Making a Short Call
The thirst for mobile data seems unquenchable, and the need to access it from any location is a necessity. The long-term rise in the stock prices of American Tower (AMT) and Crown Castle International (CCI) reflect that demand but, like any stock, the rallies have included periods of sharp advances and periods of consolidation. The stocks of both these wireless infrastructure companies spent a good portion of the latter half of 2011 moving sideways. Last October, AMT began to trend higher and, at the beginning of this year, CCI broke above resistance and started to advance. There are signs, however, that these moves may be overextended and a correction or, at the least, a healthy consolidation may be in order.
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