Fluor Corporation, through its subsidiaries, provides engineering,
procurement, construction, maintenance, and project management services
worldwide. The Oil & Gas segment offers a range of design,
engineering, procurement, construction, and project management services
to upstream oil and gas production, downstream refining, offshore
production, pipeline, chemicals, and petrochemicals industries.
The Industrial & Infrastructure segment offers design,
engineering, procurement, and construction services to the
transportation, wind power, mining and metals, life sciences,
manufacturing, commercial and institutional, telecommunications,
microelectronics, and healthcare sectors.
The Government segment provides engineering, construction, logistics
support, contingency response and management, and operations services to
the United States government focusing on the Department of Energy, the
Department of Homeland Security, and the Department of Defense.
The Global Services segment offers operations and maintenance, small
capital project engineering and execution, site equipment and tool
services, industrial fleet services, plant turnaround services,
temporary staffing services, and supply chain solutions.
The Power segment provides engineering, procurement, construction,
program management, start-up and commissioning, operations and
maintenance, and technical services for the gas fueled, solid fuels,
environmental compliance, renewables, nuclear, and power services
markets.
To review Fluor's stock, please take a look at the 1-year chart of FLR (Fluor Corporation) below with my added notations:
For the last (3) months FLR has been consolidating within a common
price pattern known as a rectangle. Rectangle patterns form when a stock
gets stuck bouncing between a horizontal support and resistance. A
minimum of (2) successful tests of the support and (2) successful tests
of the resistance will give you the pattern. For FLR, the rectangle
pattern has formed a $67 resistance level (green) and a $60 support
level (blue) that had also previously been strong resistance.
The Tale of the Tape: FLR has formed a rectangle
pattern. The possible long positions on the stock would be either on a
pullback to $60 or on a breakout above $67. The short opportunity on FLR
would be on a break below $60.
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Somebody
out there is sure getting prepared for something really big. We have
just witnessed a takedown of gold and silver unlike anything that we
have witnessed in decades. On Monday, the price of gold had fallen by
more than 10 percent at one point. It shocked investors all over the
globe, and overall what we have just seen was the largest two day
decline in the price of gold in 30 years. The price of silver dropped
even more rapidly on Monday. It was down more than 14 percent at one
point. There was an atmosphere of “panic selling”
as investors and financial institutions raced to liquidate their
holdings of silver and gold. But was this exactly what someone out
there wanted? As I wrote about the other day,
big banks and news outlets all over the world have been boldly
proclaiming for weeks that gold is entering a “bear market” and that now
is the time for all of us to sell our gold. In particular, Goldman Sachs reportedly told their clients earlier this month that they “recommend initiating a short COMEX gold position“.
Was that just a “good guess” on their part, or was something else
going on? Were they actually trying to help create a “selling frenzy”
that would drive the price of gold much lower?
We touched base with Arch Crawford
today. While we made it through March without a crash, commodities seem
to be getting killed now. Gold is making new lows and the stock markets
are getting hit as well. Oil has broken its key resistance point. Arch
is concerned about chart formations for the rest of April and still
believes that May 20 will be a very signficant date. In any event, it
appears that something major is happening now and the market action is
just an indicator of more important underlying issues ahead.
Click Here to Listen to the Audio
On
the heels of extraordinary turbulence in the gold market, today
legendary Pierre Lassonde weighed in on the takedown in the gold market.
Lassonde also told King World News what to expect in the gold market
going forward. Lassonde is arguably the greatest company builder in the
history of the mining sector. He is past President of Newmont Mining,
past Chairman of the World Gold Council and current Chairman of Franco
Nevada. 
The COMEX will default in the next week or several weeks and people
will be “settled” with Dollars, no more metal will be delivered! 
