Discussion in 'Stocks' started by gobar, Jul 2, 2008.
down 10 to 15 % across the board
looking to go long buy call option
little buying from coal consumers due to high spot prices but this is always the case until reserve supplies run low and they have to scramble in the spot market driving up prices even higher.
I've been buying calls on MEE all the way down.
This has been a great intraday trade lately, but this might be the best opportunity yet...
even if the crude numbers are bad in a few minutes, that's no compelling reason to short coal like this.
As I sit here I can see two full coal tankers outside my lake erie window. Last year, I saw one a three days. Now, I see 4 or more every day. Coal is hot.
r smart money going into sidelines or money rotating from coal, steel, oil to financial?
2nd day in a row coal and steal stocks r been punished badly..
gold was up huge yesterday but FCX, AA both were down...
solars have also been getting/r getting pounded. I bought some coals and solars this AM
solars, coal, and oil/gas have been pulling back recently. Not sure what the reasoning is.
1) chatter that coal delivery for next year in Europe will be down 13%; 2) talk of hedge fund selling to cover margins & redemptions. Additionally, Reuters South Africa reported that coal physical and swaps prices plunged by more than $20 on Wednesday as the market began a long-awaited correction. At least one physical coal cargo has traded almost $20 lower than prices indicated on Tuesday and bids have pulled back by over $20 from Tuesday's levels for South African cargoes FOB Richards Bay and multi-origin coal delivered into Europe. Richards Bay cargoes traded close to $180 early in the week but bids had pulled back to $150 by early afternoon Wednesday.
there you go.
I agree there's great trading opportunities out there in coal...even though i think they're retarded over-valued.
coal is trading with crazy future expectations. There's no doubt this bubble is growing quickly right along side with potash plays.
alot of the chinese solars got downgraded by GS thats what is bringing them down so much, for me at least it seems they downgrade stuff and buy it only to upgrade it a few weeks later it's rediculous, also spain didn't give as many solar subsidies as promised that was also negative news, but hey with energy costs rising it's only a matter of time before grid parity with solar will be reached and then the smart choice will just be to buy solar regardless of if you get subsidies or not, it's kinda like subsidies for hybrid initially they were big to get people to buy it but now they have reduced them and the demand for hybrids is alot greater now than it was 5 years ago.
i agree with the opinions on coal as china and india grow coal will go way up there no doubt to that
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