Patriot Coal (PCX): Bounce you Booger, Bounce
Hello all. I thought I'd give this a try (I'm a newbie here, so please have a little patience). So I think PCX is overdue for a major gap up. Why? Well a few reasons. First of all, the short interest in the stock is approximately 14%. Any bigtime news would cause a quick short fry squeeze on the stock. Secondly, today Patriot settled the selenium lawsuit which has hung over the stock like a black cloud over the past few weeks. They were reprimanded, however, they should be able to look forward in compliance with the rules and regulations set forth. It's always a good thing to get things over with and to look forward to new beginnings. To add, the stock is just about at its 52 week lows set almost one year ago. (Wow, alot of people tried to catch this knife all the way down, but I'm thinking now is the time that the knife thrower becomes tired). Oh, and that Hurricane thingy on the east coast could cause a spike in electrical demand tomorrow-just a guess. Last but not least, I put two bowls of cat food out 3 days ago. I labeled both of these bowls. The first bowl labeled 'Buy PCX', and the second bowl I labeled 'Don't buy PCX'. The cat went for the 'BUY PCX' Bowl immidiately.
Disclosure: Long PCX at 10.34