LMT bleeped on my radar just now as it went down more than 7% despite going up by 1% in pre-market.
The move came in after new results were out, I'll quote some of them and you be the judge if this fall is organic: "- earnings of 1.2B, or $4.02 per share, compared to 78M, or $2.69 per share, in the same quarter a year ago. - Quarterly cash deployment: Cash from operations of 632M after pension contributions of 1.5B; Capex 216M; Repurchased 900K shares; Paid cash dividends of 586M; Record backlog of 105B. -Raised outlook for 2018: Diluted earnings per share (GAAP) of $15.80-$16.10 (from $15.20-$15.50), on net sales of 50.35B-51.85B (vs. 50B-51.5B)."
Absolutely a buy in my book, would give it one more day to see where it will consolidate, but expecting the comeback to be swift as it has been each time the previous pullbacks occurred.
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327 resistance level played out really nicely today. Didn't enter the position due to obligations that kept me out but will consider doing so tomorrow if all conditions are met.