Coal Stocks Cannot Heat Up
All of the leading coal stocks have been trending lower since late October 2011. Traders and investors are once again witnessing the coal sector decline lower today. The Market Vectors Coal ETF (NYSEARCA:KOL) is trading lower by 0.99 cents to $32.87 a share. Short term traders That follow the KOL should watch for intra-day support around the $32.00 level.
Some of the leading coal stocks that are trading lower today include Peabody Energy Corp (NYSE:BTU), Alpha Natural Resources Inc (NYSE:ANR), and Arch Coal Inc (NYSE:ACI). All of these stocks are in confirmed downtrends at this time. This technical chart position makes these stocks vulnerable to further declines.