I live in the St Louis area, home to Arch Coal. Although this very low price is tempting, it just doesn't seem warranted except for those willing to wait years for the coal industry to turn around.
Problem is obvious - NG is eating coal's lunch and there's so much of it (NG) that there may be no additional room to store it all come summer. Most US coal consumption is used for power generation, and NG is likely being used whenever it can to keep utilities' costs low.
Cheers to the longs - I'm with you in spirit - though unfortunately not as a shareholder, Joe