Nice theme..
September 14th, 2005 by BWV
As the big money managers hunted for stocks that would benefit from the rebuilding of the Gulf Coast, about the first ones they stumbled upon were the 2 biggest general contractors for installing power & telephone lines: Quanta Services (PWR), and Mastec (MTZ).
This was somewhat unfortunate for me, as they started running before I was able to react.
I was watching them for other pre-existing reasons:
1) the massive fiber-to-the-home construction that local phone companies (Verizon, etc) are currently rolling out, and
2) the way overdue improvements needed in our nation’s power grid. Remember the NYC blackout a few years ago? and the one in LA just last week? Someday we must rectify this issue, and from the bottoming action in these stocks, it appears that could happen sooner than previously forecast.
We are long a full position in MTZ from the 10.50 area during the last week in August. PWR got away from me.. but I’m confident that a decent pullback entry awaits me sometime in the next week or so.
Long MTZ
