FWLT for a break out set-up

There are clear benefits of being in a good sector, that even though the broad market is lower, good sectors perform well. I had highlighted FWLT earlier. Also when it was about to break-out above $103 today, I sent an alert to registered OP users.

I had originally scanned FWLT for an income trade for the OPNewsletter but it turns out to be gaining too quickly which was not good for this perticular income strategy so converted it into a breakout play instead. However, it has pulled back over$1.5 since the intra-day high so far.

Discuss here

Profitable trading, OptionPundit