If conditions were to set up right, I promissed saffeysite1 to buy SWB (//http://). Today I'll keep the promise and buy at the open.
Smith & Wesson Holding Corporation (SWB). The Group's principal activities are to manufacture and distribute handguns, which includes revolvers and pistols.
Saffeysite said people like their guns. I don't know about that, but the chart tells me to believe. So, I'm a believer. Look at this:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=154;image)
A new all time high for SWB. Volume is not very high, but that doesn't mean the stock won't continue hedging higher, in this silent mode. I think it will.
I said that if SWB closed above $3.13 I could buy and sleep well, because there's a big support, a floor for the stock just beneath my entry price.
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... in SWB. It is true people like their guns, as saffeysite said, but this is not a momentum play and it is overextended now. I believe there are faster horses outthere, I'm expecting to lock in a 20% profit with SWB in today's session.
I've seen this last chart of your's and I have a technical doubt... ???
The volume is still high... so, what are the parameters you've used to close the trade?
Well the volume is still high but I see that it has been decreasing in the last sessions... is that it?
Thanks in advance... see ya David! ;)
... price went up while volume was decreasing. That's a technical bearish divergence. Time to sell for the short term (but maybe not at the open, I'll have to see about that).
...now I understand how you used the information! :)
OH... Don't get me wrong... I don't want to change your selling plan... I was just trying to understand the mechanism you used... ;D
Thanks a million man!! :)
SWB
Anyone else still holding SWB? I love this chart=O'Neil winner.