Unusual Activity in Mining Catches Najarian’s Heat Seeker
Looking at the materials and mining names, Pete Najarian has spotted unusual action that he thinks you should know about.
Specifically, the Pit Boss suggests putting Hecla Mining on your radar due to strong call buying – the Jan 6 calls.
”This stock is up 6% on the day and I’m seeing extreme buying,” Najarian says. “And when I say extreme I’m talking institutional investors buying 50,000 calls in the first hour of trade. Be aware of that. It’s extremely active.”
> NEW SLIDESHOW: 10 Top Stocks for the Long-Term Investor
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Trader disclosure: On Dec. 6, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders: Cortes is long Treasuries; Cortes is long TSN; Cortes is long K; Cortes is short AAPL; Cortes is short EUR; Cortes is short MXN; Cortes is short GBP; Cortes is short AUD; Cortes is short XRT vs. S&P long; Terranova is long EMC; Terranova is long SU; Terranova is long NCR; Terranova is long UPC; Terranova is long TRLG; Terranova is long VRTS; Terranova is long LQD; Terranova is long MUB; Terranova is long AXP; Terranova is long IBM; Terranova is long HES; Terranova is long CAT; Terranova is long SWN; Terranova is long CNI; Terranova is long DECK; Terranova is long SBUX;
Owns Facebook shares
Netflix (NFLX): I, Tony Wible, the Primarily Responsible Analyst for this research report, hereby certify that all of the views expressed in this research report accurately reflect my personal views about any and all of the subject securities or issuers. No part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views I expressed in this research report on.
1. UBS AG, its affiliates or subsidiaries beneficially owned 1% or more of a class of the following companies' common equity securities as of last month`s end (or the prior month`s end if this report is dated less than 10 days after the most recent month`s end): MGM Resorts International, Wynn Resorts
2. This company/entity is, or within the past 12 months has been, a client of UBS Securities LLC, and investment banking services are being, or have been, provided.: International Game Technology, Las Vegas Sands, MGM Resorts International, Wynn Resorts
3. Within the past 12 months, UBS Securities LLC has received compensation from this company/entity: International Game Technology, Las Vegas Sands, MGM Resorts International, Wynn Resorts
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