If you were (or are) a day-trader of BTU, what would you watch?
Its obvious natural gas prices, inventories, PRB prices, coal stockpiles etc. etc. have no bearing recently.
How about China, is it all still about China?
If so, it looks like China Shenhua Energy Co. Ltd. may have finally bounced hard off of a bottom. Is China what's leading coal stocks around by the ear, really??? Although I am a long-term investor, its worth keeping an eye on Shenhua, there does seem to be some correlation. Ticker symbol: 1088.HK
China has a middle class of 300 million expected to grow to 700 million. Windmills cant provide the base load, that leaves nuke or nat gas or coal. With nat gas going to 5 in the US its much more in asia. Coal will increase.
so natural resources are the inevitable benefactor. After the beating down to this support level we are seeing capitulation. Just keep that in mind. Its time to be patient, it will break north. This will be a great 5 year play especially when the republicans win the senate back during the midterms. The EPA is gonna get streamlined.