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 (83)	5/18/2004 7:55:14 AM
From: coferspeculator	Read Replies (2) of 14340

Watch List Stocks-Activity for May 17 This is one of several stocks that were discussed on the Daily Watch List MBG-The PSY/BC/AR/ST consequence during March and April was an ending process. The short term uptrend line was broke in early May and the subsequent count from the LPSY at $56 across to the PSY provided a conservative target of $52 which was exceeded providing a return of 10% in less than a week. The potential count from the LPSY line shows a target of $46, offering speculators a possible greater return. Additional bearish indicators occurred last week as the intermediate uptrend line was broken. The SOW that has occurred from the ST shows a decline of over $10 in three weeks. The recent expected rally has been weak which is confirming the larger SOW from the ST. Close attention should be paid to the current rally and new or additional short positions could be considered for the potential next swing down.

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