Until it becomes apparent that coal prices have hit bottom and are finally up it is hard to get too excited. Something that is low can still go lower. The $14's may have been the long term bottom, but I doubt it.
Longs will get another chance to buy in the low $14's if that is indeed the long term bottom. BTU is nothing if not predictable on earnings day, a rally, followed by a multi week sell off. This market is overbought, no reason to go long here. I picked up WLT several weeks ago at $11 and sold yesterday when it popped at the open. Looked overbought to me and I had a very nice profit. WLT getting pummeled today, am I a buyer, nope.
It's presently around $10.50...but they need prices quite a bit higher than that...$12 and trending higher at least. The market generally is sky high. When it adjusts it will take BTU lower too. Not to mention a global economy that slows and slows and slows. Hanging on by their fingernails while trying to avoid the debt boogie man.