Wednesday, October 01, 2008

Spent piston at SPX

SPX Corp. (NYSE:SPW) is not officially at the end of its Stock Trends Bullish run, but it's days are numbered: two more. SPW has the current distinction of holding on the longest to its Stock Trends Bullish designation - a full 193 weeks - but the psi has really fizzled on the stock of a company formerly known as Piston Ring Co. SPW had dropped 37% in the last quarter - and that was before the $10 drop in the stock so far this week. The Bearish Crossover is baked in here. Hopefully, investors will have pulled out already. The Stock Trends Weak Bullish indicator flagged SPW at the $120 level at the end of July. SPW closed today at $71.88.
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