Foster Wheeler (FWLT) and McDermott (MDR) looking strong

Well it's been at least 4-5 days since I last plugged these 2 names: Foster Wheeler (FWLT) , McDermott (MDR). After the consternation of why MDR was not following in the footsteps of the global instrastructure rebound, it's rallied from the mid 70s to the mid 90s in 2 weeks (+27%), and the chart looks tremendous. I have lightened up a bit on the rally, but will be buying back some of the trading position on any sizeable pullback. Foster Wheeler (FWLT) I was a bit more nervous about the fundamentals so I lightened up a bit more early, but its chart is also a thing of beauty. FWLT has rallied from roughly $90 to $117 today in past few weeks. (+30%).

I am excluding the peak bottoms at $85 on FWLT and upper $60s for MDR since those were 1 day events; you could of bought FWLT at $90 any of 3 days during the correction, and MDR around $75-$76.

MDR is now down to the 4th largest position at >3% of fund. I won't be selling it down anymore short of a rally to the $120 area. In fact, I'd like to add more if it falls as I feel the fund does not have enough since I lightened up a bit. It's been the #1 holding most of the past 2 weeks.

FWLT same story applies. However it's all the way down to a 1.4% position in the fund, as I booked more gains in this name than MDR.

Fluor (FLR) seems to have stalled out since it has such a premium valuation in the group. And Perini (PCR) the other major holding I have in the fund in this group has stalled out below its 50 day moving average so I have lightened up each time its gotten to its 50 day and failed, rebuying lower, and repeating the process - while keeping a core 10K position in the name.

Again, this is another secular bull market. To miss it, despite all the other issues, is a poor choice. The next time the market tanks and you feel sick to your stomach these are the names you want to be buying.

Long MDR, FWLT, PCR in fund; no personal positions