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

To: coferspeculator who wrote (185)	7/28/2004 7:26:07 AM
From: coferspeculator	Read Replies (1) \| Respond to of 14340

Watch List Stocks-Activity for July 27 Today's list will highlight three stocks that could be poised for an upside move should the trading range scenario play out. A list follows of recently mentioned bullish issues with some brief updates. All of these can be monitored and should offer good entry points should there be an effort to trend back up to the highs of the range in the coming weeks. TXT-TXT had an ending action at the targeted area of $58 and entered a trading range that has lasted for nearly 26 weeks. This trading range has produced a number of positive actions (see chart) and is now attempting to jump a major creek that has been in place for the entire range. The back up from the SOS that occurred in mid-June was ideal and negated the possible upthrust scenario. There is a two phase count in place. We are currently in the vicinity of the first phase count as the jump in being attempted. This suggests that a back up to the creek is likely. The entire phase count suggests targets in the $68-$70 area. There is a second count that can be used should the jump be successful. That suggests targets in the $75-$82 range, with the first being the more conservative and the second from the apex that was formed and broken out of to the upside during the past week. Ideally, a position could have been taken when TXT broke to the upside of the recent apex. The market, however, suggested caution at the time. A position could be considered at the back up that is expected as long as the character of the action suggests doing so. This would offer a good opportunity if the market indicates a move back towards the top of the trading range. This is also true for all of the following issues.