The New York Times reported this morning that the House passed a $284 billion, six-year measure that would pay for transportation upgrades around the nation for bridge and transit projects.
Which brings me to some of the most unconventional momentum stocks I’ve ever seen – Rocks. MLM, VLC and FRK have been lighting it up. It’s actually an attractive industry since you can’t outsource gravel to China, the price of rocks is rising (like all commodities) and the economy is doing well. While I can’t get myself to buy FRK since it’s valuation is off the charts, MLM and VLC are still within historical norms of valuation. All the charts are overextended and pulling back in the near term. However, if price approaches support levels, MLM and FRK might be worth a look.
