FLUOR Upgrade! W00t W00t W00t!

This morning I was pleasantly surprised to read that Fluor was upgraded by an analyst at JP Morgan after yesterday’s announcement that Fluor will be awarded part of a multibillion dollar U.S. Army Contract. Read the story here:

http://www.forbes.com/feeds/ap/2007/06/29/ap3871215.html

Catching this upgrade is like winning the swing trading lottery. It adds instant profits and allows me to lock in those profits by raising my protective stop order. The stock jumped up to $108 in pre-market trading, and is now up to $108.86 (the market opened about 10 minutes ago).

Whoa! In the last few minutes the stock has reached $110.72. It has broken through resistance and is now above my price target of $109.90! If I sold now at $110.72, that would be a profit of +$363.50, or +7% - not bad for 2 days! But I think FLR could see some more upside within the next few days, so I’m going to hang on for the ride. I’ll place a stop-limit order to lock in a profit in case FLR starts to drop.

I’ll put the stop 2% lower than FLR’s current price, at $108.45. I’ll put the limit 10 cents below, at $108.35.