Gordon Reid Market Vector Coal E.T.F. KOL-N DON'T BUY Jan 29, 2014

You don’t want to buy this yet. Had a big long downtrend that was broken and has formed a very long sideways rectangular period. If it breaks out, somewhere around $26, it could be very strong to the upside.

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.