oversold

RIV was oversold today as well as all the coal stocks around the world due to 13% coal price drop in Europe market as coal traders took profit.

I bet RIV will take a healthy recovery tomorrow, oil has broken US$146 tonight.

Some US coal stocks are upgraded to "buy" by financial institute today.

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July 3, 2008 7:50 AM EDT

Citi upgrades Arch Coal Inc. (NYSE: ACI) and Peabody Energy Corp. (NYSE: BTU) from Hold to Buy.

Coal benefits from structural change - Coal has benefited from structural change, with historically isolated/fragmented regional markets linking up and "going global." Mine shortfalls, transport constraints, thin stockpiles, and voracious BRIC-country demand suggest that this process has several years yet to run...Recent sell-off overdone - We see the recent 10-18% correction in the equities to be excessive, in response to a down-tick in European spot from records."

Citi also increases price target on ACI from $63 to $86 and on BTU from $69 to $105.

Arch Coal, Inc. is a coal producer in the United States. During the year ended December 31, 2007, the Company operated 18 active mines located in each of the low-sulfur, coal-producing regions of the United States.


Good luck!