Thursday, September 06, 2007

Stock of the Day

The market reversed its early losses, and appears to be firming heading into the closing hour. Although it probably wouldnt' take too large of a sell program to knock it back down.

Among some of the notable stocks I would highligh that have shaken off early declines include GS and AAPL. Both have reversed higher, which is a good sign. AAPL is a bellweather for tech, and GS is the most important broker stock, imo.

Also, the stock I highlight in the chart above is Foster Wheeler (FWLT). This stock has fully recovered from its August swoon, and is now right back near its former highs.

I think the stock could consolidate around these levels for a bit, and might test support at its 50-day again if the market weakens, but it should soon break back to new highs as the fundamentals for this engineering and construction company remain solid.



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