Tuesday, 29 July 2014

ANR, BTU - coal miners trying to breakout

Whilst the broader market saw some moderate price chop, there was noticeable strength in the coal miners. Alpha Natural Resources (ANR) and Peabody Energy (BTU) closed with very significant gains of 9.9% and 2.7% respectively. Near term outlook is bullish.

ANR, daily

BTU, daily


Suffice to say...interesting daily gains, but.. the multi-year trends remain extremely bearish.

*I will only consider picking up a few of the miners after the next multi-month down wave, which will probably not be until next year.