Midway Games

MWY

Company. Midway is "a leading developer and publisher of interactive entertainment software." (company website)

MWY stock chart

Buy. Near the end of May, Midway began climbing again after four consecutive down-days, bringing it above the peak at the end of April. I bought when the trend strength (ADX line) broke the threshhold of 20. Money was flowing into the stock (CMF).

profit Bottom line
+8%

Sell. Yesterday, Midway made another new high, but ended up closing lower than the day before. My screening software flagged that as a possible indication of a reversal. MWY opened down even more today, moved even lower, then recovered. When I saw toward the end of the session that the volume for the day was very light, combined with the declining buying pressure (green +DI line), I decided to sell.

bird in the hand

The profits are respectable, and bird-in-the-hand thinking won out over greed.