Wyckoff trading method, page-634

Some stocks recently mentioned on this thread-

Contrary to popular belief, SXY continues to absorb its way through the potential resistance between 24 and 25cps,
and appears as though it may eventually be successful.




CXO continues to have some difficulties breaking through the potentially important 3.7cps level.
It repeatedly puts up bars which look weak and vulnerable, but price does not respond and breakdown, or confirm the possible weakness.
This is often another form of the absorption process, and the trading action may just reflect the individual personality of this stock (which in itself is probably a reflection of the trading patterns of the professional traders involved in the stock).
Just be aware that should price continually fail to absorb its way through the supply coming in at 3.7cps and higher, it may need (or want) to shakeout or pull back, it an attempt to remove this stock which is thwarting progress.



And finally CLH, which is still a 'watch' so far, but continues to be interesting.
A case could be made to buy near the lows with a reasonable stop, for a fairly low risk accumulation trade, if you thought the F/A stacked up well enough.
But I don't know about that, so i'll just watch for a bit longer yet.......and see how things develop.......


cheers