The SI as of August-31st, 2013
Float Size = 62.5 M
Previous Period SI = 26,422,058
Current Shares Short = 21,916,102
Decrease in SI = -4,505,956
% Decrease = -17.1%
SI as % of Float = 35.3%
Days to cover = 3
Shorts have finally started to cover in bigger chunks. It is trading well above it's 100 dma and will make a run at the 150 dma. I wonder if this momentum continues where will more shorts start throwing in the the towel. My guess is that may highs of $20-$21 to be tested soon.
They had the debt on their books for a while and did not bother anyone when the market was on coal high. An acquirer would pay for the assets and future earnings potential (If they feel coal is bottomed). I wouldn't rile out a 2X-2.5X the book value as a fair takeover price ($30-$38 PPS) But, the question whether the SH would approve such a deal and that would be the big issue stopping the likes of a BHP, Anglo or anybody else from doing it.
WLT has done everything right from a technical stand point.
Moved above 100 dma intra-day and closed right at it. The long term down trend has been broken and a follow though tomorrow will seal the deal. it is def. poised to move tot he $16-$18 level if it continues the momentum tomorrow.
50 dma has turned up and every technical signal points a higher move. Still a little intriguing that insiders did not pile on to the stock and they have about 2-3 trading days before the blackout period.