Tuesday, May 29, 2012

From Sea To Shining JRCC

The smart ones got out at $8 something...

The bimbo ones averaged in again at $4 something after selling at $6 something...

Thank the Lord JRCC sells metallurgical coal, but I'm keeping the cash in my Roth IRA uninvested for now...

Bwahahaha spooooooky...

Thursday, May 17, 2012

If I Told You Who I Met On Tuesday...

... you wouldn't believe me!  It's hard to believe myself, but I had a brief meeting with a legendary investor.  

Still a bit in shock and when he told me to go into an annual meeting, I literally froze at the fear of having to present my proposal to him on stage or something.

Thankfully that didn't happen, but at least a connection was forged and in the biggest OMG way, he gave me his mobile number...

Mid-Knife Crisis

I definitely got filet mignon'ed on this JRCC trade.

The question is: will the bears take profit in May and go away too?  

I'm digging in my heels and still waiting for Chinese data to save me next week - not that it's likely, but I'll save it for the Confessional Booth.  

Thursday, May 10, 2012

JRCC (Again)...

Yesterday's bullish close on JRCC did not see any followthrough in trading momentum today and we closed both below yesterday's close and below the 50% daily Fib level - admittedly bearish signs.

PPI and Preliminary University of Michigan Consumer Sentiment are both tomorrow.  After that, no major news from the US until Tuesday, when we have Retail Sales and TIC Long Term Purchases, which means that the press will most likely be whining about European woes again...

We need good news from China or India to spin JRCC around, but the first major news release concerning China manufacturing doesn't occur until at least 23 May 2012!

One of the coal sector's major players, BTU is already trading at P/S below 1.  I'm keeping an eye on the $27-28 level on BTU to see what it does as it is nearing its 52WL.  If it holds, I'm going to think about averaging in to JRCC again in anticipation of a potential long term turnaround - something I have been wishing for for 6 long months.

Wednesday, May 9, 2012

Three Letters: OMG

You've got to be kidding me?  JRCC bounced around like a 10-year old brat today, knifing from $3.60 all the way to $4.29 and settling in at the $4.17 spot way above its 50% daily Fib level.

Money Flow looks about ready to explode to the upside on the 10-day 15-minute charts with strong support from volume.  

Are we finally going to reverse this MF Global bankruptcy induced commodities downtrend?  

Are we going to all be shouting "JRCC, take us up to $23" from rooftops all across America soon?

Who knows?  For now, the bulls are in control on JRCC, posting a +11.14% daily gain.

Tuesday, May 8, 2012

Throw Me In the Confessional Booth!

So this is what it feels like to be killed, knifed right in the back and then the market bottom.  

JRCC put in several days of losing streaks, but finally managed to close one cent above its 50% daily Fib level today.

I'm hanging onto a tree at the moment, one S&P or Moody's downgrade away from being excommunicated from the trading world.

This is what happens when you succumb to trading temptation against all logic...

For now, I'm alive, but very barely...  I'm praying my dear 9FM will have some trading fun in mind!

Thursday, May 3, 2012

A Girl Can Really Lose Her Glasses Trading JRCC...

Good news: JRCC revenues beat expectations.

Bad news: Loss per share widened some more, causing more financial casualties for my portfolio.

If you like opacity, they're going to stop issuing capex guidance, which could swing in their favour.  I've been accused of being shady one too many times not to admit I like the shadowy depths of an opaque market and the uncertainty it harnesses.  It's so FBI investigation.   

I'm wondering why S&P hasn't downgraded JRCC some more.  That would be the final nail in the coffin and a moment of such great pain signals a potential reversal of a long term trend.  This thing has been in a solid downwards slope for 5 years, breaking below the post-Lehman low by a good margin.

This time, I'm not throwing in the towel...  At least not yet!

But people will probably want to throw me in the Confessional Booth if it doesn't break above its 3 month trend in the deepest most contrarian way.  The one-year chart is already starting to look a little flatter with a shocking 55.1% of shares short.  

Wednesday, May 2, 2012

Took My Glasses Off @ $4.6593 And Jumped Into More JRCC...

Yes, I did!

And you heard it first...  But it's a smaller lot and given current prices, it's a risk I decided to take.

Earnings announcement tomorrow and I really couldn't resist bumping into this JRCC glass door one more time to see if the motion sensor will finally let me in to the doorway of profits.