Coal Stocks are Up 13% Since Our Last Post on the Group
On August 9th we highlighted how oversold coal stocks were, with the DJ Coal Index down ~75% from its highs in 2011.
We noted that similar sell-offs in the past have led to material rallies in the group.
With the DJ Coal Index up 13% since that original post (SPX up only 2.5%!) and having broken out from a bullish descending wedge pattern of late, we reiterate that the logic from the original post continues to apply today as well.