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I like the risk/reward down here. Selling starting to look exausted, showing some support @ $4.20 last couple of weeks. Entire sector has been decimated and analysts/media continue to pile it on. Tells me bottom is close...jmo
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Alpha Natural downgraded to Sell from Neutral at UBS UBS downgraded Alpha Natural to Sell from Neutral and lowered its price target to $3 from $5 based on lower met coal price forecasts for the sector due to oversupply issues and the latest Q2 benchmark settlement that was lower than expected. The firm expects balance sheets to be stressed and cash burn to accelerate which could result in a 2016 liquidity crisis. http://www.theflyonthewall.com/permalinks/entry.php/ANRid1990500/ANR-Alpha-Natur al-downgraded-to-Sell-from-Neutral-at-UBS
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Hit $4.20's on Friday...Time to make the same $ again. Watching ACI here as we'll, would love a crack there @ the 50 MA (mid $4's).
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Metallurgical coal - used in steelmaking - was down from $US100.79 a tonne to $US93.63, with Whitehaven predicting $US91-$US92 this quarter. However positive price signs were emerging in that market with about 19 million tonnes of metallurgical coal output removed and more cuts likely to occur in coming weeks. https://www.mywealth.commbank.com.au/companies/whitehaven-shares-up-on-soaring-s ales-news20140715
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