Massey Energy Accident Pushes HAL9000 to Run into Chinese Coal Producers
I'm keeping a handful of smaller Chinese coal producers on my radar as potential investments; due to their size (300M and 175M market caps) I have not jumped into either but the Massey accident seems to have triggered the algorithms to jump into L&L Energy (LLEN) and Puda Coal (PUDA). (volume on the latter compared to normal is immense)
I've been watching LLEN for about 5 points now without jumping in... starting to gnaw at my fingers...
At first I thought it was a "Chinese" thing but since Yanzhou Coal (YZC) [$12B] is doing nothing today (-1.25%), it looks like a speculative algo thing....
p.s. I hope all readers made it through this morning's traumatic selloff (-0.3%) in the S&P 500 ok. I know it was a scary time for everyone involved but the market seems to be back to it's normal "up or sideways only" action. Glad to see things are back to normal... I had to be talked down from the ledge...
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