Paired trade w/ MEE
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I think a compelling investment opportunity exists in going long Massey Energy (MEE) and shorting Walter Energy (WLT) in equal dollar amounts.
Paired trade w/ MEE
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I think a compelling investment opportunity exists in going long Massey Energy (MEE) and shorting Walter Energy (WLT) in equal dollar amounts.
I personally know this gentlemand and he is a very honest as well as smart man who as you can see ventured from simply land developement into the current trends our economy is now facing. L/T HOLD Walter Energy, based in Tampa, Fla., formerly Walter Industries, Inc., is a leading U.S. producer and exporter of premium metallurgical coal for the global steel industry and also produces steam coal and industrial coal, metallurgical coke and coal bed methane gas. It also produces steam coal and industrial coal, metallurgical coke and coal bed methane gas. The Company, through its operating segments, offers products and services, including coal and natural gas, metallurgical coke, mortgage financing and home construction. Its segments include Natural Resources, Sloss, Financing, Homebuilding and Other. The Natural Resources segment consists primarily of Jim Walter Resources, Inc., Tuscaloosa Resources, Inc., Taft Coal Sales & Associates and United Land Corporation. The Financing segment includes Walter Mortgage Company, services non-conforming installment notes and loans that are secured by mortgages and liens. The Homebuilding segment includes Jim Walter Homes, Inc., which is an on-your-lot homebuilder.
7 week consolidation at 80 with strong support. Tripled earnings in 3rd qtr due to higher coal prices. Targeting 110 with near term move out of consolidation for a gain of 37%
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I think a compelling investment opportunity exists in going long Massey Energy (MEE) and shorting Walter Energy (WLT) in equal dollar amounts.
MAGE
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