One of the worst performing stocks sectors in 2012 has been the
coal stocks. Today, this important industry group is falling lower
again. The Market Vectors Coal ETF (NYSEARCA:KOL) is trading lower
by 0.38 cents to $23.22 a share. Traders should note that the KOL
traded as high as $26.39 a share on January 7, 2013 so traders can
easily see this gradual decline that has taken place over the past
couple of months. Short term traders should watch for intra-day
support around the $23.10, and $22.80
levels.
Some of the leading coal stocks that are declining this morning
include Peabody Energy Corp (NYSE:BTU), Alpha Natural Resources Inc
(NYSE:ANR), Walter Energy Inc (NYSE:WLT), and Arch Coal Inc
(NYSE:ACI). All of these stocks are negatively affected by China
economic weakness and the energy policies by the current U.S.
administration.
Nick Santiago
InTheMoneyStocks
