Wyckoff Buying Tests: Nine Classic Tests for Accumulation
Nine Buying Tests (applied to an average or a stock after a decline)*
Indication: Determined From:
1) Downside price objective accomplished Figure Chart
2) Preliminary support, selling climax, secondary test Vertical and Figure
3) Activity bullish (volume increases on rallies and
decreases on reactions) Vertical
4) Downward stride broken (i.e., supply line penetrated) Vertical or Figure
5) Higher supports (daily low) Vertical or Figure
6) Higher tops (daily high prices rising) Vertical or Figure
7) Stock stronger than the market (i.e., stock more
responsive on rallies and more resistant to
reactions than the market index) Vertical Chart
8) Base forming (horizontal price line) Figure Chart
9) Estimated upside profit potential is at least three times Figure Chart for
the loss if protective stop is hit Profit Objective..
Have a definite, tangible plan of operation.
Stick to that plan--a locomotive off the track is
useless.
A close study of Wall Street securities, methods and conditions
will pay any man capable of using horse-sense in his ventures.
Panics are rare opportunities for people with money.
Buying when smart money buys and selling when they sell is a sure road to
wealth.
When your stock is in your own safe deposit box you can more patiently
wait for a large profit.
It doesn't matter how small you start, so long as you start right.
Bull markets follow panics as regularly as the sun rises and sets.
When you buy with the smart money they do all the marking up for you. If
they make money you must.
The big swings of the market cast their shadows before.
The individual, the nation, and the whole world, are frequently short
of ready money.
( Weaker Hands Will always cause overbought and oversold because they do not how to judge risk reward and are nearly 100% wrong in their use of leverage... Hence Why the Individual,Nation and Whole World run out of time options and money )
If you cannot gauge the buying point closely, put in a scale order.
A panic is a nauseated stock market, and brings its own cure.
Smarter money swings such big blocks that they are obliged to show their hand.
It only takes a few panics to do the trick.
Richard D Wyckoff
Specialist in Panics 1907
Now that 50% retracement levels support got completely ignored
Do We still have a degree of passive sponsorship ? If So We saw demand ....Still no sign of demand though
The sell down has been on lower volume than the move up so that is a good sign the weak hands are exiting
But it moved the price just the same because nobody was on the other side to soak it up. Where did they go?
Is this a cartel to try to keep me locked in this trade by not giving anyone a chance to sell? Because we all know why cartels don't work, unless it was all one party that was buying up the stock a few weeks ago.
There is a lot of TA on this stock, but I'm just wondering on fundamentals should I hold this dog in my portfolio in case it starts making money?
The benefits of the Company’s product diversification strategy is becoming increasingly
evident in the past few weeks with Video Lottery Terminals (“VLT”), Welfare lotto and
Sports Lottery games becoming important contributors to the total weekly sales
performance. Since we last reported to the ASX on 10 October 2007 for the week ended 7
October 2007, total weekly sales have increased by 28.3% over these 7 weeks. The
strongest growth was achieved by the traditional Welfare lotto game which increased by
65.9 % and VLT sales by 17.7%. Sports Lottery sales which only began in the week ended
21 October are already accounting for 8.4% of total weekly sales.Importantly, total traditional Welfare lotto sales exceeded total Keno sales for the first time
despite the fact that this game is distributed in less than 70% of all POS outlets. Sports
Lottery games, on sale for only 6 weeks, already accounted for over 8% of total weekly
sales with distribution from just over 30% of all POS. The 3 upmarket VLT sales outlets
accounted for close to 10% of total weekly sales.
who know more about it than the observer cannot conceal their future intentions regarding it. Their plans will be revealed in time by the stock's subsequent action.
first they scare you out, then they bore you out, and then if they can they scare you out , again
....)They first have to buy or sell
Motorway, I am seeing the same thing here. Support is definitely strong but I suspect it may all be manipulation by one party. If there was more demand, we would have seen some support (like you say at 50%) during the retracement from $1.90, but there wasn't.
Instead the price was being marked down on very low volume until a final dump down to 85c to trigger some stop losses. So somebody does not want the price to go up just yet and accumulating between $1 and $1.10.
A more extensive trading range can have any number of secondary tests ( more on that later ).
Whenever you study the tape or a chart, consider what you see there
as an expression of the forces that lift and depress prices. Study
your charts not with an eye to comparing the shapes of the
formations, but from the viewpoint of the behavior of the stock; the
motives of those who are dominant in it; and the successes and
failures of the buyers and sellers as they struggle for mastery on
every move.
A chart indication means that a stock is probably going so far in a
certain direction only so long as its behavior continues to conform
with the original indication. You must always be on the alert for
changes and be expecting your chart indications to be reversed.
"The study of responses ... is an almost unerring guide to the technical position of the market."
- Rollo Tape (Richard Wyckoff), 1908
more from the other sidehare's breath
mid pattern rally
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