Re: Porn - Do you think this drops back under $2 or goes to $3?Re: Patriot Coal (...
I have no position now, But chances are it will go trade in range from $2-$2.50 until a deal to extend maturing debt. Which I would expect soon. The problem is coal is more bearish than solar. All the switching by power plants have switched to natural gas and will likely stay on gas fired plants and solar has gotten reasonable as a logical source of power after initial investment. Poor thermal coal will be the stepchild for a while as they are last on the "power generarion stack". Also, many companies like GEN have decided to close coal fired plants than to install expensive upgrades like scrubbers to meet EPA rules. So less coal demand. And Metallurgical coal that PCX does produce will follow the economy and slowdown across the world will mean less demand for met coal.
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