Dow down 3. All coal stocks down. NRP crashed at the open on very big volume. Going much lower. For the past three years, NRP shares have dropped about 20% after ex date. That puts the bottom this time at $9.98.
Natural gas back above $4. All about the latest weather report.
US - China Climate Change Agreement (see "headlines").. Record low temperatures across the US this week and next. If Gregory Boyce can't get coal prices up now, he should resign.
US - China Climate Change Agreement caused coal company stocks to collapse today. Crude oil and natural gas also caved. Crude oil below $75 and natural gas below $4. Analyst see crude below $50 and ng below $2.
For this time of the year, record low temperatures are expected across the US this week and next. If the coal and natural gas companies can't use "the freeze" to get coal and ng prices up, the towel can be thrown in on
companies in these businesses.
Dow up 56. Dow and S&P at record highs. Coal stocks mostly down. NRP up a nickle. If volume picks up, NRP will drop. Natural gas continues to crash. Now near $4. Some analysts believe that natural gas will trade below $2 if we have a mild winter. That would bankrupt every coal company in the US.
If the coal business doesn't improve, I believe that NRP will cut the next distribution (on the anniversary of the last cut). When NRP cut last year, they had a ton of cash.. I remember that during half a dozen analysts meeting they assured us that the high cash position would support future distributions ($2.55 at that time). I am not arguing that the cut was the wrong thing to do. Not arguing that it will be wrong this time either. THE COAL BUSINESS IS VERY BAD (gross understatement).
Joe Theismann is appearing on CNBC right now and recommends the coal ETF (KOL). His reason is the new administration (Republicans won the Senate). I liked Joe when he quarterbacked Washington. I also like his pick (KOL). Hope he is right.
Appreciate your comments about the NRP presentations. You ARE the best, jrad!
Hard to imagine just what MIGHT turn the coal business around. Big discussion on CNBC's "Squawk Box" this morning. Guest said that China is moving to buy natural gas from Russia in order to get off coal. Also said that the US will need more laws to get off coal more quickly. Seems likethe coal news gets worse each day.
Thank you again jrad.
Dow down 4 after hitting another record high (S&P also). All coal stocks continue to drop. NRP traded up early but now in the red. Natural gas has plunged almost 10% in since yesterday morning.
Under "Major Holders", Mr. Cline still owns 4,917,546 shares.
Hope you can listen to one or both of the presentations two of the NRP officers are making today jrad. Don't expect anything different, but they usually answer a few questions.
ACI down 12% today. ANR down 9%. Will again see record lows until coal fundamentals improve. Big drop today for natural gas also. Seems to move with the latest weather report. Bad news for thermal coal prices.
The election euphoria is finished for coal stocks. Some crashed today. Others will follow suite. Big move down today for natural gas. Seems to trade on the latest weather report. NRP did better than other coal stocks today. Closed up. Going lower!