All of this suggests that weakness in the construction area is now working its way out, and the bottom has been reached. For investors, this could be the time to start moving back into construction.

But circumstances still demand that one be picky, as sectors of the construction industry are still too weak to warrant one's investment dollars. Homebuilders, for instance, are still too dangerous, as their performances remain shaky, and they do not get the support they need from the guru strategies I follow. But suppliers to the construction industry show promise.

One such company has caught my eye: Florida Rock Industries (FRK - commentary - Cramer's Take). Operating mainly in the Southeast and mid-Atlantic states, Florida Rock is a major provider to the construction industry of concrete products, sand, gravel and crushed stone.

Last spring, Florida Rock stock topped $66, only to fall to less than $36 last summer as the construction industry went into a swoon. The stock has since recovered to about $46. If construction, including housing, begins its upward cycle, or even if it just stays steady for a while and doesn't head further south, a company like Florida Rock, with its size and track record of growth and acquisitions, could experience a nice run up. The Warren Buffett and Peter Lynch guru strategies give Florida Rock their highest accolades. Here's why.