Mining sell Off- Short UK Coal

There seems to have been a big sell off on the basic resources stocks today.
Anglo American 1488.00 -104.00 -6.53%
Antofagasta 384.50 -36.75 -8.72%
BHP Billiton 1192.00 -66.00 -5.25%
EURASIAN (WI) 303.75 -24.25 -7.39%
FRESNILLO (WI) 185.80 -9.70 -4.96%
Kazakhmys 234.00 -8.75 -3.60%
MONDI 195.25 -1.75 -0.89%
Rio Tinto 1470.00 -59.0 0 -3.86%
TALVIVAARA (WI) 111.00 -5.75 -4.93%
UK Coal 92.75 +0.75 +0.82%
Vedanta Resources 613.00 -52.00 -7.82%
Xstrata 663.00 -65.00 -8.93%


I do however see a selling opportunity in UK coal. It is going in the "wrong" direction and it is not really a good company. Coal is not really the forefront in green energy. I have been following it for a while, looking at its figures, and I think today is a good entry point.
Harworth Estates another one of their ventures is a property project. Again not the best of things to be diversifying into, the valuations will probably fall in line with the rest of the market. Their main business the mining operations are in fact money losing, their operating loss is £25.7 million on deep mines.
From a technical perspective, they are overvalued in terms of their short term moving average, in relation to the energy sector as whole they are unusually overvalued.
So from both the fundamentals and technical s I am entering a short trade with a stop of 98p and a target of 55p.

Only question is....


why are they unchanged when the others have dropped like a stone?

I'm sure I heard on the radio recently that UK Coal were going to re-open some mothballed pits as they were now economically viable. So much for green energy1

we nearly saw levels of 88p hit, but its come back up a bit. I think I am going to short some more now

entered with average price of 92.25p now at 88.75 looking for levels of 55p to get out

downward trend forming

Bring in the bears, 86.00 seen and falling

83.00 seen and falling

Very good predictions, just one question if you don't mind, what resources informed you of 'sell off on the basic resources' such as coal?

Thank you

sorry i meant sell off on the companies at that time, not on resources themselves, but on the basic resources companies

if it gets to 87p gonna short another 5000

shorted another 5000, if gets to 90 its crucial to short some more

Whoops!