Hey, I spent several summers with family in Pittston PA
and uncles that died of black lung. Last year I owned a
bunch of Oxford Resourse Partners LP at $17.50 and it
dropped to $4 when power companies broke their contracts
for coal. It was not only cheaper to switch over to gas, IT
WAS CHEAPER TO GET SUED BY OXFORD, AND, SWITCH
OVER TO GAS!! I averaged down to about $12, the stock
closed Tuesday at $7.56, but I'm not buying any more as
I have a years retirement pay in it. It will come back, as it
does not have any debt to speak of, and that is a whole lot
different than the case with PCX..
So I got coal in my blood, and a whole lot of money now in
PCX too! But rootin' for the team is not going to change
where this country is headed with the EPA under direction
to destroy the coal industry so the environmentalists can
save the planet with their renewables. And everybody and
their brother is frackin' their butt off so that they have run
out of places to store the stuff.
I will watch this like a hawk and try and get in when financing
gets fixed, but smart traders know what can happen if it
doesn't. Hope you all get lucky this time around.
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