Whilst the broader market saw minor chop across the day, there was once again another bout of significant weakness in the coal sector. Alpha Natural Resources (ANR) and Peabody Energy (BTU) settled lower by -2.8% and -1.6% respectively.
Suffice to say, the broader down trend continues, and the coal sector stocks remain some of the hardest hit since commodities saw a secondary peak in early 2011.
I've little doubt BTU will be fine for the long term, but I have serious concerns about ANR, even though it is a relatively large company.
Worse still, ACI and WLT, both of those look set to implode within the next year or two.