One of the worst-performing stocks sectors in 2012 was coal stocks. On Tuesday, that important industry group fell yet again. Just before the U.S. market close, the Market Vectors Coal ETF (KOL) was trading lower by 0.58 cents to $23.02 a share. Traders should note that KOL traded as high as $26.39 a share, this year, on January 7, so they can easily see the gradual decline that has taken place over the past couple of months. Short-term traders were watching for intra-day support around the $23.10 and $22.80 levels.
Blame It On China And The U.S.
Some of the leading coal stocks that have been taking a hit include Peabody Energy Corp. (BTU), Alpha Natural Resources Inc. (ANR), Walter Energy Inc. (WLT) and Arch Coal Inc. (ACI). All of these stocks are negatively affected by China's economic weakness and U.S. energy policies.
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Once Again, Coal Gets Slammed
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