JRCC, daily
Summary
JRCC lost almost 25% today, and is very much looking - at least from a chart perspective, like PCX has in recent days. That is not to say that JRCC is about to implode imminently, but its not looking good. I do not expect this company to be around for more than a few more months.
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meanwhile..the other coal companies (and indeed broader mining sector) are again getting smashed lower...
BTU, daily
FCX, daily
Both FCX and BTU are superb companies, but as repeatedly noted, they are both set for further declines, perhaps as large as 25%. The support/resistance levels are clear, the price targets are clear, and with the market set to fall to at least sp'1200 in the next few weeks, the miners are still looking dire.
