Coal is down because "production" is down. Is "demand" down as well? Seems to me that if demand is constant and production is down there would be less supply and price should be up. What am I missing here?
Now down from $29/pps to less than $8/pps and still dropping. Even if the world was coming to an end this should have not dropped so fast and so steep. Unfreaking believable.
Market is pricing in a global slowdown in growth so all the cyclicals are selling off.This stock was under $3 a share in March of 09 so if we do get a global recession commodity stocks still have a long way to fall.
The global slowdown has been priced in for over 6 months now! A global slowdown is NOT news!
So that whole supply demand thing just went out the window?