Coal Turn Signals Impending Bounce
Nicholas Santiago | Jun 12, 2013 01:48PM ET
There is money to be made and I intend to make it. Being long on coal stocks for the next week is where the money appears to be lurking in an otherwise poor market. That's due to the strength we're seeing in stocks like Cliffs Natural Resources Inc. (SPY ) is trading at $162.25, -0.87 (-0.53%). In comparison, Cliffs Natural Resources is trading at $17.56, +0.06 (0.34%).
The Turn
This is known as a turn and occurs when weak stocks that have dropped significantly make a turn, now stronger relative to the stock market. It usually signals an impending bounce in the sector, especially on any stock market bounce.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
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