Monday, January 31, 2011

Alpha Natural Resources to purchase Massey Energy

As many of you know Alpha Natural Resources has an agreement to purchase Massey Energy. Massey is one of our biggest coal holdings. I believe bulls win bears win but pigs go broke. We could probably wait and get a little more for our shares, but I am selling mine at the first opportunity. The deal from Alpha is worth $69 per share. We started buying MEE at $16. I think its time to sell. Reco: Sell MEE at first available opportunity and close position. Good trading.

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