Last Saturday we discussed CKF following a subscribers question, our conclusion was fairly straightforward but last week’s price action reiterates a current market characteristic that’s been fairly dominant throughout 2022:
- On Saturday we said, “We’re still not big fans of CKF even though it dipped under $8 this week”.
This has been a tough year for many investors as they’ve failed to recognise the change in stock/sector fortune as interest rates surged higher plus importantly equities have lost their “Bull Market” characteristics, one standout has been the lack of buyers into weakness for stocks that miss earnings/revenue expectations, the winning formula has simply been if in doubt stay out, something we believe will be repeated through much of 2023 – CKF has been another great example of weakness following through for companies that disappoint the market.
MM is neutral CKF as it approached $7
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Coal Futures Newcastle Active Contract $/tonne (XWA)
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Coal Futures Newcastle Active Contract $/tonne (XWA)
