It could! Interesting to know how did he come up with the number? It would be nice to hear some number from him not related to technicals: the only numbers he mentioned are 30% down YTD and target is $2.
Have to admit ... congrats to the ACI and other coal stock shorts! Good call!
And I thought that this week with BTU call will be pretty good for coal companies. Boy was I wrong! Hard to believe that even a bullish conf call from BTU and then from ACI would change the sentiment. Still interesting to see what will be the reaction to 166-168 Mt inventory and to PRB pricing for 2014-2015.
Not sure if everyone is following weekly coal shipping numbers on EIA web site, but is has been noticeable increase of PRB shipments the past several weeks ... I guess cold weather does matter after all. On the other hand, while prices went up almost 10% for the past month or so, it is not enough to get the region back on track. I'd rather have lower shipments and higher coal prices ... than what I see, but I will take any improvement.