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FWLT for a break out set-up

Published on May 30, 2007

FWLT for a break out set-up

May 30, 2007

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.

fwlt-break-out-may-30.pngI 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.

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Profitable trading, OptionPundit

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