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Current DateTime: 03:47:34 21 Nov 2009
LinksList Documentid: 30328029

CNBC Stock Blog

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Nov.04
4:25 PM ET
Tuesday, 4 Nov 2008
Living in a Material (Stocks) World
Posted By:Matt Nesto

It's a tale of when the worst becomes first.

Matt Nesto, CNBC Reporter

Matt Nesto
CNBC Reporter

The beaten-down materials sector appear to be back on track and making milestones: it's been the top performing sector over the course of a week, and the top performing sector today.

The once-beaten down sector, in terms of performance over the past five days, is up 10 percent and 4 percent today.

But what really gets my attention? The group is the worst performer since October 1, down 19 percent, a full five percentage points worse than the broader S&P. These are all signs of an early momentum for a group that's completely oversold.

Some stocks to watch: Titanium Metals [TIE  Loading...      ()   ], Vulcan Materials [VMC  Loading...      ()   ], Freeport-McMoRan [FCX  Loading...      ()   ] and U.S. Steel [X  Loading...      ()   ], all of which posted gains of 15 to 25 percent in five days.

And many, many more are making gains: Half the index is up 10 percent. (See chart, above.)

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