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hiker

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Reply with quote  #1 
CBI - how many layers of support will it move through? Continued to make lower intraday lows in late week following the announcement of a delayed earnings release.

http://stockcharts.com/gallery/gv?cbi

from today -

http://biz.yahoo.com/bw/051031/315350.html?.v=1


from 10/27 -

Chicago Bridge delays release of Q3 results (CBI) 29.72 : Co announced that it will delay the release of its third quarter 2005 financial results and the related investor conference call and webcast. The Company's third quarter results were not finalized in time to meet the original schedule. The release and conference call will be rescheduled when that process is complete.

from 10/18 -

Chicago Bridge wins contract at refinery (CBI) 29.68 : Co wins a contract by a major US refiner to design and build an amine regeneration unit to assist in sulfur removal at one of the customer's refineries. The project is valued in excess of US$45 mln.

from 10/11 -

Chicago Bridge announces retirement of CFO (CBI) : Richard E. Goodrich, 61, has resigned as Executive Vice President and CFO of CB&I effective Oct. 8, 2005. He will remain with the Co as an employee in an active role, focusing on mergers, acquisitions and other growth opportunities, until his retirement in Feb 2006. Richard A. Byers, currently Vice President and Treasurer, has been appointed to serve as acting CFO.

from 10/6 -

Soleil initiates CBI, TK and TOT with Buys : Soleil initiates CBI ($37 tgt), TK ($53 tgt) and TOT ($160 tgt) with Buys. Firm says their analysis concludes that bridging the US natural gas supply-demand gap through increased imports of liquefied natural gas (LNG) is unlikely to result in a material easing of the current upward bias in natural gas prices, contrary to the current consensus. They believe opportunities exist all along the LNG supply chain given its positive global demand outlook.

from 9/13 -

CB&I (CBI) awarded a lump-sum turnkey contract to design and build storage tanks and pressure vessels for Al-Jubail, Saudi Arabia

from 8/30 -

CB&I (CBI) wins a lump-sum turnkey contract to design and build L.P.G. storage tanks for a natural gas processing expansion project in the United Arab Emirates, worth more than US$130 mln.


from 7/28 -

Chicago Bridge upgraded to Buy at Ragen MacKenzie (CBI) 26.61 : Ragen MacKenzie upgrades CBI to Buy from Hold following Q2 results. Firm raises their tgt to $32 from $26.50 and their FY06-07 ests. Firm believes that the co should continue to benefit by the cyclical pick-up in spending on refinery and L.N.G. infrastructure spending for at least the next 5 years, so they believe these new EPS ests continue to be conservative and do not reflect potential share buybacks they think could occur as expected free cash flow ramps up in 2H06.

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hiker

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Reply with quote  #2 
15:56 CBI Chicago Bridge upgraded to Buy at Ragen MacKenzie

15:56  CBI Chicago Bridge upgraded to Buy at Ragen MacKenzie (21.36 -0.94)

Ragen MacKenzie upgrades CBI to Buy from Hold with a $36 tgt, following this morning's details regarding the delayed release of 3Q05 earnings originally scheduled for last Thursday. They believe that the accounting controls at the co are working per their design as a differing opinion by one senior accountant is being taken seriously enough to precipitate internal investigation by the board. Management, however, is confident enough to state the maximum exposure to earnings from the review would be $0.09--$0.11 in 3Q05 (while actual exposure could be zero). Firm is reasonably confident that investors have overreacted to the news and the shares are currently undervalued


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hiker

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Reply with quote  #3 
Friday, 11/11 -

12:25 et - approaching the 24.20 high of 11/03

08:06 CBI Chicago Bridge Delays Filing of Third Quarter 2005 Report on Form 10-Q; New Business Taken, Backlog and Cash Position Improve Vs. Prior Year Period (22.39 )

Co announces it is not able to timely file its quarterly report on Form 10-Q for the third quarter of 2005, which was due Nov. 9, 2005. As previously announced on Oct. 31, 2005, CB&I received a memo from a senior member of its accounting department alleging accounting improprieties, including the determination of claim recognition on two projects and the assessment of costs to complete two projects. The Audit Committee of the Supervisory Board of CB&I, has initiated an inquiry and has retained outside legal and accounting advisors to assist in the inquiry. The Audit Committee is seeking to resolve the matter as soon as possible. At this time, CB&I is not able to predict the outcome of the inquiry. In addition, CB&I's independent registered public accountants have indicated that they will not be in a position to complete their interim review until completion of the investigation.



