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: fedhead who wrote (65)	5/6/2004 8:25:41 AM
From: coferspeculator	of 14340

Anindo, You can use Wyckoff for nearly any stock or commodity. Most professional commodity traders are well aware of Wyckoff and many of them use it. Regardless of whether its commodities or stocks you need to decide which issues you wish to follow, keep track of the data, and apply Wyckoff to it. The only suggestion I'd make is to see how well the stock has responded in the cause and effect relationship. For example, with new companies that don't have a trading record it wouldn't be possible to determine cause and effect. When Google comes to market you couldn't make that judgement. A quick glance at the three new ones you mentioned shows that ERES has been trading at lease five years, GPRO less than two and TASR for approximately three years. I follow FCX so this might be of interest. It showed targets of $42-$45 (over 200% potential proft) from a couple of springboard positions when it was in the trading range in late '02. As it approached these levels in late '03 a number of the other metal companies were also approaching their respective targets. Wyckoff advises that these are the areas when one should keep an eye out for ending actions which they had. Positions should have been exited at that time. In early March, FCX had an upthrust at $44 and the test of the upthrust at $43 showing potential downside targets for the first phase of $36 (16%) which was the ice level and a second phase target of $30 (30%). This was a great short opportunity and FCX reached the $30 target in the past several days. Wyckoff provides the opportunity to go long or short with equal effectiveness. Speculations in FCX would have offered substantial profits for anyone that took positions in it.

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