Is The Commodity Bull Dead?

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Commodity stocks are declining this year amid a global market sell-off. Does the drop signal a global recession or a buying opportunity?

Mike Dudas, Metals, Mining and Construction Analyst at Bear Stearns joins the panel for this conversation. Following is a synopsis of his main points.

--In talking to the companies he covers (mining, construction names), Dudas says they haven't seen evidence of a global recession. In other words, they haven't seen fundamentals changing for the worse.

- The move down in commodities, infrastructure, machinery and utility stocks in recent days suggests that investors are selling first and asking questions later.

Is the Commodity Bull Dead?
Is the Commodity Bull Dead?   

-- Dudas recommends taking this opportunity to buy. He likes Newmont Mining (NEM) Freeport McMoRan (FCX) and the Materials SPDR (XLB), though the last pick could be volatile.

Symbol
Price
 
Change
%Change
FCX
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NEM
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Trader disclosure: On Jan 23, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (YHOO); Najarian Owns (BIIB), (C), (CSCO), (EBAY), (MCD), (MSFT); Najarian Owns (AAPL) Calls, (COP) Calls, (NSC) Calls, (WM) Calls, (YHOO) Calls, (YRCW) Calls; Finerman Owns (GS), (M); Finerman's Firm Owns (MO), (ODP), (TSO), (YHOO), (AEO), (CROX), (HD), (WMT); Finerman's Firm And Finerman Own (FLS); Finerman's Firm Is Short (SPY), (MDY), (IJR), (IWM), (SPG); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts