for saudi's it's all about taking out the highly leveraged frackers and e&p's by making oil/gas prices below cost of production. this will put a floor in below $85 for wti and $3.50 for ng not a bad thing for coal. saudi's cost of production are really next to nothing in the oil game its like sticking a straw in sand.
sorry about your loss. i agree coal is finished but first it has to get "right sized".coal will take some time to die mainly because of the investments utilities have now in burning coal. switching to NG isn't practical unless you have gas running by your power plant. many coal fired plants are located in rural areas.its anybodies guess at this point how many coal miners will survive to service those dwindling numbers of power plants.
agree, stock futures are down over 170 for Monday a.m. main reason is the huge down draft we had on Friday close minus 130 into the close on very high volumn. this is very bad news for Monday a.m. open. I see BTU opening Monday around $8.90 tomorrow.
plain to see who will be annihilating coal:
According to the U.S. Energy Information Administration, about 60,000 megawatts of coal-based generation will be closed by 2020, 90 percent of which will happen by 2016.
Altogether, the energy agency says that 1,308 coal plants had existed in the United States in 2012, when 10,200 megawatts were retired — 3.2 percent of the total. Those closures involved smaller and less efficient plants, although over the next decade, it expects larger ones to also shut down. Bottom line: Coal’s share of the domestic market has fallen from 50 percent in 2007 to 40 percent now.
U.S.-generated carbon releases are trending downward as a result. But at least one climate scientist who attributes global warming to man-made emissions says that scientists should not be making policy decisions — especially when the lives and livelihoods of thousands are at stake.
“Politicians have to consider the greatest good, both for their constituents and their local economies,” says Richard Muller, scientific director of Berkeley Earth and a physics professor at the University of California at Berkeley, in an interview. “These are very legitimate issues.”
still has about $3 to go before its right for the io market
coals been ganged up on and kicked in the face so much the feds, greens and media might as well throw in the kitchen sink insult.
should have waited for one or all of these 1) cc guidance 2) mid term election and 3) one or more of the competitors to file bankruptcy. all possible pos catalysts. its too close to give up now. gl.
wait on really bad news, if the stock doesn't move down or if it even goes up - its the bottom. i'm still on the sidelines here. i've made some of my biggest profits here trading on the china boom.
look, the so called "smart money" makes its profits by manipulating stock prices in wide fluctuations up or down. after all they can't make money when the little guy stops buying in at high prices so they'll cut the price in half and get them to sell after the smart money shorts. the victims being the retail trade that don't have a clue whats going on. retail gives its stock away by buying high and selling low or buying low and watching it sink lower, all based on emotions.
cramer hypes and his hedge fund buddies are reducing positions by unloading to cramers retail unwashed smucks. why more people can't see through this side show freak is beyond me.
it goes without saying that the coal sector is over sized for the new realities going forward. coal, will "right size" itself to the market demand. its automatic and can't be delayed or stopped. my bet is btu will survive and have control over pricing once this down sizing has run its course.
the entire market is in free fall and btu isn't immune.
yeah tim cook being the vulture. aapl will end up owning gtat for next to nothing, watch and see.
williams had a fairly good reason. he didn't want to look like michael j fox with his parkinsons disease.
just one question. what will happen to turn this around. aapl loaned gtat millions and when gtat missed production/quality on the sapphire glass aapl demanded prepayment on the loan forcing gtat into bk. Barrons has this on there website. gtat is gone.
look to join a class action suit. you may get $.10 on the dollar IF they win. this whole situation with gtat smells to high heaven.
don't expect to have a credit card or buy anything on installments. also a checking account would be hard to get so you pay everything in cash. it lasts about 7 years.
you can't write puts without first putting up 100% of the value in collateral. no broker would lend money on high risk trades without the 100% collateral, usually in cash or stocks.