RE: RE: RE: Coal Conference"He has been on the show road for a long time trying to get us someexposure. It is crazy there were no takers. I'm disappointed that lastweek we did not see any significant buying."
Eodway,
The last couple of weeks have seen the equity markets on edge given the turmoil in the Middle East and the effect higher oil prices may have on overall economic growth. Although the markets have not experienced any major sell off to date, my read on sentiment is that many (primarily institutional buyers) are being much more cautious in any new buys and letting some cash build up on the sidelines. How things shake out going forward is anyone's guess. But as Mr. Lee alluded too in the VC, Asian investors understand coal and PCY is not currently traded in Asian markets.
That said, you never know. Institutional investors are an unemotional bunch where a presentation one week may result in a few buys weeks later.