in general the wind has been at the shorters backs for the last 12 months with coal and oil price and global economic bad news at a frantic pace leading to a general atmosphere of fear that shorters thrive in.
That will change at some point. Looks like prices might have turned a corner. In that general backdrop LNC has not been able to deliver coal asset sale (and coal price was falling) and no UCG deal with oil prices falling and predicited to reach $60. The key to SP will be oil and coal prices and most importantly for LNC to get investor street cred with deals rather than media appearances and advertising.
The prices have turned, now for the LNC deals! Come on PB get it over the line by Christmas.
LNC Price at posting:
62.0¢ Sentiment: Buy Disclosure: Held
