Not a short position. Goldman Sachs changes their position on OIL and all of a sudden the risk trade is back on. The move in oil the last couple days doesn't justify the almost 5+ point gain in BTU. For those that are LONG who don't watch their back door may be in serious jeopardy. The drop from 71 to 57 was not nice and it wouldnt take much to be back where we were OR lower. This double bottom and then breakout is shallow and the volume is not conclusive that we are on the verge of a major change in direction. So if my judgement is incorrect then the worst that will happen is I'm out my insurance.
I got in at $58 and I'm happy. China wants coal. BTU can get it to them. Japan will be buying coal to replace nuclear. BTU can get it to them. Why would you short down here? If it falls, I'm buying more.
Raised the bar a little today and lightened up a little on the long side. Not a bullish scenario by any means. As mentioned the other day we either go gangbusters here right through 61 or we head back down towards 57.5. So a floor at 60 is playing it safe either way.....
If your into candlestick charting we got two of those doji's back to back yesterday and the day before.....Doji means INDECISION between buyers and sellers which kind of sums up where we got to recently. Doji's also occur around turning points. We seem to be into one of those turning points although there is an awful lot of overhead to get through before there is any type of clear sailing here.....I did some checking last night and OIL and COAL really shadow each other quite well.....Although the move in coal kind of gotta ahead of itself when we hit the wall a few weeks back.....which explains possibly why the move down was as merciless as it played out....The 24% drop definitely took the wind out of a lot of sails....So I'm guardingly optimistic that for the moment things are looking a little bit better.....Not ready yet to throw the puts out with the bath water.......
What's wrong with buying BTU at these levels? Australia's stock market heads up over the summer according to research I read. BTU has strong presence there. Does anybody really think China is done buying coal? Seems to me China did this prior to summer Olympics and scared people only to roar back with high demand. You have to remember the Chinese are not dummies. When commodities in general and coal and iron ore in particular get too high, China cools purchasing, drives down costs and later starts buying again.
You watced Cramer, skipped the due diligance and bought stock?
Hmmm... Maybe you should have read their financial reports, checked out the seasoanailty of Coal,looked to see if you were buying on the High End. I am all in at $55.50. Good luck!
i kno yor pane
he have stok, talky big and tell peeple buy.
flippy flop, then see drop. som peeple say fontrunnnee
the veerlee baad thing is thisklamer they say at end of show
sec and fcc peeple shood say stop
10/2008 - i sell evleeding if yu need money in 5 yeers on today show
i no buy ge things and no mor comcas tv. chage to verlison
a baad maan. verelee veelee baad maan