InTheMoneyStocks Pro Traders Market Analysis

[ITMS]

Real Bottom or Dead Cat Bounce?


This afternoon, most of the leading coal stocks are trading higher on the session. The Market Vectors Coal ETF (NYSEARCA:KOL) is trading higher by 3.10 percent to $26.46 a share. This is the best trading session for the KOL since April 12, 2012. It is important to note that the coal sector has been very oversold on the daily charts and was due for a short term bounce. Traders and investors should not look at this rally in the coal sector as anything more than a dead cat bounce. This bounce could last for a few days to a couple of weeks. If the current low of $25.61 is broken on the KOL chart then traders should watch the $20.00 level as the near term daily chart support area. ...Continue reading here: http://bit.ly/K8u4RC