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Fitz Bits: Construction Stocks Sit on a Shaky Foundation

By Dan Fitzpatrick

 About this article:
 After receiving several emails about various stocks in the heavy construction group, I've decided to feature five of them in today's column. Foster Wheeler McDermott Joy Global Bucyrus Shaw Group Each day, I'm featuring several reader requests for the current technical take on a stock. I can't assure you that I'll get to yours, but I will certainly make every attempt to do so, as long as the stock meets the following criteria. 1. The average daily trading volume needs to exceed 250,000 shares. If a stock trades too thinly, chart analysis doesn't help much, because there just are not that many traders involved. One big buy or sell order can move the stock in ways that chart analysis just cannot predict. So let's stay above 250,000 daily shares. 2. The stock really needs to be trading above $5. Sub-$5 stocks don't get the same treatment by institutions and portfolio managers. Also, many...

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