October 22, 2009

STOPPED OUT WITH PROFIT OUT OF THE REMAINING $CNX (CONSOL ENERGY) POSITION AT $47. 81

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CONSIDER TAKING MORE PROFITS ON $CNX (CONSOL ENERGY) RIGHT HERE AT $48.50

Consider scaling out as the stock goes lower.

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TAKE PARTIAL PROFITS ON $CNX (CONSOL ENERGY)

We have been short on $CNX based on the coal shipment data. Our thesis has proven correct as this morning $CNX reported lower than expected earnings and volumes. In view of the generally bullish overall market and especially the commodities, consider taking partial profits right here at $49.30 and tighten the stop band on the rest

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