ICO - Coal stock with a big short

International Coal Group, Inc. (ICO), a coal miner in the northern and central Appalachia and the Illinois basin which we featured to subscribers last week in our Chart of the Week, scored a high volume short squeeze surge breakout again on Friday in the face of a weak tape.  Stocks trade up in poor tapes always attract us as it is on these days it would be very easy for buyers to step away.  With almost 22.00 % of the float short ICO has a big liquidity catalyst to propel shares higher and the coal sector has been red hot of late. The point and figure target for ICO shares is $ 9.25 giving investors a nice percentage return if the target is reached from present levels.

 


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