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If so, what are the prices of the two asset classes below suggesting about the likely winner of the upcoming U.S. presidential election? Or, am I reading too much into the tea leaves here?
For some background on our thoughts on coal, please see these previous posts here and here. Since our original post on the group all the way back on August 9th, the DJ Coal Index has risen 22% vs. only a 3% rise in the SPX – another excellent opportunity for material alpha. As of today, […]
On August 9th we highlighted how oversold coal stocks were, with the DJ Coal Index down ~75% from its highs in 2011. We noted that similar sell-offs in the past have led to material rallies in the group. With the DJ Coal Index up 13% since that original post (SPX up only 2.5%!) and having […]