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

To: coferspeculator who wrote (86)	5/19/2004 11:09:48 AM
From: coferspeculator	Respond to of 14340

Watch List Sector and Stocks-Activity for May 18 The Metals and Mining Group recently attained the downside targets from upthrust that occurred in late February. The PS, SC, AR, ST confirmed the likelihood the ending action. This ending action has occurred at the half way point from the spring in April '03 and the recent upthrust - a long term perspective. Today's action found the group trading on a wide spread with higher volume closing above the supply line off the upthrust. Additionally, we have a Wee or a break above the first leg of the N formation. This is the AR point so it merits close attention. If this move continues up, which seems likely at this moment, then the possible SOS that has begun should take the group up to or through the PS level. The count from this level assuming a good LPS would target the previous trading range. This action finds this group acting stronger than the market so I've commented on some of the stocks from that group. The stocks mentioned below are ones to be keeping an eye on. I'll be updating the XAU and it's stocks tomorrow.

To: coferspeculator who wrote (86)	5/20/2004 8:01:31 AM
From: coferspeculator	Read Replies (1) \| Respond to of 14340

Watch List Stocks-Activity for May 19 This is one of several stocks mentioned on Today's Watch List. NEM-The ending action sequence of PS, SC, AR, ST occurred in the vicinity of the downside target of $36. This is also in the vicinity of the half way point between the lows in '03 and the highs of this year. NEM has rallied back to the PS point so a conservative count from the $35 area offers a potential target of $40. The action, however, on the last three high volume days has found the close near the lows. In all three cases supply has meet demand. Today, NEM had an intra-day failure to the upside as it approached the short term supply line. At this time it is likely that additional testing within the trading range is likely that will provide for a larger count. While it appears that the short term supply line is still offering resistance, the reverse use of trend lines shows another picture. Additionally, there is currently a larger down side target when looking at a second phase. These unanswered questions and the doubts that arise from them advises that waiting to see what happens in the near future will assist in determining the probable future action of NEM. The XAU will not be able to progress significantly in either direction without the co-operation of NEM. Patience is required.