Global Industries (GLBL)

Company

Global Industries is "a leader in offshore construction in the Gulf of Mexico and around the world. Global has prospered by supplying diving and pipelaying services vital in producing offshore oil and gas." (company website)

Buy

11-Feb-05. Global broke through the $8.50 level with two days of higher than normal volume. The trend was strengthening (ADX). Money was flowing (CMF) into the stock.

Sell

28-Feb-05. I began to get nervous about GLBL after watching it stretch out the upper Bollinger band for over a week. Expecting that it would have to consolidate sooner or later, I put in a stop-loss order that I kept ratcheting up after each day's price rise. Basically I set the stop at the previous day's open so the stock would sell if an entire day's advance was wiped out.

Today GLBL opened at Friday's close, traded briefly higher but then swung widely lower before recovering somewhat to close. At $10, GLBL has doubled its price from six months earlier (see sidebar). Some consolidation of those gains is likely.