Despite today’s monster melt up [[FWLT]] [[FLR]] [[MDR]] are trading down while [[ABB]] [[JEC]] [[EME]] [[CX]] and [[SI]] are doing mostly nothing….
You may be correct in time machine telling these companies futures. I just find it strange that there is no activity here.
Perhaps they are being “nekkid” shorted because somebody wants them.
[[TEX]] and [[VMC]] are doing alright.Good call FLY!
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Seems that profit taking, global slowdown (?) and poor earnings via CBI are at work there while the outfits they use for their projects (TEX, VMC, MLM, MTW) seem to be coming off a bottom …. Odd, no?
Short the Engineers and long their Suppliers … do we have etf’s covering these industries?
its not really a mystery
with the impending global slowdown, who wants to own a construction company?
add to that, all their input costs (basic materials) have been screaming the fuck up for a year now, and a lot of these construction jobs are fixed bid (i.e. the job was bid when steel was 1/3 of the price it is today)
…course, CBI screwing the pooch didnt help things either….
Yeah CBI got punished like a naughty schoolboy, the drop seems a bit excessive, doesn’t it?
Back in March CBI fell to 35 and rallied back to 49 (I sold it there) but missed the last drop to 37 in May … seems like it always rallies back but it may be broken here for some time …. good buy for a LT hold in the IRA though … that’s what I was contemplating earlier.
BTW: The drop in CBI is indicative of what well may happen to stocks that disappoint or warn of future shortfalls this quarter … pay attention to earnings dates and prepare accordingly.
E8, I agree it’s great for the long term, I like the company very much. Short term it’s getting punished. But it’s always been volatile.
True dat!
Despite slowdown, high input costs, etc. I still feel in my gut that there is room to grow as this is a once in a lifetime multi geographical super cycle rather than a single country or region experiencing good growth…..well that was a mouthfull!