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Beaten up coal names get beaten up some more in wake of the reportedly imminent Patriot Coal...

Beaten up coal names get beaten up some more in wake of the reportedly imminent Patriot Coal bankruptcy filing. Arch (ACI -8%), Peabody (BTU -5.4%), Alpha Natural Resources (ANR -8.5%) The coal ETF, KOL -4.2%. Isn't this the sort of thing that happens at bottoms?
Comments (19)
  • buyitcheap
    , contributor
    Comments (1901) | Send Message
     
    OUCH - taking the pain, taking the pain.... I remember these conversations about housing not long ago....

     

    still long JRCC, ACI,

     

    Adding ANR...
    9 Jul 2012, 03:46 PM Reply Like
  • Stone Fox Capital
    , contributor
    Comments (6831) | Send Message
     
    It definitely pushes max fear into the sector even with rising nat gas prices and Europe closing nat gas plants in favor of coal. The fundamentals should be shifting but this has pushed stocks back down to lows.

     

    Might be the time to finally add to coal positions.
    9 Jul 2012, 03:53 PM Reply Like
  • 972029
    , contributor
    Comments (64) | Send Message
     
    KOL went to $14 a share in 2008 with China still in the middle of their boom back then-care to catch a falling knife? go ahead-scoop up KOL at $24 a share as well as the rest of the coal producers. plus Obama in office for with his anti-coal hippie energy advisers for another 4 years will suppress coal for awhile
    9 Jul 2012, 11:11 PM Reply Like
  • buyitcheap
    , contributor
    Comments (1901) | Send Message
     
    I was accused of catching a falling knife way back when GLD fell to 66... it worked out okay....
    10 Jul 2012, 08:42 AM Reply Like
  • maudie
    , contributor
    Comments (482) | Send Message
     
    Romney 2012-Coal 2013
    9 Jul 2012, 04:05 PM Reply Like
  • SaGE_99
    , contributor
    Comments (33) | Send Message
     
    I was kicking myself for not doubling down when BTU hit its 52 week low recently (initially jumped in at $26). If it gets back down there again, I won't let the opportunity pass by again. BTU at < $21? Yes please!
    9 Jul 2012, 04:20 PM Reply Like
  • Ohrama
    , contributor
    Comments (532) | Send Message
     
    "Isn't this the sort of thing that happens at bottoms?"
    I see a low of around $10 during the 2008 and the present value of $22 is no where close to that bottom. Further when the market goes down (as it appears to be a good possibility with Europe, China, Japan etc. problems), the beaten up companies and sectors (or the already vulnerable ones) get beaten up more.
    9 Jul 2012, 04:21 PM Reply Like
  • nikunj715
    , contributor
    Comments (2) | Send Message
     
    historically Lehman went bankrupt Sept 2008 and markets continued south till Mar 2009....
    9 Jul 2012, 04:42 PM Reply Like
  • blueice
    , contributor
    Comments (3817) | Send Message
     
    Coal will continue to burn investors...
    9 Jul 2012, 04:51 PM Reply Like
  • mbeauclair
    , contributor
    Comments (5) | Send Message
     
    There's cheap and cheap. Maybe the world could go without coal... or maybe not.
    Long BTU
    9 Jul 2012, 04:54 PM Reply Like
  • mike.bear
    , contributor
    Comments (6) | Send Message
     
    I wonder what happened to Mark Anthony
    9 Jul 2012, 05:48 PM Reply Like
  • blueice
    , contributor
    Comments (3817) | Send Message
     
    Mr Anthony, is in a shaft looking for his coal stock certificates!
    10 Jul 2012, 08:46 AM Reply Like
  • fresh13
    , contributor
    Comments (9) | Send Message
     
    LONG BTU - Best of breed. Might not matter...nothing makes sense. still long I have seen this story beofre
    9 Jul 2012, 05:58 PM Reply Like
  • Tack
    , contributor
    Comments (14267) | Send Message
     
    Remember in 2002 when energy companies all plummeted to record lows after Enron. Those companies all rose hundreds of percent.

     

    Take note.
    9 Jul 2012, 06:36 PM Reply Like
  • rocknrollstew
    , contributor
    Comments (118) | Send Message
     
    will arch coal make it thru the down turn in coal demand?? i know they are more into the export market than domestic demand.
    9 Jul 2012, 07:44 PM Reply Like
  • unit306
    , contributor
    Comments (5) | Send Message
     
    The stock market is a weird place. I made money with biotech hoaxes like Dendreon but if I invest in energy, supposedly the can't lose sector I do.

     

    When you have a government of global warming ideologues who, somehow, imagine they can renewable power their way through 100 degree summer days ( can't wait for the first hurricane to pass over their wind farms and solar arrays) you aren't dealing with thinking people. Just Gorons and Obamagroids.
    9 Jul 2012, 09:46 PM Reply Like
  • blousonblouse
    , contributor
    Comments (7) | Send Message
     
    maybe BTU will buy the Patriot assets back from the Administrator at a fraction of what it floated them off at? But it does highlight the wisdom of the BTU management in identifying those assets as non core .

     

    the world is a very scary place right now- maybe japan's lost decades will look small beer compared to what happens in Europe over next 10- 20 years ! Personally I can see BTU easily going sub $20, and then the opportunity is probably in long dated calls- or for the brave selling long dated very low priced puts- Jan 14 $13?.
    10 Jul 2012, 04:47 AM Reply Like
  • buyitcheap
    , contributor
    Comments (1901) | Send Message
     
    Not so sure on jrcc, we're revisiting 2007 lows here to be sure, where I bougtht last time... August earnings release will certainly be the indicator.
    10 Jul 2012, 09:01 AM Reply Like
  • fresh13
    , contributor
    Comments (9) | Send Message
     
    coal is done... i have been holding BTU and WLT for the last two years and i will never buy another coal name again
    26 Mar 2014, 12:23 PM Reply Like
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