The Fast and the Fluorious: HFT Drift

Even with crude oil and many energy-related stocks getting pounded today, industrials continue to benefit from some signs of drifting rotation attempts. We know General Electric has come alive in recent weeks, strong again today. 

Another thesis we have been noting for Members has been the potential reemergence of badly beaten-down names, such as Fluor. Back in 2007/2008, FLR enjoyed every bit of the commodity/inflation spike which ultimately proved to be a head-fake before it crashed with everything else later that year. 

Since then, FLR has been very quiet. And recently it has been in a two-year downtrend. 

But on the second daily chart, below, note the bottoming pattern and potential secondary entry point for another counter-trend rally, as long as $47 holds below. FAST is also in the same category, on the first daily chart. 

If these rotations keep up, we have other ideas in play which will be fleshed out in the full-length video recaps.