Keith Richards Market Vector Coal E.T.F. KOL-N WATCH Jan 04, 2013

Coal Miners Bottomed? Yes, but look at perspective. Look at KOL over 5 years, however. There has been a move off the bottom but has it bottomed? There has been two other bottoms for a couple of months. Thinks we are not there on coal. They are at 2009 levels so valuations are cheap. But coal is going to be phased out for power generation over time. Can you trade it? Sure. Put a stop under recent lows. Doesn’t like the sector.

Not all coal companies are created equal. TCK’s coal all goes to Asia so it is not a North American play. He doesn’t like coal particularly. It’s a dirty way to produce energy and gas is a clean way.

Coal has been a tough space for very long time. There are 2 types of coal, thermal for heating and metallurgical coal for making steel. Both are challenged. The market is just not there and it is running into resistance from an environmental standpoint.