iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
15,623 Blog Posts

I’m No Longer a Coal Man

If you bought ANR or any coal stock based upon a looser EPA, thanks to a potential Romney win, you must sell coal today. You must sell, not because the share price is doomed and it’s going lower–but because the catalyst for higher share prices is gone with the Romney defeat. This is the crossroads between making it a trade, based on a strong catalyst, and making it a longer term investment based upon stubbornness.

I made a ton of money in ANR over my past two trades, not this one.

I booked the loss this morning, market orders, not giving a fuck about where it was trading–because my initiative has been lost.

Also, I sold out of DECK, as promised, taking advantage of the post earnings dead cat bounce.

If you enjoy the content at iBankCoin, please follow us on Twitter

31 comments

  1. acehood

    Coal is an interloper (no Mellon) in Obama’s grand plan (no political talk).

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  2. Raul3

    So someone has some cabbage burning a hole in their pocket…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  3. clegger_2000

    VHC real nice call. The time machine touch screen seems to be properly calibrated.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  4. slimtrades

    Yea congrats to you guys on VHC, I just couldn’t stand the binary nature of it and have been in too many IP lawsuits to ever trust the outcomes. But I REALLY REALLY wanted to say congrats To Fly Devil Mr. Chuck and all others involved.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  5. joe

    WLT has a 4 month base goin on

    with past rumors of someone buying this coal name, its stayin on my radar

    bottom line, its doin well technically

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  6. lol

    Now, will Bernanke stand down anyways as rumored?

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  7. asteroids

    $SPY has gone nowhere in 10 days. Just a slow speed computer driven meat grinder.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  8. 4fl3x

    Here Comes the Boom!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • joe

      i want my flash crash !!!

      (and my flying cars..they promised me flying cars)

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • lol

        Flying cars aren’t economically feasible for companies until government finds a more efficient way of utilizing the airspace, or else chooses to embrace the chaos and accidents that may happen if it’s not regulated. (no political talk)

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  9. Cascadian

    Selling everything with a good 1 year chart. People with LT gains will be selling that shit before end of the year. Buy back in January if it’s all that good.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  10. The Eye-Talian Stallion
    The Eye-Talian Stallion

    Smart move on ANR, especially if the EPA will not issue any licenses for new coal fired plants. In this case diesel engines will have to do the work.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • The Eye-Talian Stallion
      The Eye-Talian Stallion

      Look at that RGR…

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • republicat

        Damn!
        For every $VHC there was a $ESRX
        For every $RGR there was a $LMT

        Jogging in place, making online brokers rich

        • 0
        • 0
        • 0 Deem this to be "Fake News"
        • republicat

          Make that jogging on a downhill street in San Francisco

          • 0
          • 0
          • 0 Deem this to be "Fake News"
          • The Eye-Talian Stallion
            The Eye-Talian Stallion

            AR-15’s and high capacity mags are on the shopping list, fuck stocks. I’ll come back after the market bleeds out.

            • 0
            • 0
            • 0 Deem this to be "Fake News"
  11. Trading_Nymph

    Chuck B..The Strong Dollar, Weak Oil Thesis is working.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
    • The Eye-Talian Stallion
      The Eye-Talian Stallion

      I would like to see the commodity index at June levels….

      • 0
      • 0
      • 0 Deem this to be "Fake News"
      • Trading_Nymph

        Buzzard is up again, ECB, BoE on hold so far, China Govt doesn’t have money truck coming…We should be at June levels..and lower.

        • 0
        • 0
        • 0 Deem this to be "Fake News"
  12. Language Dork

    Moly (MCP) taking a thumping this morning. Too risky to hold into earnings tomorrow.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  13. noodleboy

    I’ve decided I hate the fucking stock market. I’m not even going to look at it as a stock market anymore. Rather I’m just picking up seashells, on the beach, like a fucking beach bum.
    This is the new age of humble noodle.
    A beach bum is not entitled to offer anyone advice, ever, and this is my fate.
    Good day.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  14. TheOSU

    Fly, fly , fly , I wish you would learn to ask on these matters privately .

    My well placed sources are expecting several favorable announcements on coal in the next few days . As you know , my firm was a huge seller of calls the last few days and we just finished repurchasing at oobviously a monster profit .
    This sell-off has nada to do with
    our elections……..this is Draghi being misunderstood ..

    Jeezus , the last few times your
    people have called I have been more than gracious .

    Buying coal is going to be a wonderful trade .

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  15. Sspiff

    I despise coal. long live rainbow unicorn power!

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  16. Rollo Tomasi

    Forward

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  17. illuminated1.

    Black (no coal) Wednesday… mwahahahahaha

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  18. TMoe

    We will dance as the palaces burn

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  19. ruggyup

    One can no longer be any kind of a man let alone coal. We are emasculated and the Dow in major retrograde must give fond memories to the morons who made vast sums of coinage over the last half decade and credit that to the Supreme Leader. Greetings, supine vassals.

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  20. The Eye-Talian Stallion
    The Eye-Talian Stallion

    EXK is the new ANR…

    • 0
    • 0
    • 0 Deem this to be "Fake News"
  21. (too late to) Raise taxes, Raise spending
    (too late to) Raise taxes, Raise spending

    How will this affect pipeline stocks. TransCanada is down this morning.

    • 0
    • 0
    • 0 Deem this to be "Fake News"