General Cable

BGC

Company. "General Cable is a leader in the development, design, manufacture, marketing and distribution of copper, aluminum and fiber optic wire and cable products for the communications, energy, industrial and specialty markets." (company website)

Buy. I've had my eye on General Cable since it broke out with big volumes about two weeks ago. When I saw that an earlier break past $11 had failed, I decided to wait until the previous peak had been passed. By then it was stretching out the upper Bollinger band, and I decided that it would eventually pull back, so I placed a limit order to buy at $12.00.

After three days of declines, BGC opened down slightly today, and I was able to buy for $12, which — so far — is the low of the day.

Sell. Since breaking $12.50, BGC seems to be losing steam. The flow of money into the stock (CMF) has declined sharply over the past few trading sessions, also reflected in declining buying pressure (green +DI line). I decided to sell if BGC traded at $12.50 or less. It did, I sold.

The BGC chart still looks strong for the longer term, but it is perhaps time for it to pull back closer to the moving averages.