Wednesday, October 17, 2007
Fuel Tech (FTEK) zooming on news
Recall the October 1 post where where my old favorite, FTEK was highlighted for a possible bottom feed breakout opportunity. Well, being a miserly bottom feeder I did not buy FTEK at that time as I had hoped for a no brainer in the high 18's. But it sure made a good chart study. The chart didn't care why it was sneaking out of the downtrend - that only became evident later: Take your pick: Barron's highlight, $7.2 million NOxOUT order to a mid-west utility. FTEK is up 14% today alone @ just under 33. Wall Street loves FTEK. But boy is it towing around a valuation to match.