Time for the Bad Boys in Energy to Have Their Day

Uranium is a sector we wrote about and played for Members earlier this week on the long side, as the URA ETF flirts with breaching $14 upside to set in motion a confirmed bottom. CCJ was my preferred way to play uranium on the long side, and I may very well revisit the relatively larger cap, liquid uranium miner in the near future if the current consolidations stays fairly shallow. 

In the meantime, let us turn to another niche within the broad energy complex which also has a stigma, not unlike uranium. Actually, coal is probably seen as much more of a bad boy, for a variety of reasons. 

Nonetheless, Suncoke, below on the daily chart, is intimately connected to steel industry as it focuses on cokemaking. We can see how tightly-wound the chart is, threatening a burst over $12 to sustain a fresh breakout. CEIX is another coal play worth researching, too. And we know the current Administration is highly unlikely to come out swinging against coal in virtually any form, for now. 

As for the broad market, bulls are fighting back hard from the depths of the morning selloff. We still have a few more hours to gauge positioning into tomorrow morning's jobs number, but I am staying opportunistic for fresh plays across all sectors and asset classes. 

And that makes coal all the more appealing here, notably SXC.