Bullish Technical Breakout Alerts (NASDAQ:NCOC), (OTC:BIEL.OB)
Miv Investments Inc. has initiated an independent bullish technical trading alert for 11/10/09 on National Coal Corp. (NASDAQ:NCOC) and BioElectronics Corp. (OTC:BIEL.OB). BioElectronics Corp. gained tremendous buying pressure leading into market close, and National Coal Corp. saw its shares rise 7.62% within after hours trading on high volume.
About National Coal Corp. National Coal Corp. is engaged in mining, processing and selling bituminous steam coal from mines located in East Tennessee and North Alabama and, until March 31, 2008, in Southeast Kentucky. The Company owns the coal mineral rights to approximately 65,000 acres of land and leases the rights to approximately 17,700 additional acres excluding the Southeast Kentucky properties, known as Straight Creek, sold on March 31, 2008. As of December 31, 2008, its mining complexes included three active and two inactive underground mines, one underground mine in the development stage, one inactive and six active surface mines, and one highwall mine. In addition, it had two preparation plants and two unit train loading facilities in Tennessee served by the Norfolk Southern (NS) railroad. It holds seven permits that allow it to open new or re-open existing mines close to its operations. As of December 31, 2008, it controlled approximately 40.8 million estimated recoverable tons of coal reserves.
Recent News Regarding the Coal Industry
Coal prices are indeed destined to go higher as they follow the rise of ‘coal currencies’ such as Australian Dollar (AUD), South African Rand (ZAR) and Columbian Peso (COP). Strong emerging market demand is also pushing up prices although it may be limited by abundant stocks on coal producing countries. The BofA Merrill Lynch Global Report on energy pointed out that many “oil currencies” including UAE Dirhams (AED) and Saudi Arabian Riyal (SAR) are pegged to the US dollar, but coal exporters tend to keep a free float therefore currencies linked to coal have outperformed both their emerging market and G-10 peers. Source found here
The full special report on these two companies appears today at http://www.stockshaven.com/bullish-technical-breakout-alerts-nasdaqncoc-otcbiel-ob/
Disclosure: Long NCOC and BIEL
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