Today sounds like a big victory to some people who don't hold...

Today sounds like a big victory to some people who don't hold MCC. The same victory did happen to them when RIO hit low $30s and FMG hit low $1.

MCC get punishment today, which share price falls 43 cents below net asset value. Actually MCC have a much better situation than RIO and FMG, which have huge debts in their balance sheet.

How about other coal stocks? They just don't make an announcement about product cutback, maybe cutback is in progress. The producers are cutting their product, the juniors will be more worse facing on going projects with limit budget in this credit crunch.

Even the hedge loss may eat up all MCC 2009 profit, I think MCC will learn a big lesson from its bloody loss, like myself from this terrible market for long term investment.

The future of MCC will be brighter than many other coal companies due to positive cash flow, low debts and compitent of Management teams. Quite a few of them bought MCC at $3.89 recently other than sell MCC before today announcement.

The sellers in today's market will be a losser. I bet most selling are coming from short sellers, and some share holders may meet margin calls.

Cheers