CNX Earnings

I was very wrong on the earnings analysis for CNX. I am very happy I took profits though.

The right thing to do was to take profits before earnings considering there was not much left in the option price anyways. That is always the right thing to do because it could have went the other way.

CNX

CNX - Earnings Report

CLICK HERE for full report

CNX

Consol Energy (CNX) - I closed the other half of my position for a 64% GAIN. I don't want to hang out through earnings on this one, especially after NSC report on coal shipments. I am completely out of CNX for now. Bought to close CNXQD @$.30

Norfolk Southern Q1 Earnings Call (37.37 ) -Update : Co says the recession continued to depress transportation demand, volumes were down 20%. Total coal revs fell 9% y/y, intermodal revs fell 25%, merchandise revs down 28%. Looking ahead, co says the auto and housing markets' bottom may be at hand. Co sees growth in scrubber stone, agrifuels, military traffic and waste products; sees weak metallurgical coal demand in U.S. and export markets, lower electricity demand, competition from natural gas. Co sees local domestic intermodal market growth, weak international shipments.

This report could be a tell of CNX earnings report. I have a position in Alpha Natural Resources (ANR) also that I may consider getting out of with a gain. If CNX's report doesn't effect the coal sector too much either way, I will consider writing more May puts for time decay income. I will keep you posted.

CNX

CNX - I will close the other half of my position by tomorrow afternoon. Earnings out on Thursday, Apr 23. I would rather take my gain, than risk it through earnings. I will post once I close the position.

See previous post: CLICK HERE

EPA News Article from Yahoo! News

I think this news from the EPA could be bad for coal companies and good for natural gas companies in the longer term since NAT GAS is a cleaner energy source. This could also bode well for solar stocks such as ENER.

I don't think it will impact our coal trades now.

CLICK HERE to read the news story.

Yahoo! News

CNX

CNX - Just a reminder. Earnings April 23. I think after their earnings, we could look for another entry into coal.

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CNX

CNX - Closed half of my position at (CNXQD) $.35 today for a 58% GAIN in 7 days. The reason I did that is because Peabody (BTU) another coal company is set to report earnings in the morning. If it is bad, it could bring the whole sector down. Just trying to limit risk.

ENER AMSC CNX ANR

Scale into your positions as the market goes down. I want to stay way out of the money because of earnings season and a possible downturn to SPX 790-800.

ENER - Still could see a pullback today into tomorrow.

AMSC - Waiting for a pullback to low $17's.

CNX - SOLD TO OPEN MAY 20 PUTS (CNXQD) - $.85 1/2 position. Already have a naked put in another coal company (ANR).