FLT INSTRUCTOR MONITORING STUDENT'S FIRST SOLO AT PWT OBSERVED A HOMEBUILT SMA CUT INTO THE PATTERN AHEAD OF THE STUDENT ON SHORT FINAL. STUDENT PERFORMS ADMIRABLY AND AVOIDS BOTH THE INCIPIENT NMAC INCIDENT AND KEEPS THE INTRUDER IN SIGHT AND AVOIDS IT AS IT MAKES A TOUCH-AND-GO BENEATH THE STUDENT'S ACFT.

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WITH A NEW CFI TICKET IN HAND; I PICKED UP SEVERAL STUDENTS FOR HIGH PERFORMANCE AND COMPLEX CHKOUTS; AND BFR'S. 2 MONTHS AGO; I GOT MY FIRST PRIMARY STUDENT TO TAKE FROM THE FIRST HR TO PVT. MY STUDENT WORKED HARD AND WAS READY TO SOLO. INSTEAD OF THE HIGH TFC VOLUME OF BFI; WE FLEW OVER TO PWT (AN UNCTLED ARPT) WHERE THE TFC IS LIGHT. WITH 1 HR OR MORE GOOD LIGHT LEFT; THE PAPERWORK WAS COMPLETED AND I WAS SURE SHE WAS READY. I STEPPED OUT ON THE APRON; SMILED AND TOLD HER TO PICK ME UP WHEN SHE WAS FINISHED WITH A CIRCUIT OF THE ARPT. OFF WE WENT; RIGHT ON THE CTRLINE; AND JOINED THE PATTERN AT A SAFE INTERVAL ON DOWNWIND. MY SOLO STUDENT WAS ON FINAL; WITHIN 1/3 MI OF THE END OF THE RWY; WHEN A SMALL BLUE OBJECT CAUGHT MY ATTN. IT WAS A VERY TINY HOMEBUILT; DARK BLUE; NO ROTATING BEACON; STROBE; OR ANYTHING -- WINGING IN OVER THE TREES ON A MODIFIED R BASE FOR THE RWY. HE BRISKLY TURNED TO FINAL IN FRONT OF MY SOLO STUDENT AND PROCEEDED TO LAND! I STARTED RUNNING TOWARDS THE RWY; WAVING MY JACKET IN THE AIR. IT WAS OVCST; LATE AFTERNOON AND THE HOMEBUILT WAS SO SMALL AND DARK. YET; AT THE LAST MOMENT; MAYBE 15 FT FROM TOUCHDOWN; AND 300 FT FROM THE HOMEBUILT; SHE SAW THE PLANE; WENT TO MAX PWR AND DID A BEAUTIFUL; BY THE BOOK; THANK YOU; GO AROUND. THE HOMEBUILT THEN DECIDED TO TAKE OFF; FOLLOWED BY A R TURN AT LOW ALT ALMOST IMMEDIATELY! MY SOLO STUDENT SMARTLY SIDESTEPPED TO THE UPWIND AWAY FROM THAT OTHER BOZO; REJOINED THE DOWNWIND AND CAME BACK TO MAKE A GREAT LNDG. MR HOMEBUILT DISAPPEARED OVER THE TREES HEADING OUT OF THE AREA. LATER; I FOUND THAT THE HOMEBUILT NEVER AFFORDED ITSELF OF THE PWT CTAF. THIS WAS CONFIRMED BY ONE OF THE OTHER PLTS THAT WERE DOING PATTERN WORK AT THE SAME TIME. MORE IMPORTANTLY; WITHOUT A HANDHELD RADIO TUNED TO THE CTAF; I COULD NOT COMMUNICATE WITH MY STUDENT. I COULD ONLY STAND ON THE TARMAC AND WATCH A NIGHTMARE OCCUR. MY KNEES ARE STILL WEAK FROM THINKING ABOUT WHAT HAPPENED AND WHAT COULD HAVE HAPPENED. THANK HEAVEN FOR A MOXIE LITTLE GAL THAT LEARNED SO WELL. 2 DAYS LATER; I ORDERED A HANDHELD NAV/COM TO BE PART OF MY CFI FLT KIT. WHY DIDN'T THE INSTRUCTOR THAT WORKED WITH ME ON MY CFI TELL ME HOW IMPORTANT IT WAS TO HAVE ONE?