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

To: coferspeculator who wrote (98)	5/25/2004 9:50:22 AM
From: coferspeculator	Read Replies (1) \| Respond to of 14340

Watch List Stocks-Activity for May 24 This is one of several stocks mentioned in Today's Watch List BRCM-From the April '03 LPS at $12 there was a three phase count across to the PS in July '02 that offered a conservative count to $45. In late January '04 BRCM had an ending action (BC) at $44 providing a return of over 266% in 10 months. The count from the ST to the BC offered a target to the downside of $36. On three occasions BRCM has approached this level and rallied away from it. The resulting trading range has been in place for nearly four months. On May 17th, BRCM entered a spring condition and the resulting action has confirmed the spring. This past Friday, BRCM traded and closed near the highs of the day on increased spread and higher volume, ending the day above the half way point. This is a potential SOS since the spring (#2) had good volume. A reaction with decreased spread and lower volume to forming a good LPS would confirm the potential SOS. Should the reaction fall through the half way point before volume and spread diminish, the appropriate action would offer a good test of the #2 spring. The first is the prefered action but the second would be acceptable. There are larger counts resulting from more aggressive LPS's from last year. The current trading range offers three phase counts. The combination of the first two offers a target of $49 that offers the possibility of a jump. A combination of all three phases, targets the $57 area which confirms one of the aggressive counts from the LPS at $18 of last year. There is a potential stepping stone count across the $40 that offers higher targets and confirms a count of a much larger potential accumulation area that occurred from '02 to '03.