Everyone is negative all the coal stocks. ACI, ANR, JRCC all down big also last few days. Seems like there have benn positive reports about overseas coal usage. Seems like we have had a pretyy cold winter. News of floods and strikes. Yet coal still going down. Is this ever going to turn around or more BK's coming soon. I would buy BTU in 23's but am already in over my head with ANR.
ANR, ACI and BTU were all in an uptrend from late July 2012 till the election in November 2012. The outcome of the election took us back and through a consolidation period then coals ran up in to early January 2013.
It may have helped if the coal companies that reported provided definitive guidance on the timing of a coal recovery. ACI did point out that exports are increasing. This provides credence to all the news about coal usage overseas, floods, etc.... Colder weather does help along with higher NG which seems to be in stall period.
The PPS for coal companies have been on the decline since the top in January 2013. Is it consolidation or a new downtrend? A catalyst would help to reverse the PPS back to an upswing. There are a few companies in the sector that will report next week on 2/12 (clf), 2/13 and 2/14 (anr). Hopefully they will beat and guide higher. I am concerned about BK. JRCC doesn't report till 3/1.