Be Happy With These Profits
On Monday I dished on materials name II-VI (IIVI), saying I was tempted to buy the shares given an improving domestic manufacturing economy despite a neutral reward-to-risk profile. From a technical perspective, I mentioned the shares were overbought and that I would look to revisit the stock at a more deflated level.
Working through IIVI got me casting about for other companies that have better reward-to-risk prospects and are also benefitting from the improving manufacturing environment. But, as I cull through companies such as Cummins (CMI), Caterpillar (CAT), DuPont (DD) and Dover (DOV), I see each has had a solid move over the last several trading sessions, and all of them are either in overbought territory or encroaching upon it. That's the case even if I cast a wider net, looking at such names as Parker-Hannifin (PH), Ingersoll-Rand (IR), Fastenal (FAST) and Pall (PLL). Hmmm....328 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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