All the coal and related materials stocks like CLF just swooned down all week and really ran out of gas on Friday. I attribute it to mutal funds and the like trying to get these stocks out of their reported portfolios for 9/30/2013 plus the important, even if unexplainable, drift of stocks to "maximum pain" on Friday option expirations. My LINE ended almost exactly at $26, as predicted by "max pain" theory, my CLF ended right at $21 and BTU ended at approximately $17.50 which I believe is an option strike price for BTU. Starting next week we should have all this nonsense behind us and if we can just get the Washington nonsense out of the way, maybe we'll see some renewed move to the upside. GLTA
"The eyes of the world will be on Stockholm, September 27th, 2013, when the Intergovernmental Panel on Climate Change- I.P.C.C. releases it’s latest findings. "
Not sure how correlated the latest IPCC report is to today's price action, but the main street media has literally thousands of news stories parroting the IPCC findings. Sceptics certainly have things to attack in the report, but the IPCC confirms that their consensus of scientists (whatever that means) is more certain than ever that climate change is happening and humans are to blame.
It is an excuse to buy more on the cheap. It's all I really care about. When I look at TSL today and consider when I sold that for an easy double. I then look at BTU in the exact, same light. If you truly think this will take a long time to blast off, I would say think again. The same holds true for all of the other coal stocks that have been stampeded. NOW IS THE TIME TO BUY. Enough said. NOT strong buy, EXTREMELY STRONG buy.