March 16, 2009

CONSIDER TAKING PROFIT IN FWLT (FOSTER WHEELER)

Consider start taking profits in FWLT here at $17.75 in after hour market since there is a nice profit the same day.

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CONSIDER SHORTING FWLT (FOSTER WHEELER)

On the heels of cancellation of the $14 Billion refinery project in Kuwait, it is likely that more Mideast projects will be cancelled. Effect of such cancellations does not seem to be factored in the price of FWLT. Consider lightly scaling in a short position right here at $18.75. Add to the position if the stock spikes up.

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