Get back into beaten-down mining stocks: J.P. Morgan

The investment bank has closed a short position on commodities — specifically mining stocks and steel — and moved to neutral from underweight on the mining sector.

Mining has had it bad. The sector took the biggest hit from the last correction, down 10% since May 22. On top of a poor first quarter, the sector is now down 20% so far this year, says lead strategist Mislav Matejka in a new note.

Read More: blogs.marketwatch.com/thetell/2013/06/17/get-back-into-beaten-down-mining-stocks-j-p-morgan/