Wall Street seems to be on M&A watch with the next big areas of consolidation potentially being coal and steel. What should you know?
Demand for coal seems to be escalating, says Pete Najarian on CNBC’s Closing Bell. It’s growing at an unbelievable pace and it’s a worldwide phenomenon.
I’m seeing some unusual options activity in Arch Coal (ACI). Traders are buying the March calls and the July calls which suggests to me the stock could soon move higher. Also watch Alpha Natural Resources (ANR), he says.
Steel is right behind coal in demand. We’re always talking about global growth on "Fast Money" and as long as that sustains demand for steel should remain strong worldwide.