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Wednesday, September 21, 2005

SWIR - 092105

1.) What did I see?
This is the kind of play I would like to have every day. A gap up and strong first bar. The second and third bars are narrow range, with rising bottoms (forming a wedge).
2.) What is the entry?
A break of the third bar high.
3.) What is the exit?
1/2 closed after $1 gain, the other 1/2 held and closed at the end of the day.

Notes - notice the previous days action, and how SWIR was in a strong uptrend. That move fuels the fire for today's continuation.

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