nycDem

Massey Energy Posts Big Number But Big Charge Too

Sorry, my comments were wrong. USO goes up...all the "oil-related" stocks go up (not down). Too much late-night blog posting.

Apologies.

Massey Energy Posts Big Number But Big Charge Too

It IS getting old. Watching the ticker the other day, USO goes down...CHK/XTO/MOS/BTU... goes up. USO goes up...and all these babies go down. Like kids on a seesaw.

Eh...at least coal is the same color as crude. Even shares the same first letter.

But NG, fertilizer? C'mon, people! Maybe the hedgies are on vacay and haven't had time to enter in some new algorithms.

I hate this market now. It's no different than a roulette wheel. Can we please get back to rewarding fundamentals? Seems energy went from being Prom Queen to the buck-toothed fat girl in the course of one week. Why? Just b/c the hedgies said they liked Merril's taking out the trash so much.

Pffft! Fine go ahead and invest in financials right now. Personally, I think it'll feel no different than getting run over by a garbage truck.

I remain long XTO and CHK. I've got October $55 calls I bought at the recent low. Maybe I'm a fool. But I'm hoping it'll be a cold winter.

Coal and Steel Stocks Take A Hit

Greg, thanks for that great post. I agree with you, although I haven't looked at the specific data driving today's sell-off. However, based upon my research over the last few months, the coal story is very much still intact.

As an example, ACI is expected to grow at nearly 40% year-over-year for the next five years. (2nd qtr earnings are due on July 23rd).

Today's drop was pretty dramatic, but I will be surprised if we don't bounce back in short order.

I agree that this is a buy signal, but the market is pretty high-strung right now so I'm going to wait to see what happens tomorrow. We could get another down day.

Coal and Steel Stocks Take A Hit

Uh...SDIMGR, that article you cite is a year old.