Tuesday, October 16, 2007

Flowserve finding its footing up high

Maybe it was unfortunate timing, but even before the subprime sludge slowed down the market in mid-August, Flowserve seemed to lag. Other stocks would bounce high on an up day, and FLS would sit quietly, barely advancing. Stocks would plummet on a down day, and FLS would slip right there with all of them.

At 78.07, Flowserve isn't so timid anymore. The stock is below its 10-day SMA (78.69).

Pupule says: Wait. If FLS stays below its SMA for another session or two, a small position might be worthwhile.

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