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.
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...
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.