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	4/22/2004 8:46:44 AM
From: coferspeculator	Read Replies (1) of 14340

Watch List Stocks-Activity for April 21 QCOM,MGG,BDX,PD,TXT,MGM MGG-Reached it's target of $49 in early April when the market was overbought. The expected reaction had it touching its demand line last week. Today it traded higher with an increased spread on higher volume. There is a more aggressive target from the LPS at $30 from last year of $56. Additionally, a conservative target from the BEC from last year at $33 indicates a possible $57. Multiple confirmations increase the confidence in a target especially when the market is in harmony with the stock. Adding to or taking a new position last week as the market became oversold was a possibility. Taking a position right now in the middle of the range is more risky. A better opportunity would be for a stepping stone count to form in the current trading range. This would provided for a much less risky entry and offer a profit of at least 20% should it occur.

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