Bookkeeping: Restarting Alpha Natural Resources (ANR)

By Trader Mark
18 March 2010 @ 02:18 pm EDT

We've been discussing coking coal a lot of late, and when I sold Potash this was one sector (the other being iron ore) I wanted to offset that sale by going into.  However, the stocks involved have simply been on fire, and most days you have to chase just to be involved.  Of the major met coal stocks, Alpha Natural Resources (ANR) is the one that has lagged a bit, and is now the closest to a support area so I will throw in the towel and "kind of" chase it here around $50.50.  I am beginning with only a 1% allocation - I'd rather buy more in the $46 to $49 range but at this point it's a victory to buy anything even at the 10 day.

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