This was and is tax loss selling. Will continue through year end. ALL coal stocks were crushed today. No bottom in sight. Down slide will continue at least through year end.
WLT was down almost 7%. Recovered a bit but closed down more than 3%. Other coal stocks took big hits also. All are going lower. Downward slide will last at lease through year end. All of the coal news is bad and there will be a lot of tax loss selling. NRP lost less than 1% on light trading volume. Going much lower.
Dow, S&P and NASDAQ continued to skyrocket today.
Natural gas price hit a six month high this morning but has sold of and is now down 1%. CNBC contributor says that warm weather in the forecast will take it lower.
Big move down for most coal stocks. NRP at the low of the day.
At about 10 am, my screen showed NRP trading volume of 255,000 shares with a share price of $19.89 . Also showed a high of $19.97. Have no idea what happened.
Volume picked up and share price is up also. Almost 250,000 shares traded and took stock price up almost 20 cents. Good news!
Dow up 28. New record highs for dow and S&P. Most coal stocks in the red. NRP up a penny on light volume. Will drop when volume picks up. Natural gas meeting resistance at $3.80 (heard that on CNBC).
Today, the dow and S&P traded at all time highs. NASDAQ was above 4,000 (highest since 2000). At the time that all of this happened NRP was trading at the low of the day. Most other coal stocks were also down. Only thing that will help coal company stocks is m&a and (or) contrarian trading (mentioned by seeking alpha and Dennis Gartman.. NRP share price is going lower.
Just saw more good comments from Motley Fools (see headlines). Won't help. They have been posting same comments for months.
At 10:36 this morning, "The Street" again put a "buy " rating on the shares of NRP. Right now, NRP is trading in the red down almost 1% at the low of the day. Going much lower!
Contributor to the BTU message board reports that average electricity rate in the USA as risen from 9.3 cents per kwh in 2003 to 12.8 cents per kwh in 2012 to 13.2 cents per kwh through Oct. 2013. Would guess that the climb will continue as coal usage drops.
For the week the dow was up 103 and set new record highs almost daily. NRP closed down 33 cents in a very narrow trading range. If the dow continues the record setting highs, NRP won't get hurt too badly. If the dow falls back a bit, NRP will drop like a rock. ALL OF THE COAL NEWS IS BAD!!
Big swings in coal today. WLT fell off the cliff at the open, later traded in the black and fell back into the red in the afternoon. NRP gained another dime. Was down for the week. Going much lower,.
Very good day and week for natural gas.
We know that coal fired energy generation is going away in the US. Still hard to accept if you own coal company shares. In the short run, more coal mines will need to be shut. Hasn't happened yet with NRP mines. Believe it will happen in 2014.
Thanks for the posting, jrad. I had not seen the announcement from Dominion.
Dow down 22. All coal stocks down except NRP. Sell put on WLT yesterday by Fast Money panelist (CNBC) Very low volume for NRP. If volume picks up share price will fall. Natural gas trading at 1 month high. Inventory dropped slightly more than expected.
Dow closed above 16,000. Another closing high. Most coal stocks had big losses. NRP closed up a dime.
The strength of the dow continues to hold NRP shares in the black. Coal stocks will remain under pressure through year end. Tax selling for the big losers. Other reason is that the major investors (funds, etc) don't want to have to explain coal ownership to their investors. NRP is going much lower.