Wait For It

Posted by StockBuz on July 16, 2011 at 4:51pm

Stanley Black & Decker [SWK] has coiled up into a triangle which could go either way when they report earnings on Monday. It's sitting at long trendline support so a break below you'd get short looking for a $9-10 move. However, they *do* have a history of beating on their estimates and have solid projections for 2012 so the market could respond to a beat by taking it up to or breaking overhead resistance. If that's the case, jump in and ride it higher. My personal bet is on a beat to go higher; after all, they pay a dividend too

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StockBuz July 27, 2011 at 9:21pm

Got short SWK today @67.38 after it broke bearishly through trendline support with higher volume. The market could very possibly *pop* once the debt ceiling is approved [albeit short term in my mind] but I will not take chances. Will take a partial @ 4% and move my cover stop to the 13wk SMA 71.02. I fully expect it to come back and fight the 200d so will take additional profits every $2 or so along the way; but my longer term target is $58-60

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