Vulcan Appears Vulnerable Again

Vulcan, and other similiar companies, has nearly doubled in the past several months as infrastructure rebuilding and stimulus mania has taken hold. The thesis holds that stimulus funding will fill the hole that developed in residential, commercial, and state road budgets. It won't. At best, it will halt the decline in volume, but it won't get the company on a fast growth track. The price surge reflects the beginning of good times being here again.

In 2007/2008/2009 I rode puts and shorts on both VMC and MLM. It's time to start nibbling at negative bets again as these companies are priced too richly.