The coal market doesn't function independently from the whole energy market. There's a battle of choices. Do I use Natural Gas or do I use coal ? Which is cheaper at the time ?
I know that NG futures into next year are above $ 10. [NG currently is in $ 5.50 dollar range.] So that bodes well for coal in the long run, but energy prices are still in a downfall. That's the trend.
Cramer announced that he expects oil to drop to $ 56 a barrel [his lowest figure to date]. NG could be testing $ 5.00 by then, and BTU may be testing the $ 30 level.
I think we have at least 2 more months left for the market to decimate the energy stocks.
We at least have till the end of this quarter [end of this month] because the mutual funds don't want to show they have BTU in their portfolio [are window dressing] being that its been a loser.
Cramer is a trader, not an investor. Two weeks or so ago when he was bullish on BTU, he was right, and the stock went up. If you had traded in and out of it on that run-up, you would have made money. A couple of days ago he warned it would go lower, and not to buy yet. He was right on that too. If you either stayed away or better yet sold short on that you would be thanking him now.
If you are long you will get a chance soon to bail.