Playing Higher Met Coal Prices
Metallurgical coal prices are going up, Cramer said Friday. The "Mad Money" host recommends playing the increases through Walter Energy .
Based in Tampa, Fla., it is the only pure play on met coal in the U.S. and exports nearly 100 percent of what it mines, Cramer said. Walter has the most open contracts, meaning it's in the best position to benefit from massive price increases. In turn, it's stock has traded up on the recent spike in the price of met coal.
Cramer originally recommended WLT on March 9, 2010 at $86.11. Since then, it's went up by 49 percent and he thinks it could climb higher. Watch the video to see Cramer's full thoughts on Walter Energy.
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