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  • Coal Gets Slammed Again 0 comments
    Mar 19, 2013 11:14 AM

    One of the worst performing stocks sectors in 2012 has been the coal stocks. Today, this important industry group is falling lower again. The Market Vectors Coal ETF (NYSEARCA:KOL) is trading lower by 0.38 cents to $23.22 a share. Traders should note that the KOL traded as high as $26.39 a share on January 7, 2013 so traders can easily see this gradual decline that has taken place over the past couple of months. Short term traders should watch for intra-day support around the $23.10, and $22.80 levels.

    Some of the leading coal stocks that are declining this morning include Peabody Energy Corp (NYSE:BTU), Alpha Natural Resources Inc (NYSE:ANR), Walter Energy Inc (NYSE:WLT), and Arch Coal Inc (NYSE:ACI). All of these stocks are negatively affected by China economic weakness and the energy policies by the current U.S. administration.

    Nick Santiago

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