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

To: coferspeculator who wrote (187)	8/3/2004 7:58:50 AM
From: coferspeculator	Respond to of 14340

Watch List Stocks-Activity for August 2 This is one of several stocks mentioned in Todays Watch List WFMI-On 7/29 WFMI broke through the demand line that has existed since July '03. This occurred after WFMI entered an ending action near the $98 target. The #1 spring broke through a minor ice area and penetrated a more important major ice area in the $80 area on very high volume (the highest in over a year) but finished just above this important area on the same day. The two following days have seen high volume with small spreads, with yesterday's price closing in the bottom half of the spread, ending the day near the edge of the ice. WFMI is at the ice level and the actions in the coming days are important. There is a count from the LPSY across to the PSY offering a target of $75 from the LSPY. There will be an even larger count to $70 if Friday's action is a new LPSY. That count could be higher if WFMI were to rally up to a higher level on decreased volume and continued small spreads. Should the current ice level be penetrated with continued strong supply these lower targets are very likely to be attained. If volume off the bottom appears than a higher LPSY possibility would be suggested and waiting to see what the character of the action indicates will be needed.