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Making an Industrial Profit

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  • Description

    FBN's Charles Payne on investing in Lufkin Industries.

  • Duration 2:21
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Yeah.

Yeah.

RA and -- time can make some money -- Charles -- that's our he had a Texan oil and gas services stock pick.

We -- isn't Texas as profits here are I hope we will be you know does I don't try to tailored to buy candid with you guys what's going on I could find anything yeah.

-- trend that's good though.

And you know but money is sexy to -- at at this -- up pretty nice today Lufkin Industries all of all of full of equipment though also power transmission.

And the problem with the stock has been sloppy execution.

The last year they -- a couple of quarters in a row they've really -- ever beat the street so when they do -- -- it's a little bit of a pump but that's also why it's so that's it it's a cheap stock.

I mean almost every stock out there that I like is at a 52 week highs some at all time highs so that's one isn't pretty and a seventeen.

Last year they had a record bookings backlog everything else ironically -- Monday dawn minerals downgraded the stock with a -- -- -- And that always worries because that's more per but still I love the way that things they broke out today close above 62 is a major break -- -- and -- reverse head and shoulders I noticed your favorite chart formation fifth.

If it has you know is you know her so well well -- -- awards -- -- turns me on Charles that.

I do nothing there are heads yeah you got -- forget it you know give bond does that correlate it.

It's not going to be enough.

-- -- -- -- request yes yes.

You mentioned eSATA downgrading it didn't deter you you judge is it by firm or analyst I mean you look at those charts all of -- are those reports all the time and I think the time I.

OK I had this I have very little respect for Wall Street research because I think they run scared to be quite -- with -- then.

And I'm not sure why this downgrade but more often than not I see these guys upgrading stocks that are already up downgrading stocks already down.

And I to have to wait -- -- play -- it's bad it's really its revenue was -- -- I would have my business but it really is bad guys and the one to watch out -- when the Sox made a big move and then they downgraded it on price.

Like you know that guys that's just an -- only way out you know that -- -- company don't be afraid the one with the but I think they -- booked a gain.

So they do want some kind of content that is terrific useful info from China -- elements -- -- -- Reverse themselves.

That and and -- -- can't get my second market.

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