My latest column is out at equities.com. Click here to read it. It’s all about the headwinds coal faces, which include:
Edited out of the piece were a series of exhibits, which I’ve attached here.
Despite my vocal opposition to coal stocks, as a twitter follower points out, I am still long Rhino Resources (RNO), but that is a short term trade that has some downside protection based on the Utica acreage it holds. For me, that’s not a bet on coal, but a bet on coal not being too terrible while Utica acreage gets monetized for a surprising amount.