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Wabtec (WAB) - 07-22-2008
Wabtec "provides technology-based equipment and services for the rail industry." We all know that guys like Warren Buffett and Peter Lynch love unsexy businesses, and this company fits the bill. Of course you’ll be lucky to make any money if all you do is buy up companies in boring industries, but this one fits some of the other criteria too. WAB had a huge day today after having another good earnings call, shooting an already overbought stock even higher.
The big thing to note is the performance of the stock compared to the rest of the market. The first word that comes to mind is "domination." I typically find it easier to screen for stocks and build watch lists in down markets, since you don’t have to scan through as many rising stocks. Down markets also tend to bring even stronger corrections, so while this one is currently overextended, it’s a good one to at least put on the radar.
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