Oil Stock That Is Not Really An Oil Stock
The only company I am adding to the watch list is FMC Technologies. They build undersea pipelines and oil field related equipment and services. Read the description below and I thin you will like them. They did decline with the rest of the sector but that was after a +$12 spike the week before on those good earnings. I profiled a call and a put right from the beginning given the volatility in the market.
Current Watch List
FTI - $62.77 - FMC Technologies
FMC Technologies, Inc. provides mission-critical solutions for the energy, food processing and air transportation industries. The Company designs, manufactures and services machinery and systems for its customers through four business segments: Energy Production Systems, Energy Processing Systems, FoodTech and Airport Systems. Energy Production Systems segment designs and manufactures systems, and provides services used by oil and gas companies involved in land and offshore, including deepwater, exploration and production of crude oil and gas. Energy Processing Systems segment designs, manufactures and supplies high-pressure valves and fittings for oilfield service customers. FoodTech segment designs, manufactures and services food processing and handling systems to the food industry. Airport Systems segment is a global supplier of passenger boarding bridges, cargo loaders, and other ground support products and services.
update on May 9th
Breakout trigger $63.50
Breakdown trigger $60.00