The weekly chart for PII
looks strong with good price action backed up by heavy volume
. Before I enter long I want to see a strong breakout where price closes at or very near the highs on higher than average volume
on the daily chart
. My stop will be just below that days low and entry 10 cents above the high. I also want to see the S&P
follow through to the upside. Without the market moving in the same direction the risk of getting wiggled out is too high.