Whole industry is waiting for this... Here is an interesting read..
Patriot Coal (PCX) has been grabbing headlines lately, and honestly has probably been the target of rumors simply because it is the weakest player in an industry which looks increasingly vulnerable to having a few players go under. The bankruptcy rumors most likely put a low in for these shares in the near-term, but it is easy to imagine shares testing those levels once again if the company cannot arrange financing which the market can be pleased with. When one looks across the industry, Patriot is one of the most likely candidates to bite the dust in a prolonged downturn. The company is one of the riskiest plays, but if timed right it may also prove to be one of the most profitable investments too. The key is to be waiting so as to pounce once it is apparent that the coal market has turned and the bankruptcy risk has been minimized.
It's all about that new finance deal that I think we will hear about before or on july 6th.
Those Bk rumors were BS, This company can easily be a buyout target for bigger companies sucj as CONSOL Energy or Walter Energy, Inc.
CHOOOOCHOOOOOO
Buy and Sell at your own Risk, Everything I post is based on my opinion only.
