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
18,710 Blog Posts

I LOVE COKING COAL

President Trump is firing on all cylinders — making America great again. Part of this plan is to boost our steel industry by imposing harsh tariffs on inferior and very evil (believe me) Chinese steel. By doing this, the price of steel can be great again and metallurgical coal companies can thrive.

Nothing says ‘Merica like metallurgical coal. It is beautiful, big, and definitely fantastic.

So, because I like the MUH charts, and because there is a fucking breakout underway, with steel stocks sliding like wet bodies on vaseline lined vinyl, I stepped in and bought some CLF here.

For the sake of my sanity, just know that all purchases are 5% weightings. If I buy twice, then it’s 10%. When a stock or a fucking volatility ETN blows up and goes to zero in the after-hours, I can only lose 5-10% of my equity — because that’s how adults invest. We do not partake in river boats gambles, unless the game in rigged.

Markets are +150, oil is strong, as well as dollars. You have no reason to complain.

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26 comments

  1. sarcrilege

    only filthy marxists and global cooling deniers are not going all gaga over beautiful coal.

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  2. bennyhill

    Shot I went 100% long KODK calls yesterday cuz Fly said to.

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  3. rangersfan

    Love the call

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    • walter2166

      I love the call too, but there is only one problem with the thesis – CLF doesn’t sell coal anymore – it’s all in on iron ore.

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  4. stockslueth

    I’m sure it will be down 20% by Tuesday on some CNBC hit piece. So I’ll wait.

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  5. juice

    in other news – they couldn’t nail Trump on the Russia fake news, so they brain-stormed and decided that it is still highly profitable to blame everything on Russia, hence this latest Russia scaped goated bullshit.

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    • sarcrilege

      Paging Vlad, nuke that filthy den of vipers in Washington/Langley/Pentagram/etc. – kangaroo trial of 13 innocent russians on deck.

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      • juice

        the dude is probably peeing in his pants laughing at our shenanigans

        one real story is the fact that they’ve been wasting tax-payer monies for nearly 2 years on fake trumped up Trump charges complete with lie after lie from our 17 not very intelligent intelligence agencies

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    • ferd

      I only wish we had leaders who were as intelligent and loyal to their country as Putin is to his.

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      • sarcrilege

        Vlad has his own 5th column to deal with in Russia too. Meanwhile, he’s taking over oil and gas in Syria. Israel’s head is to explode imminently….

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  6. mushroomz

    What happened to bernieshill? Get in here and tell us when Trump is getting impeached.

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  7. ferd

    Despite today’s USD move, these proposed tariffs are yet another factor that mitigates against the USD as a reserve currency.

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  8. bob smith

    Time to get into the FAZmobile at $10.58. Prepare for black Monday (no coal).

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  9. NON Solo

    Markets are closed Monday for PResident’s day

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  10. i_am_nemo

    Ticker HCC from my neck of the woods. Formerly Jim Walters Mines.

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  11. i_am_nemo

    Walter Energy (Birmingham AL based) was a conglomerate ranging from mobile homes to coal mines. They went bankrupt around 2015. From what I have heard their metallurgical coal is primarily shipped to Brazil. https://en.wikipedia.org/wiki/Walter_Energy

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    • moosh

      Interesting. Thanks yo!

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      • moosh

        Now I remember. $WLT at the time of the Chinese Olympics and all of the demand for ghost cities. One of my first trades was $ANR into skimming some off of that bubble.

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  12. i_am_nemo

    Correct. I didn’t think about the old ticker ‘WLT’ . Obama’s policies shut many coal companies down. The trickle down effect here was to strangle the barge company that hauled the coal south to Mobile. Maybe that time is over.

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  13. firehorsecaper

    Until better transport infrastructure comes on stream, coal may well be a better play than natural gas. When prices spike the market engages in switching from nat gas to diesel and coal. Dry gas producers can not compete with producers that produce nat gas as a by-product it seems. Under the current administration coal seem a safe bet for upside. JCG

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