Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Patriot Coal
So what: The rumor is that Anglo American is interested in buying Walter Energy
Now what: Rumors are a lot of fun if you own shares, but right now there are no real facts behind today's move. The Times of London helped fuel the fire of a Walter Energy buyout rumor and Patriot Coal's shares came along for the ride. I would be careful buying on rumors because if they turn out to be false, shares will be right back where they started.
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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