Urbane Gorilla!

Cutting Position in James River Coal, Assuming Failure at Resistance

Just bought UNG long and expect to hold it through January. I've been looking at coal as well... But with the sharp little burp it just went through, I'm expecting it to pull back first. And unless something happens, such as China really coming back in the market, steel ramping back up, or the open-pit lawsuit against coal in Virginia closing in favor of the EPA types... Then I just don't see much to move it up in the nearer term.

Also, red an interesting article about India and China buying cheaper and less efficient coal from spot sellers in Malaysia. Apparently they will only buy if the sellers can match the price of cheap coal in China and India, which is less that we can sell and ship. If the Chinese really do clamp down on their mines (rather than just talk about doing so - they had another major calamity with a few dozen deaths two days ago)... Then maybe there might be an uptick.. Lets face it, Winter is on its way... In that case, maybe BTU would be a good buy, what with their Aussie exposure and closer shipping ..

jegan ;-)