Target $1.872, page-89

Maybe so, but not a great daily today. Pump and dump to some extent with a floor at 7.3 and despite a few attempted breakouts and the director buy in that’s where we finished.

Coal futures have been better this week, but a big night tonight to set the sentiment for Monday. If they stay green I expect the chartists will be positive about early signs of a floor in the price which oddly will be right where WHC modelled it at in last report (circa 200 US). A good prospective scenario is that the inspections being done in Chinese mines after the Mongolian collapse causes production delays or cuts, which might put pressure on the March futures. But then again you’d hate to be the party official that reports your mine needs to halt production for remedial safety work (if you’ve seen the Chernobyl series you’ll know where I’m coming from).

If futures go red it’s possible we see another leg down showing that the end of the falling knife hasn’t yet hit the ground.

YAL releases their divvi form early next week. Some of our rot today might be from ship jumpers given the hype, but who knows they may miss as well which might bring people back to the fold given our relative underperformance this week.