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Friday, December 7, 2012

SWHC

SWHC has had a very tough resistance level since early September, which it looked like it was going to break through today after gapping up on earnings this morning. However, it quickly reversed (probably something said during the conference call) ans sold off heavily on high volume. This is a pretty good illustration of what happens when you try to anticipate a breakout (a lesson I have learned the hard way more than once), as this ran right up to resistance and could not get through it. This had a terribel chart coming into today: CMF has spent most of the last 6 months in negative territory, and price relative has been going sideways, but this has been anticipated to be a leading stock, that is, until today.

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