Vulcan Materials, however, is a recovery story. That's what you get from reading comments from management. It basically boils down to this: the stock has already been knocked down, but we're closer to the end of the recession than we are to the beginning. And that could be a thesis that can be traded.

My colleague Joseph Lazzaro made this point back in June. He suggested, for consideration, a buy strategy to use with the stock in his article (as of Monday's close, the price of the stock wasn't too far off from when that piece was published).

It's difficult not to be persuaded by such thinking. You look at the cash flow, you see how it's improving (you realize, however, that the cash flow isn't pristine, because once you take into account capital payments, you notice that the cash left over was barely enough to cover the dividend obligation), and you really start to wonder whether now is in fact the time to buy, to get into the stock before the bullish market euphoria really takes it higher. So far, shares of the company have bounced off their low with respectable strength.

Vulcan Materials is interesting to me. There's a lot more going on than one might think. It really could be a good trade (I'm writing this ahead of Tuesday's bell, so I can't wait to see what the regular-session market thinks of the earnings). I've been very selective in my buying lately; personally, I won't be adding this one to my portfolio. But I am aware of the potential here. I'm going to keep my eye on the stock. If it starts to rise further, I'll revisit the business and see how the macro conditions are progressing. I wonder if Mr. Spock would find my position eminently logical or not. . . .

Disclosure: I don't own any company mentioned; positions can change without notice.