Wyckoff trading method, page-1863

Hold Fast,

I travel a fair bit and had the good fortune of going all over Tassie, which I found a wonderful place . Cradle Mountain is spectacular for sure.

There's wonderful scenery on both sides of the coast even though the West side is perhaps the best know.

We also flew on a twin Cessna to the Franklin-Gordon national park and landed somewhere in the water and I felt like Adam. Unfortunately Eva, the missus, was there also and made me get back on that little plane


On the East side, somewhere around Scottsdale there are wonderful farms and I tasted the nicest Jack Cheddar apart from the one from the US. My favorite cheese though is the Spanish Manchego. Pity that I don't drink these days, following a serious wine poisoning at the ripe old age of 16 . Sadly I cannot drink the Bacchus Gold even though I love the red that we made from our own grapes (back in the village).

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On a more down to Earth note, I'm attaching some charts of MYX - Mayne Pharma.

MYX - has been the subject of some pretty severe pull--backs, courtesy of 'controversial', or at least inaccurate, bad press.

Look deeper into these and you'll find there is little reason for alarm.

As you can see on the Weekly chart - there are 3 Significant events; all are quite noticeable as is the Big Volume for each one of them.

On the Daily chart - please not the 'ease of movement' following these pull-backs, indicating support for the stock;

Finally on the Monthly chart - there is a very Strong Line of Support around the $1- mark.

This last Significant event, and the way the Price closed, very close to the bottom of the range, leads me to believe that the price will travel a bit further.

I suspect that the price will test that Support zone very shortly, prior to consolidation and, hopefully, moving up.

The fundamentals are quite good and I have purchased the stock just recently. It is in a good sector too.

I mentioned this stock as I suspect it may be a good candidate to follow from a Wyckoff perspective, similar to the ones that Beany puts up.

Jako and the rest of the group, any thoughts will be warmly appreciated.

Cheers,

soccer