4 Big Reasons Why Coal Stocks Have Climaxed
In mid June I posted that Coal stocks were up over 100% on average since April with returns as high as 165%. It wasn’t but a few weeks later that these same stocks threw up major warning flags.
As a free subscriber (”email me updates!”) to the stocktradingtogo blog one of the great advantages is staying up to date on all major trends. What I have below are four stock charts that show why the coal stock trend has peaked for a potentially very long time.
1. Alpha Natural Resources (ANR)
Since peaking at $108.73 on June 30th ANR has dropped as low as $80.42 (-26%).
2. James River Coal Company (JRCC)
Since peaking at $62.83 on June 19th JRCC has dropped as low as $40.16 (-36%).
3. Massey Energy (MEE)
Since peaking at $95.70 on June 30th MEE has dropped as low as $72.21 (-24.5%).
4. Fording Canadian Coal Trust (FDG)
Since peaking at $96 on June 30th FDG has dropped as low as $73.92 (-23%).
I remember when you posted on Coal stocks in June, lucky for me I am already subscribed to the blog
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Ya’ll know what this mean, right? Let’s buy more put.
Happy 4th of July to you too.. hahaha
I can’t imagine actually being a part of that run, my portfolio would have been on steroids.
You are telling me, I would take 100% in 3 months any time of the year.