After the crack rally ended quickly with 4 down days following it, I became more cautious of this current bull market. Today seems calm enough though, however with the debt debates upcoming, I think it’s best to keep a neutral to negative stance.
Morgan stanley upgraded met coal today causing WLT to gap up over 8% this morning bringing along with it ANR and BTU +over 2%, however, this rally also faded as the stocks went into gap fill mode right along the 50 day ma and right under the rising trendline. This gave me a bad feeling so I sold all positions. Will look to act long or short based on future movement.
ANR sold 1130 @6.25
WLT sold 441 @14.42