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Strategies & Market Trends : Timing the Trade the Wyckoff Way
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To: coferspeculator who wrote (51)4/30/2004 9:03:50 AM
From: coferspeculator  Read Replies (1) of 14340
 
Watch List Stocks-Activity for April 29

ALEX,JEC,FLR,WMS,STK,PIR

FLR-Reached its target of $41-$42 where is had an ending action. The first downside targets of $36 have been approached on several occasions. This is an ice area. There is a multiple phase downside objective of $28. The rallies from the $36 area have been on lower volume but demand has entered the market at the ice level. The upthrust on 4/27 offered a good position entry. Another good entry would be after a break through of the ice level on increased volume and spread for a potential entry on the back up or LPSY with the target of $28 as an objective.

JEC-Today's increased spread and volume to the downside indicates that JEC is attempting to fall through a major ice area. The downside target from the LPSY at $48 of $35 provided a potential 25% profit.

ALEX-Today's increased spread and volume to the downside finds ALEX in a spring position. Regardless, the character of the action isn't conducive to taking a position to the upside. Should ALEX spring, however, it is likely that the subsequent rally may have decreased volume and spread.

It is just as likely, however, that the fall through the ice level that was slightly penetrated today will continue. From the upthrust on 4/02 the first objective was $31. There is a second phase target of $25-$26. The action that takes place at the current ice level could provide a couple of good opportunities to establish a short position so it should be watched carefully.
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