ANR, daily
Summary
Almost another big 10% knocked off this stock...where is the floor? As noted repeatedly across the last few months, the coal stocks are on the leading edge of what appears to be a secondary major deflationary collapse wave.
ANR put in a new historic low today, with no prior history in these low levels, its hard to know where the floor is. Arguably, there should be support at each rounded dollar level, yet I'd guess only the $5 level will act as some kind of soft support.
So long as the coal miners are losing money on literally every ton they keep digging up...they are sadly digging an ever deeper financial hole for themselves.
