Patriot Coal (PCX) NewsBite - One of Today's Top Gainers So Far

Posted: Thursday, November 13, 2008 2:39 PM EDT

Patriot Coal (PCX) leads the list of top gainers so far today and is now at $9.71, up $.44 (4.75%) on volume of 2,582,233 shares traded. Over the last 52 weeks the stock has ranged from a low of $9.27 to a high of $82.22. Patriot Coal stock has been showing support around $7.67 and resistance in the $12.47 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for PCX. If you are looking for a hedged play on PCX the stock seems like it could be a candidate for a December out-of-the-money bull-put credit spread below the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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