Tuesday, 8 April 2014

BTU - coal miners bounce

With the US equity market seeing some moderate gains build across the day, the coal miners were a particularly strong sector, with BTU settling +2.2% @ $17.73. Near term outlook is bullish for Wednesday, but the mid/long term trend remains dire.

BTU, daily


A significant bounce, and break of trend, but with broader downside still expected into the early summer.

The demise of JRCC

JRCC filed for chap'11 bankruptcy yesterday...

JRCC, monthly

A farewell to JRCC...along with even more distant demise of Patriot Coal (PCX).

I just wonder whether any of the remaining miners will also go under before the next big commodity price bubble.