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Strategies & Market Trends : Timing the Trade the Wyckoff Way
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To: coferspeculator who wrote (53)5/2/2004 10:21:30 AM
From: coferspeculator  Read Replies (1) of 14340
 
Watch List Stocks-Activity for April 30

CTB,BOL,MCK,NTY,F

CTB-In October of last year CTB jumped the creek and entered a trading range before backing up finally to the edge in mid-March where it had a #2 spring. The test of the spring ($18 1/2)when the market was oversold resulted in a near straight line move to the former highs of February. The conservative target from the test suggested a target of $23. A more aggressive target shows the potential of $27. The stock reached the conservative target of $23 for a 20% profit in three weeks.

The move up from the test to the conservative target was a potential SOS. The character of the action since indicates that it is more likely that a back up to a minor branch that was jumped mid-month and a potential LPS of the SOS is more likely than a possible SOW that might be considered at the upthrust.

The current more aggressive target offers over 20% upside potential. If a successful test of the upthrust occurs then the position could be exited with short term profits.

F-Ford recently jumped a minor branch of the creek during April. It has a $21 target and is now backing up to that minor branch. Volume and spread decreased on Friday. It appears that the possible SOS that took place when the jump occurred will be confirmed with a successful LPS test. The next major impediment to F is the supply in the $17 area. A successful jump of this will be very positive for F.
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