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Within a day made a wise move and it peters out (4,4)

Ross

I believe the answer is:

dies away

I'm a little stuck... Click here to teach me more about this clue!

'move and it peters out' is the definition.
I can't tell whether this defines the answer.

'within a day made a wise' is the wordplay.
'within' means one lot of letters goes inside another.
'made' is an anagram indicator.
'a'+'wise'='awise'
'awise' with letters rearranged gives 'iesaw'.
'day' going around 'iesaw' is 'DIES AWAY'.

Can you help me to learn more?

(Another definition for dies away that I've seen is " disappears".)

I've seen this clue in the Evening Standard.
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