Construction Industry Sector: Oversold, but Worth Watching, Maybe Even Shorting

Includes: FLR, JEC, KBR, SHAW
by: Jeff Pierce

Shaw Group Inc (SGR) reported earnings that put a damper on the entire heavy construction industry group (click on chart to enlarge). While it’s a little oversold at the moment, this is a sector to watch for a weak bounce and then get short, provided the markets in general remain weak. Others worth watching in this sector are Fluor (NYSE:FLR) KBR and Jacobs Engineering (NYSE:JEC).