Finally signs of life in the infrastructure group: Foster Wheeler (FWLT), McDermott (MDR), Perini (PCR)

Finally some signs of life in this trashed group. I am taking the opportunity to lighten up a bit in my 3 main names in this group, with hopes to buy back lower.

Both MDR and PCR are approaching some resistance levels here as the hit their 50 day moving average. FWLT broke through its resistance today, and has had a great 2 day run. I like all 3 companies but want to continue to raise some cash on rallies and try to by back lower. So I am going to take some off the table in all 3 names.

If I am wrong, and the next phase of the bull market to 14,000 is upon us I have no problem buying back these names at higher prices as all 3 appear to be undervalued in my book.

Long MDR