KOL- Goldman is out cautious on coal this morning. They think supply will come to market faster than people think and as a result price will come in. A way to play this group short is via the Market Vectors ETF. This etf can be volatile.
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- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
5 comments:
goldman has been wrong on coal and cant talk the market down
they tried the same move two weeks ago and European coal prices (which are driving US coal prices up) have been steadily rising
trade working for now so we'll just have to wait it out-aci and the group are lower here-good luck
lol... your entry after the gap down isnt doing so hot
best of luck... you better take fast profits.. because coal company profits will skyrocket next year
a year? a year? this is a 1 to 7 day trade-dont be a hater-lol
the one year profits will translate into moves now.. as soon as this market stabilizes
your ACI short cant even be making you money one day later (considering it gapped down)
GS made the same call one month earlier and no one listened for more than one day... and now the market is telling GS that they are wrong (again)
the expert coal analyst at GS just got out of school in 2001, by the way.. he hasnt even seen a bear market
I suspect he was just helping Goldman talk their prop trading book... they got caught short when the fed rallied the market 400
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