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.