Ok, here’s the short term story, in my opinion, on JRCC, and the rest of the coal companies. For their circumstances to change in their favor both houses, congress and the senate , will have to go to the conservatives, big time in the November election.
Even then that will not be enough, as there is a sitting president , and others that do not think coal fits very well in the future of the nations long term energy needs.
With that out in the open, JRCC , and possibly more coal companies, will hide out under chapter 11 , at least, through the elections this November.
Unfortunately , coal has become the step child of the energy commodities as it does not fit what many see as an essential alterative to anything meaningful, especially in the US.
Therefore, to hold , or continue buying shares in JRCC, which is currently in bankruptcy , in hopes of establishing an investment position, or any company holding coal as a hard asset through November 2016 is a probable fools errand, .
I say this, as the uses of coal are diminishing and a firm /stable price for coal that yet to be mined will be hard to nail down, especially during this period .
If someone wants to day trade this thing by all means , have at it, but play with funds you intend to loose.
Bottom line is JRCC never produced a profit even when coal was booming. It filed BK once due to its poor assets. It filed now. It will file again in future if it goes IPO again. Same was with PCX. It reported 42 quarters. Never reported a penny profit.
ftestatest it would be nice if you would reply to my post in regards to NIHD. You seem to be very informed and experienced in this stock game, which i am learning the hard way of how it works way too late. Any your thoughts on nihd will it be bought out ? will the share price increase in the near term so i can possibly get out of this pos asap? or do you believe it will see the same fate as Jrcc ? I am new to this posting stuff but you are the only one who kept screaming sell nihd before it collapse and descended to under a $1.00 when all others were blowing smoke about getting rich!..Anyway please let me know your honest opinion . thanks