The coal miners, as well as the precious metals’ and global materials like CLF, are sustaining bounces for the first time in a good long while from extremely beaten-down conditions.
The Banjo Boys from down south, as well as Agent Starling’s one-generation-removed-from-po’-white-trash-in-West-Virginia, have been the butt of many a joke in recent years for failing to put in any type of good low.
But, into year-end, recent shorts may find that the joke is on them. Note that many of these miners are very heavily-shorted, which is great on the ride down but can also lead to vicious, snapback rallies.
I am starting out with some light positions in the coals and other miners. However, if the bounces hold into next week I will consider building positions.Twitter