I first started mentioning McDermott International (MDR) eleven months ago when it was about a $10 stock. It has been a bumpy right up and down since then, but on the whole, it has moved lower. As I’m typing this, it’s down about 6%, and I continue to feel that, ultimately, it’s going to be a lot lower. Below I’ve put up a long-term daily chart as well as a close-up view (the tinted zone in the larger chart) so you can see the recent gap-down action.
