Will be interesting to see what happens. Stocks do not usually go straight down. Now many would say that is what has happened to WLT. GLTA
You are correct yet this move is just manipulation. In real terms with the debt we are accumulating countries as mention are doing deals that are not first put in the US dollar as in the past. This is just the beginning.
You would now need the stock to go up 75% just to break even. We are just beginning the correction that is coming to the market in the next couple of years. We may say everyone wants our money but we are kidding ourselves now. This is why North Korea and China, Russia and China, China and others are not doing business with the US dollar as the world currency. They do not want our dollar. We call them currency manipulators. You are watching the affects of a smooth manipulating president who shares in his speech's how employment is getting better, business is picking up etc. We are the manipulators who are going to reap what we have sown. 1:45 PM and another multi year low for WLT.
This is the big boys that went short earlier. Having a field day now because they have continued shorting. Earlier every pullback was a buying opportunity. Now a lot of folks holding the knife as the big boys push it lower. There is a reason the wall street firms make 100 million a day trading. They run the market.
It is not only coal stocks. The big money is shorting other sectors. Look at refiners today. They shorted at the top because they make the top and look what the last two days has meant to them.
New multi year lows again yet market at record highs. Looking for the teens. When the big boys get these stocks tumbling they are light tumbleweed. Went from over 100 to 12 in 4 months in 2008. Be careful.
As we can see not enough shorts covering so it continues down. The direction of least resistance. Government really wants to run most companies so is no longer business friendly. Will not be surprised to see lower prices this afternoon.
USA decision to continue printing money and not pay any debt really creates this scenario that commodities become much cheaper because in reality the dollar is worth less. So oil, coal, gold, silver etc. goes down. So what happens to these stocks. Look at gold stocks, silver, coal etc. In the toilet. Wait and see folks but this is just the beginning. This administration will be the final nail in the coffin for living beyond our means We have a society of entitlement politicians that will destroy the country as we know it now. We can continue to bury our heads in the sand but things are going to change radically in the USA. When the American dollar is no longer the currency for trade around the world there will be dire consequences for Americans. You do not need to be a rocket scientist to see that the path Obama, Ben and Tim are taking the country is not going to work. Eventually the commodities will become much more expensive when a new currency comes in. They may be keeping the stock market up now with financials leading the way but it will not last. Happy trading.
Things have changed. The big boys are shorting this with volume. The need now is for them to do some covering. There is more negative press out regarding WLT and their debt. No one is coming out in support like they were before. It is falling faster and with more volume. We have had CLF lower their dividend substantially because of their debt situation and the stock price has taken a big downturn. That doesn't mean that it can not move back up some but it is difficult to see this getting back to 28+ anytime soon. Of course the big boys may decide differently and for longs I hope they do.
Wait until they flush this market. The teens will come very quickly.Of course they could cover some and take it back to 26 before it makes a lower low. I just covered here at 24.80. Have no idea what they are going to do into the close. i have made a nice profit for the day and will wait again for another great day tomorrow as i enjoy the evening with my wife and grandkids. This way I do not have to be concerned what happens after hours.. May you all have a great evening.
It has been very easy money as they pick a sector so they just keep taking them down. WLT is a great example. They just pulled off the offer and let it jump up 20 cents then went back on the offer. They are in total control of what will transpire. You will have to figure out what game they are playing today.
The sad thing for many is they have their money in mutual funds. Mutual funds are forced to liquidate with the selling of stocks like WLT and CLF. This just exacerbates the problem. Goldman and their crew can short more and take it lower and then cover with the shares that the mutuals have to sell. Consequently there is no bounce. They sit there and exchange shares with Goldman ringing up the cash register. I admit that i make money following their trading but many are not in the market full time and they get taken to the cleaners. Be careful out there because the market has become a mine field that takes no prisoners.
Do think that many should take all their money out of the market and let these crooks take each other's money rather than the retail investor. So many folks losing so much money. i now have nothing invested in the market. Have a few hundred thousand in a trading account and seldom hold for more than a day or two. Investors are who these crooks are looking for. JMHO After the next market crash I will invest again.
Is becoming a little serious. Only way this goes up is if shorts cover then go long to make some money on the long side. This they often do as they do not usually take it straight down. They can take it down for long time as folks who thought they had a deal at 30. Back in 2011 folks thought they had a steal at 70.
The government puts their monopoly money in the banks, medical plans and services.WLT isn't lobbying for anything. They have no money to pay the government off. Look out below.
Same thing that is happening all over the USA. Too much debt. Ben can print money because the paper doesn't cost anything. You have to pay with real money. Only the government can use monopoly money.
Where does this money come from? We will bail out the banks. Who pays? The poor. Who gains? The rich.
This is an ongoing theme in the USA. This has even become worse since the first black president has arrived. He has become caught up in the entitlement program of the whites. A man that said he would bring change. He is even worse than the phony white people. It is true that it does not matter your color it is your character that counts.