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 (106)	6/1/2004 7:31:19 AM
From: coferspeculator	Read Replies (1) of 14340

Watch List Stocks- Activity for May 28 Today a look at a couple of the Building and Building Materials stocks. As a group this has been one of the stronger ones but it's starting to show some cracks, so an update on LEN, KBH and WY is provided for your considerations. WY-The count from the most recent upthrust across to January's ending action offered a potential aggressive target of $47. This area might be divided into two phases with the first phase offering a target of $57 which was reached on the SOW that occurred in response to the recent upthrust in a dramatic way. From the upthrust WY broke through both the intermediate and long term demand lines in two days. The action was nearly perpendicular. This type of action is normally followed by a rally and that rally back has been on lower volume and hasn't quite reached the half way point, as well as the ice area reached in January. The action in the coming days should be watched and if WY starts to sell off and the market which is currently in a nearly overbought condition begins to move to the downside, the original targets from the earlier upthrusts offers over 20% potential from the $60 point.

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