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An Oil Spill Play

Posted by StockBuz on June 25, 2010 at 7:20pm
The small cap dredger, GLDD has been contracted to build sand berms along the Louisiana coast due to the BP oil spill and Morgan Joseph believes the co will earn $100-360 million in revenue from the work with significantly more *if* the berms hold the black gold. The huge buying volume [5x normal] caught my eye on todays breakout. I feel clearly this level will be defended and you will note that the Bollinger Band is expanding to the topside. I love BB expansions. Possible target from the triangle is $8 however resistance areas are marked. The top one being a new 52 week high.

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Tags: bp, crude, oil, spill, gldd, kos, chart, archive
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