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Strategies & Market Trends : Timing the Trade the Wyckoff Way
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To: coferspeculator who wrote (149)6/27/2004 7:04:41 AM
From: coferspeculator  Read Replies (1) of 14340
 
Watch List Stocks-Activity for June 25

This is one of several stocks mentioned on Todays Watch List

ACF-From the LPS at $11 this past fall there was a two phase target formed. The first phase from the LPS was $20. The two phase target from the most conservative point ($2) provided a target of $20. In the vicinity of this area there was a potential ending action.

A UTAD occurred six weeks later providing a downside target of $16 framing a potential trading range that could potentially establish a stepping stone count that would provide a target to the up or downside.

This past week ACF has demonstrated a potential SOS and is showing evidence of a potential JOC. The stepping stone count that has formed as a result of the trading range that has been in effect for nearly six months shows a potential upside target of $24-$26. This confirms the mid-point target of the two phase count from the LPS mentioned earlier.

Entry for this position ideally from an aggressive point needed to be made on Thursday. An entry at this moment is possible but the R/R is quite close. A preferred entry would be on the back up. At that time a determination could be made for the cause that has been built up for the entire area and would offer a safer entry point. The potential cause should the proper backup take place suggests a target that would mirror the target for the second phase from the earlier LPS.

The is a potential third phase from this LPS that offers even higher objectives but it's one step at a time.
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