This market has been very rotational as buyers move from one sector to another. After a long period of underperformance, one area of strength the past 6 weeks has been the infrastructure stocks which were an area of emphasis back in 2007 and early 2008. This is a group that does well mid to late cycle as they require a stable financial environment for long term projects.... hence per the 'playbook' (the same playbook that said to buy early cyclical names a year ago) [Mar 7, 2010: CBSMarketwatch - Riding the Rally, How to Money in the Bull Market's 2nd Year] this is a go to group. The charts are showing fantastic strength across the board among the major players.
Jacobs Engineering (JEC)
Foster Wheeler (FWLT)
Straight Up Without Pause Since August
Shaw Group (SGR)
Chicago Bridge & Iron (CBI)