Dow Jones U.S. Coal Index In April 2011 it was just over 500.00
Friday's close the lowest in 11 months at 222.49 less then half.
Surprising as iron ore has increased of it's bottom by 25% in the last 6 months and the demand for steel is forecasted to continually increase over the next 10 years. Iron ore plays are actually a good buy right now for long term. Coal will need to have production increase but it appears in the short term with the indexes falling and so the price, miners are mitigating costs/losses by shutting down hopefully to create a shortage of product with very little reserves to get the prices back up as they can't make money at these levels. CMK is a two year wait for this to all fall into place. Probably some day trading opportunities but short term CMK could test $1.15 again so the shorters will be alive and well at CMK come Monday. JMO