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Does Coal Have Farther to Fall?

Posted By: Todd Salamone 10/03/2012

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The Market Vectors Coal ETF is Looking Vulnerable
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Trader Comments

Ryan Detrick:

What's amazing about coal here is according to our database, the coal sector has 53% of its total analyst ratings a "buy".  That isn't the highest sector, but sure isn't the lowest.  To me it says this sector looks weak technically and way too many are still trying to pick a bottom.  Fade it for lower prices is my take.

Tony Venosa:

One thing to keep in mind when looking at the individual components that make up KOL are the enormous increases in short interest during the past 6 months.  For instance, the two biggest weightings that make up the KOL etf are BTU and CNX, with a 200 percent and 100 percent increase in short interest respectively during the past 6 months.

Chris Prybal:

From an option Open Interest sentiment perspective, KOL has a "call wall" immediately above share price concurrent with the declining technicals. In fact, Call Open Interest outweighs Put Open Interest by about seven-to-one and is close to being the most lopsided readings of the year http://www.schaeffersresearch.com/streetools/indicators/open_interest_configuration.aspx?TICKER=KOL

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