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Friday, February 29, 2008

Bookkeeping: Adding Coal Exposure

Posted by Mark at 11:55 AM TweetThis
Traders market... all of these names are in nice uptrends but have pulled back in past 2 sessions, so I am beginning to re-expand positions, and buy back shares I sold off of late. $5-$6K type of additions to all 4 of my primary coal names
  1. Peabody Energy (BTU)
  2. Consol Energy (CNX)
  3. Massey Energy (MEE)
  4. Arch Coal (ACI)

Wishing the fertilizers would pull back more - solid as a rock...

Long all names mentioned in fund; long Massey Energy in personal account


Posted by Mark at 11:55 AM Comments (2) | Edit This Post | Create A New Post

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2 comments:

geckojb said...

Been following FTO that you like and it's held at support fairly nice in fact all the refiners have. Cautios on them for all the reason you mentioned but they do seem to offer a low risk entry and stops are fairly easy to identify. I might take a nibble.

February 29, 2008 12:32 PM  
TraderMark said...

Yes I think the "playbook" says to buy them late winter so people are doing it; so much just seems done on the playbook i.e. why the retailers, homebuilders et al are being bought expecting the playbook to say economy rebounds by late summer. I like FTO the best as I said, but when I see an earnings report like WNR just reported it is pathetic. If gas gets up to $3.50-$3.75 I can see them making some money but with oil continuing up and no end in sight in my opinion especially with trashing of dollar hard for me to get too excited. I do have a link in left margin for crack spreads so you can watch there to see if they widen. That would be a good sign. I've been perplexed why gas has not been $3.50 for past 6 months... not sure what refiners are doing or why they continue to take it in the shorts. Crude at $90+ should mean gas near $3.50. But they havent moved prices up. Been scratching my head on that for half a year.

February 29, 2008 12:46 PM  

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