...with the long-term MACDs rising, and the NYSI turned up and white candles on the dailies today across the board, it seems rather obvious the sector is going to bounce.
Good luck and good trading.
http://stockcharts.c...49389023234.png
http://stockcharts.c...49389483764.png
http://stockcharts.c...49389539088.png
The Coal Bin
Started by
diogenes227
, Oct 04 2012 05:31 PM
8 replies to this topic
#1
diogenes227
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Posted 04 October 2012 - 05:31 PM
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#2
stubaby
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Posted 05 October 2012 - 10:34 AM
...with the long-term MACDs rising, and the NYSI turned up and white candles on the dailies today across the board, it seems rather obvious the sector is going to bounce.
Good luck and good trading.
http://stockcharts.c...49389023234.png
http://stockcharts.c...49389483764.png
http://stockcharts.c...49389539088.png
diogenes227:
I have a starter position in Natural resource Partners (NRP) FWIW. I like the yield and coal long-term:
http://stockcharts.c...1239&r=6808.png
http://stockcharts.c...7334&r=2030.png
http://stockcharts.c...49451120301.png
stubaby
#3
diogenes227
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Posted 05 October 2012 - 11:17 AM
diogenes227:
I have a starter position in Natural resource Partners (NRP) FWIW. I like the yield and coal long-term:
I don't know if you happened to see my recent discussions on the Fearless Forecasters board about this sector but I am very bearish on coal. Here are a couple of my previous posts on the subject:
ON THE TRACK TO BUGGY WHIP LAND
COAL'S SAD, LAUGHABLE DESPERATION TO GO TO BOARDMAN, OREGON
I'm not adverse to playing bounces from oversold but long term I think they are all dying due to the economics of natural gas, the lack of future markets (at least not the scale they've been used to), and when you get right down to it everyone, given a chance, would dump this poison. Even those who profess to like it (like Romney) now put the word "clean" in front of it -- "clean coal," they say now almost every time it comes up. I think that's because no one wants to say "coal" outright. It's a four-letter word after all. "Clean coal," by the way and despite the industry propaganda, does not exist.
Patriot Coal has gone Chapter 11. JRCC is likely next and maybe ACI or ANR after that. BTU is my favorite short (although CNX is on my radar too), primarily because it has plenty of room to move -- DOWN.
Regardless, good luck on your trades. One of the great things about the markets is there's always two sides to the story.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#4
diogenes227
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Posted 11 October 2012 - 10:48 AM
Nice bounce...and still going. BTU, ACI, ANR, CNX, all up double-digits.
But now it's time to watch the red zone on the big guy, BTU, and see how it goes --
Good luck and good trading.
But now it's time to watch the red zone on the big guy, BTU, and see how it goes --
Good luck and good trading.
...with the long-term MACDs rising, and the NYSI turned up and white candles on the dailies today across the board, it seems rather obvious the sector is going to bounce.
Good luck and good trading.
http://stockcharts.c...49389023234.png
http://stockcharts.c...49389483764.png
http://stockcharts.c...49389539088.png
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#5
viccarter
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TRIN_Rida
Posted 11 October 2012 - 08:11 PM
Ya, was all over this. Have had a UNG/ACI long position trades working for months. Been through some frustration, and now in the green, but hopefully we can eventually push through some more. Really ACI should see 10 before year end, but we'll see.
#6
diogenes227
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Posted 15 October 2012 - 06:26 PM
Ah, the dreaded doji right at the red zone...
That's a short on tomorrow's open.
Also temped to go after that rabid dog JRCC too since it's actually squeezed up 36 percent on this bounce...but will wait and see if it gets shot on the open tomorrow.
Am aware there's a low above a low on the NYMO which makes any short dangerous, but the NYSI is falling and BTU is giving its own individual sell on the CCI and coal in general just sucks so much... Regardless, the stop will be tight.
Good luck and good trading.
That's a short on tomorrow's open.
Also temped to go after that rabid dog JRCC too since it's actually squeezed up 36 percent on this bounce...but will wait and see if it gets shot on the open tomorrow.
Am aware there's a low above a low on the NYMO which makes any short dangerous, but the NYSI is falling and BTU is giving its own individual sell on the CCI and coal in general just sucks so much... Regardless, the stop will be tight.
Good luck and good trading.
Nice bounce...and still going. BTU, ACI, ANR, CNX, all up double-digits.
But now it's time to watch the red zone on the big guy, BTU, and see how it goes --
Good luck and good trading.
...with the long-term MACDs rising, and the NYSI turned up and white candles on the dailies today across the board, it seems rather obvious the sector is going to bounce.
Good luck and good trading.
http://stockcharts.c...49389023234.png
Edited by diogenes227, 15 October 2012 - 06:27 PM.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#7
diogenes227
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Posted 18 October 2012 - 07:44 PM
Ah, the dreaded doji right at the red zone...
That's a short on tomorrow's open.
Also temped to go after that rabid dog JRCC too since it's actually squeezed up 36 percent on this bounce...but will wait and see if it gets shot on the open tomorrow.
Am aware there's a low above a low on the NYMO which makes any short dangerous, but the NYSI is falling and BTU is giving its own individual sell on the CCI and coal in general just sucks so much... Regardless, the stop will be tight.
Good luck and good trading.
Got stopped out on this short and got what I deserved for trading against the NYMO/NYSI.
Will short this again, next time when the market tells me.
Good luck and good trading.
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#8
diogenes227
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Posted 24 October 2012 - 06:45 PM
Uh, there is NEWS
As coal goes, so goes the rails...
http://stockcharts.com/c-sc/sc?s=$DJUSRR&p=D&yr=0&mn=10&dy=0&i=p12947460878&a=278499129&r=1351122112360.png
http://stockcharts.c...51122178632.png
As coal goes, so goes the rails...
http://stockcharts.com/c-sc/sc?s=$DJUSRR&p=D&yr=0&mn=10&dy=0&i=p12947460878&a=278499129&r=1351122112360.png
http://stockcharts.c...51122178632.png
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
#9
diogenes227
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Posted 07 November 2012 - 04:02 PM
Seems these had hope going into election day and then canary died. Again. 
Attached Thumbnails
"If you've heard this story before, don't stop me because I'd like to hear it again," Groucho Marx (on market history?).
“I've learned in options trading simple is best and the obvious is often the most elusive to recognize.”
"The god of trading rewards persistence, experience and discipline, and absolutely nothing else."
