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Strategies & Market Trends : Timing the Trade the Wyckoff Way -- Ignore unavailable to you. Want to Upgrade?

To: coferspeculator who wrote (41)	4/25/2004 7:36:04 PM
From: coferspeculator	Respond to of 14340

FLEX-Jumped a creek today on an increase in volume. There were two phases from the LPS in June '03 at $10 following a jump across the creek. The first phase provided for a conservative target of $17 and an aggressive target of $21. In February it hit the midpoint of $19. The second phase targets are $27-$31. In late March the market entered a very oversold condition at the same time that FLEX touched the demand line off the April low. The resulting SOS with a low volume reaction forming an LPS above the half way point and the resulting stepping stone count offering a possible $22-$23 target. Not only would this confirm the earlier aggressive count form last years LPS it indicates a possible major jump across a major creek (the top of the trading range). A backup from this area would suggest that the targets from the LPS last year for both phases of $27-$31 would be possible. A potential $5 profit or 33% was provided for those taking a position at the demand line during the oversold period in late March. There is a much greater potential should a major jump occur. The action of the last three days indicates that a jump is probable but it would be best to wait at this moment since an upthrust is possible. A back up offers the least risk for those wishing to establish a position at this time.