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Booking Some Sure Profits

This infra play is up 17% from my cost basis, so I'll take some off the table.
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Foster Wheeler (FWLT) is up about 2% today, and I am going to trim 500 shares of the stock after this Alert goes out to all of you. The stock is up 67% from its low in March and up about 17% from my cost basis. I still think this is a premier industrial stock that has a lot of global opportunities for contract wins and growth, but I am going to take some profits at these levels.

I like the conservative nature by management regarding its cost structure, and I think its backlog is solid and provides good visibility in the future. But at $77, I am going to trim the position and will now on about 5% in the fund.

Regards,

Jim Cramer

DISCLOSURE: At the time of publication, Cramer was long FWLT.

Send email to james.cramer@thestreet.com.