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

To: Joe Highlander who wrote (13689)	4/9/2015 12:47:34 PM
From: coferspeculator	Respond to of 14340

Hi Joe, IMO it seems like Roy is talking about specific situation with specific types of companies . . this one a potential blockbuster candidate . . huge market with no alternatives . . important institutional support . . . a choice that has done well in the past when it returned to support. . and I'm thinking he's looking at it as a repurchase, doing so in a choice that has already proven very profitable . . his idea make a lot of sense IMO . . it's an old Wyckoff idea . . it worked for Wyckoff because his focus was only on a few stocks . . at the time he traded, he limited his buys to a group of six to eight leaders . . he knew what a leader looked like . . he was what we'd call today an analyst . . didn't make a trade for over ten years while he studied companies . . when he began trading he concentrated on only the ones he thought were the leaders at the time . . . years later folks tried to take the idea and use it with a lot of stocks . . that doesn't work very well much of the time . . your points have a lot of merit when applied to the majority of stocks . . not any different than what happens if applying the idea of buying at support in most stocks . . it's often just a toss up . . will his idea work all the time . . no but if it puts up gains at least three times greater than the risk, if he's right half the time I'd think he'll do quite well . . my thoughts for what they are worth . .

To: Joe Highlander who wrote (13689)	4/9/2015 5:03:18 PM
From: Tokendude	Respond to of 14340

Hi Joe: I wouldn't recommend my approach to this particular purchase as an investment selection methodology in isolation. The timing was such that I had available funds. Regarding comment #1 below, Absolutely not! New positions should always be first and foremost at or near the LP. The trigger BTT recommends is a bullish bar IF you are needing a technical signal as this will potentially be a safer entry point, but risks missing the LP if you are not careful. In all honesty, I doubt the upside on this #1 stock is all that great, but then again I have a price target and as I approach it will be tightening up stops. Then if it runs higher, so much the better, but if not I made a pretty safe trade given the 4 to 1 risk/reward ratio, which would be a 35% to 40% gain if it reaches that target. As for comment #2, I don't remember another "suggestion" they have made like this in recent months. If you refer back to 3/1/15, their comments about #D being range bound with a breakout potential are not the same as the comments for #1 which I took a position in. I think their comments on this stock were more for those holding and wondering if "D" has more upside potential. Their position as I read it is, yes if it breaks out with strong volume. Notice no comments about risk/reward or valuation. Similarly, in the 3/2 report #23 from the previous Sunday list was mentioned as being in a tight trading range around the PT since it reported earnings 3 weeks previous. Again, not a strong reason to take a new position, in my opinion. It is really just commentary about a stock for those holding. As for comment #3, go back and read the 3/8 report regarding #F. Read their two paragraphs closely regarding this stock. There will always be losses. Keeping them manageable is the only way to succeed, just as Mr. C commented in response yesterday. Again, proper entry is the key. Mr. C is correct that this was a re-entry position for me, but I haven't owned this one is a while. Regarding my entry into #1, go back and read the 3/12 comments for this stock, which were at the top of the report (a key to watch for, btw). Specifically the comments: "For investors continuing to favor the company and looking to repurchase shares, be patient and let the selling action play out. After it does, then look for signs of important buying (volume) at favorable valuation and support price levels" (my highlights). Also, although they said "repurchase", I think it is ok to make it a first position purchase, but just remember that your holding methodology will be different than for the NGI stocks, and I wouldn't necessarily be looking to add on additional shares if and when the stock rises. I hesitate to say it, but think of this as a "spot play" or trade. Just a very specific type of one. Regarding your comment #4, I think I have addressed it in the paragraph above as to why I made a purchase at the level I did. Investing is never an easy game and I don't mean to imply that it is. I was just calling to attention the fact that on rare occasions BTT will be a little more aggressive in their comments, at least in my eyes. For those struggling, really pay attention to those types of comments. Roy

To: Joe Highlander who wrote (13689)	4/9/2015 7:07:45 PM
From: Steve from CA	Read Replies (3) \| Respond to of 14340

Joe, I will flatly admit I'm having trouble with the BTT strategy. I was hoping for a little more guidance than we're given. Just a bunch of random e-mails I was sent when first signing up left alot of holes. One thing that puts me off is how they skim over stocks that are losers and shakeouts. Take Chinese "N" highlighted today. That stock probably shook out most people a few days before the earnings release and the day of the release the stock took another wild swing, yet they act like none of that happened. I'm also put off by our moderator's condescending attitude. I was put off by it over at the IBD forum as well. I'm glad he's doing so well and the rest of us struggling are just inexperienced or fast traders. I was hoping this site would be a kind of support group since we all have a common interest, but most of my posts have been ignored. I'm sure I'll get banned now.