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Coal Gets Slammed Again

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