Ground Control to Major Coal
Not just for any Bowie fans out there, but i thought some of you might appreciate my reaction to this coal rally, and in particular with respect to Patriot Coal:
The article fits with earlier observations from my roving canary with respect to Massey, Arch, and CONSOL:
Peabody's Play Within a Play
When Blazing Furnaces Go Stone-Cold
Reincarnation of the Decoupling Debate
You all know I'm long-term bullish on the entire coal sector, including the tronger domestic ones... but the timing and character of this rally appear suspect to me. I'd love to know your thoughts, Fools!
I will say, though... it's been some five-day rally! Certainly convincing from a technical perspective.