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 wrote (2)	4/11/2004 4:22:54 PM
From: coferspeculator	of 14340

YHOO-Still trucking along. In March '03, YHOO jumped a major creek for a SOS. The LPS at $20 offered three potential phases with targets of $50, $59 and $79 respectively. An entry on 3/03 offered a potential 150% profit to the first target which was reached in January. On several occasions since 3/03 prices have backed up to the demand line connecting the lows of 10/02 and 3/03, offering excellent additional opportunities. In the past several weeks a stepping stone count confirmed the second phase target from 3/03 of $58. Speculations during this recent period at either the time prices approached the demand line and/or at the LPS at $44 offered potential returns in excess of 30%. On Thursday, YHOO jumped a major creek, indicating that the target of $79 for all three phases identified in 3/03 is the next objective. This has been a great speculation and expectations for further profits seem reasonable. Taking new positions at this moment, however, should be delayed. While a potential profit of over 40% is possible from Thursdays close, a much better position for entry would be on a retracement to an LPS which may very well be in the vicinity of the back up to the creek. By waiting until then the speculator will be able to confirm, deny or leave in doubt the SOS that took place on Thursday. If confirmed it may well offer a greater reward since one may be buying at a lower price. When possible it is always advantageous to test the original action. A good test of the recent jump would be a great place to add to one's YHOO position especially if the market were in an oversold position as it was at all of the above mentioned buying points.

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