Update on the Infrastructure Group and Oil Services

Some of the key names in the infrastructure group have stalled here in the past few days - the McDermotts (MDR), the Foster Wheelers (FWLT), the Jacob Engineerings (JEC), the Fluors (FLR), etc. After some massive gains, I am curious to see if the stocks will simply stay at even keel while they digest their huge moves up, or actually come back down some (I am hoping for the latter).

On the flipside, even with crude dropping the key service names I favor are refusing to really pull back even though other sectors in energy are dropping the past 2 days. I was hoping for some pullback so I could add to these names, but apparently I am not the only one in the world who really likes these names. Maybe people are finally getting it, that whether crude is $60 or $80 these companies are printing presses of cash. These names include Core Laboratories (CLB), FMC Technologies (FTI), National Oilwell Varco (NOV), etc.

Long McDermott, Foster Wheeler, Jacob Engineering, Core Laboratories, FMC Technologies, National Oilwell Varco in fund; no personal positions