The short term investing stock picks blog

Cameron International Corp (NYSE: CAM) is making a great technical move today.  If we review the P&F chart of the stock we see that today ushered in a Triple Top Breakout.  Reviewing the daily candlestick chart graphs, we see that Cameron sprang through the $50-$50.20 resistance on what may end up as 2X volume today after regaining its 50-day moving average on over 2X volume yesterday.  This may be a good technical swing using the former resistance of $50 as your stop.  This is a top CANSLIM pick which will reach an IBD buy point around $54 as it hits new highs some 10 weeks after beginning to pull back.  In this market take profits as soon as you can, but I like a run to $60 if it can clear the IBD buy point.  Scared its just running with oil?  CAM has outperformed its "Google peers" with the exception of FTI (which is up only on a $1 billion contact they just got) the past three days.

Cameron International Corporation provides flow equipment products, systems, and services to oil, gas, and process industries worldwide. The company’s Drilling and Production Systems segment provides systems and equipment to control pressures and direct flows of oil and gas wells.

This entry was posted on Thursday, January 3rd, 2008 at 2:45 pm and is filed under Uncategorized, Potpourri. You can subscribe via RSS 2.0 feed to this post's comments. Responses are currently closed, but you can trackback from your own site.