Monday, July 24, 2017

Alerting To A Profit Setup: Coal Stocks Signal Bounce

There is money to be made and I intend to make some. Being long the coal stocks for next week is where the money appears to be lurking in an otherwise poor market. This is due to the strength we are seeing today in stocks like Cliffs Natural Resources Inc (NYSE:CLF), Peabody Energy Corporation (NYSE:BTU), Walter Energy, Inc. (NYSE:WLT).

Paying College Athletes Essay Research Paper Over the previous few weeks, these stocks have traded far weaker than the general market. However, we are seeing a turn today. The coal stocks are mostly flat to higher while the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is trading at $162.25, -0.87 (-0.53%). In comparison, Cliffs Natural Resources is trading at $17.56, +0.06 (0.34%).

This is known as a turn and occurs when weak stocks that have dropped significantly make a turn, now stronger relative to the stock market. It usually signals an impending bounce in the sector, especially on any stock market bounce.

Gareth Soloway<

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