Patriot Coal (PCX) NewsBite - PCX Rises on Higher Coal

Posted: Wednesday, December 17, 2008 11:57 AM EDT

Patriot Coal (NYSE: PCX) opened at $7.01. So far today, the stock has hit a low of $7.00 and a high of $8.10. PCX is now trading at $7.70, up $0.59 (8.30%). Over the last 52 weeks the stock has ranged from a low of $5.24 to a high of $82.22. PCX shares are rising with other coal stocks today, helped by higher coal futures. 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 March covered call above the 7.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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