Even with Thursday’s market turmoil, one sector continues to hold its own. Find out which stocks aren’t getting dragged down by general declines.
Which stocks do you like in this tape?
There’s an agri-boom going on, says Pete Najarian on CNBC’s “Closing Bell.” When you look at the energy bill Congress recently passed, it emphasized biofuels. That’s generated a lot of interest in agriculture companies.
In fact, Morgan Stanley put a $180 price target on Potash (POT), Najarian adds. Personally, I like Archer Daniels Midland (ADM). Also look at Monsanto (MON) and Mosaic (MOS) he says, but wait for a 10% pullback in those two stocks.
Would you play coal?
I think Joy Global (JOYG) is a great coal play, Najarian replies. They make the equipment to extract coal from the ground. Or take a look at Massey Energy (MEE) as well as Arch Coal (ACI). Not only is coal used to generate electricity, it’s also needed to make steel.