Thursday, January 2, 2014

Thursday morning

MDR Daily Chart
Our own sweet southern has been yippin' (smile darlin') about McDermott for the last week and with good  reason.  It's doing the breakout thing on increasing volume and has not slowed down yet.  It would be a real good entry if the stock would come back and test the 200 day sma from above.  Buying the bounce would allow for a tight stop so you could take a fairly large bite.  If the stock just keeps going then you will either need to start small or just recognize one that got away.