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hiker

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Reply with quote  #4 
08:00         CBI Chicago Bridge wins award for LNG terminal in China (25.86 )

        Co has been awarded a lump-sum turnkey contract valued at approx $140 mln for the design and construction of the terminal system works at a new liquefied natural gas import terminal in Fujian Province, Peoples Republic of China. This award follows the co's announcement in April 2005 of a $100 mln contract to build two 160,000 cubic meter full containment LNG storage tanks at the facility. The terminal will be owned and operated by CNOOC Fujian LNG, a co-investment of China National Offshore Oil Corporation and Fujian Investment and Development.

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hiker

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Reply with quote  #5 
13:20  Russia to spend $30 bln on modernizing refineries to improve quality of fuel, cut pollution, and meet Euro standards---Russian Energy Ministry

CBI
may build some of the tanks for this campaign - just thinking out loud.

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hiker

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Reply with quote  #6 
note the action in the Bollinger Bands for CBI. Some tax-loss selling may be impacting the price action as the year end approaches.

Daily PSAR remains on a buy, while daily macd is bearish. Price remains below the 21 ema this week. Note the support between 24 and 25.

-------------

CBI mentioned as a pick for 2006 in the last page of this article:

http://www.thestreet.com/_yahoo/funds/jubak/10258431.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA


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hiker

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Reply with quote  #7 
note the price and volume response to the convergence of the 50 sma and 200 sma:

http://stockcharts.com/gallery/?cbi

two successive days in which the 21-day ema has been tested by the high of day...note the 5 ema relative to the 21 ema, as well as the 3 ema vs. the 8 ema

the unbroken downtrend is clearly visible on the PnF chart.

$20-23 support zone has held so far, and has been retested this week.

a recent pattern of higher lows remains in-play.

note the structure of the RSI...and the recent action in the BB.



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hiker

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Reply with quote  #8 
CBI - closed today above both the 21 and 34 ema's. Observe price in recent history relative to these two moving averages. Also, note the pattern of the 21 ema vs the 34 ema. A 21/34 ema bullish crossover is likely to occur if CBI is able to pull off an upside break of the declining tops trendline.

http://stockcharts.com/gallery/?cbi

note the pattern of today's candle

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hiker

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Reply with quote  #9 
briefing.com's Swing Trader section released today at 9:04 a.m. highlighted CBI as a potential short candidate...citing the move up to the 3-month declining tops trendline, and providing a short entry signal on a lower low using the daily candles.

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hiker

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Reply with quote  #10 
http://stockcharts.com/gallery/?cbi

testing the area of the recent $22.99 low.


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hiker

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Reply with quote  #11 
healthy % bounce today, following yesterday's retest of the swing low.

An analyst initiated coverage today with a buy:

http://biz.yahoo.com/ap/060110/cbi_mover.html?.v=1


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hiker

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Reply with quote  #12 
15:17 - price has moved above the weekly 21 ema of approx. $25.74. Note price trend relative to the weekly 5 and 21 ema's.

Price is challenging the value of the weekly PSAR sell of $26.27...flips to a weekly PSAR buy on a move above.

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hiker

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Reply with quote  #13 
highest close since the bearish gap visible on the daily chart...current price action is now moving up and starting to fill the gap:

http://stockcharts.com/gallery/?cbi

note the 50 sma is attempting a bullish crossover of the 200 sma.

Point and Figure chart is signaling a breakout today.


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hiker

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Reply with quote  #14 
8/22 intraday

http://stockcharts.com/gallery/?cbi

may want to set an alert for a move, if any, above 27.47 visible on the weekly chart

the bearish gap visible on the weekly chart remains unfilled


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