I am hiding away in my basement, like a troll, typing away like a blogging gorilla doped up on meth.
Basic materials have bounced. ANR, ACI, and others, are ripping to the upside. Sterne Agee is out with a report citing coal demand is sustaining and increasing upon recent share gains at utilities and has done so every month since the April lows. Moreover, they feel the recent drawdowns in supply bodes well for pricing going forward. In a word: HORSESHITTERY.
As long as natural gas is selling for dirt nuts, coal is in the penalty box. Nevertheless, some of those names can springboard higher for a trade. To think, I sold ANR more than $2 higher just last week.
I’m still waiting for my fucking boat stock to reverse higher, OSG. And, let’s not forget, I am taking 4-D losses in this fucking 3-D stock. DDD is the future. However, the future is never guaranteed.
At the moment, I am down 1.06% for the day.