Hi glyco,Thanks for the article.To quote from the article "It's...

Hi glyco,

Thanks for the article.

To quote from the article "It's a correction and not a big deal," he said. "Nothing has changed in the global coal picture." "We are telling people now is a good time to buy."

DYOR&DD

Cheers,
Brantley

Some good points from the article:

"It's a correction and not a big deal," he said. "Nothing has changed in the global coal picture."

"We are telling people now is a good time to buy."

Sentiment was mixed but some players were using the decline in the sector as an opportunity to enter bullish option trades after a long awaited pullback.//

http://www.nbr.co.nz/article/pike-river-hit-coal-mining-shares-tumble-32727

Section from the article:

//

The correction was long overdue, traders said, because prices have risen sharply and steadily for the past few weeks. Prices stabilised around $US2 below physical levels at the close in London.

The Dow Jones coal index was down 13.83 percent in New York overnight.

"We have been waiting for a correction for months," Calyon Securities coal industry analyst Gordon Howald said, adding that some US coal company stocks have risen between 40 percent and 60 percent since May 1.

"It's a correction and not a big deal," he said. "Nothing has changed in the global coal picture."

Mr Howald said that what prompted the correction was the refusal by some Asian utilities to pay $US220 per tonne for steam coal, which was selling for $US170 last week.

"So it corrected down to $US200."

Jeremy Sussman, a coal industry analyst with Natixis Bleichroeder, said US coal producers have been signing contracts "at very good numbers, well into the triple digits, but the stocks don't reflect that.

"We are telling people now is a good time to buy."

Sentiment was mixed but some players were using the decline in the sector as an opportunity to enter bullish option trades after a long awaited pullback.//