, there is little reason to consider short positions. As long as the force is to the upside, overbought conditions should offer better opportunities to take long positions on reactions. This was the case during the past week and should continue until demand is met by supply in a manner great enough to suggest that downside pressure similar to this past month is re-establishing it's presence.

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