@borano - Therefore inversely at some stage it becomes a buy - also because of it's cyclical nature. Are you expecting further erosion in the WHC SP and depressed coal prices for years?
I dare say any potential inflows from funds cyclical rotations out of banks and tech (who's dividends are currently depressed through SP outperformance, and also risk capital stagnation or decreases due to extended valuations) will be looking beyond the March quarter, and also understand that contracted coal sales are not sold at spot. Some of which I suspect we may have seen today with net outflows from banks and tech, but net inflows to depressed miners with pretty healthy balance sheets, decades of resource, and who are paying dividends (like WHC and YAL).
And again I think we are confusing trading with investing, traders will no doubt be interested in the day-to-day movements in spot coal price, investors will look at the companies overall health, mine resource, sector macro outlook, and managements competence (among other things). And with that in mind I'd rather be a buyer in the $5's than a seller in $5's.
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