The only way to consistently make money in commodities is to swim against the current. When times are flush and everyone is talking about how the world has changed, look to sell. When times are awful and commentary suggests that the world is changing (against the commodity in question), think of buying. Although, Arch Coal (NYSE: ACI) has some legitimate operating challenges and the Environmental Protection Agency (EPA) issues could lead to a stagnant domestic market, this looks like the right time to think about buying good coal producers. (For additional reading, check out: How To Invest In Commodities. )
A Tough Third Quarter
If there was anything good about Arch Coal's third quarter, it was that management had told the Street not to expect much. So, it was a tough quarter, but not all that surprising.
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