A few general observations. Coal mining is clearly an oversold and underloved sector. While there is usually a softening of prices during the summer time, due to reduced demand, weekly charts reveal that this is not a seasonal softening - rather is is a sector crash. But truly, what is the alternative? Solar? The charts say otherwise.
Windpower? Unfortunately, not yet on a meaningful scale. And, no one likes nuclear--at least not enough to propose the construction of another major plant after Three Mile Island, Chernobyl, and Fukushima Daiichi. What's left? Hydropower? I'm all for that, but I don't see any offers on the table for dam construction forthcoming.
Many coal stocks are trading at a fraction of what they used to bring. Something to watch at this stage is whether hedge, mutual funds, and other big institutional investors are beginning to accumulate.
I try to keep track of fallen sectors by bookmarking their mini-charts on Stockcharts, and by watching related ETFs.
It has become increasingly common for many stocks tracked by an ETF to instead track the performance of the ETFs that hold them. This is more or less a recent development that has largely gone unnoticed.
When I use these candleglance charts, I generally like to monitor accumulation. Here is a reduced-in-size screen grab of how it looks here. Note that five of the six stocks shown are making bullish moves. LLEN has gone so far as to have confirmed a double bottom.
KOL and PKOL are the ETFs to consider, whether for investing in the coal sector, or for watching as a possible leading indicators.
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