Dennis Gartman Recommends PGH, SJT, CHK, DVN, FAX, JRCC, ACI
Weather forecasts from AccuWeather suggest that we can expect one of the coldest winters since 1985. Cold weather is threatening US, Great Britain, China and others and could hurt crops and livestock.
Dennis Gartman said on CNBC's Fast Money that the right trade on the weather forecast is natural gas and coal play. He recommends Pengrowth Energy Trust (USA) (NYSE: PGH), San Juan Basin Royalty Trust (NYSE: SJT), Chesapeake Energy Corporation (NYSE: CHK), Devon Energy Corporation (NYSE: DVN) and Aberdeen Asia-Pacific Income Fund, Inc. (AMEX: FAX) as a good natural gas play.
Among the coal stocks, he likes James River Coal Company (NASDAQ: JRCC) and Arch Coal, Inc. (NYSE: ACI).
Pengrowth Energy (PGH) jumped 2.27% today, while San Juan Basin Royalty Trust (SJT), Chesapeake Energy Corporation (CHK) and Devon Energy Corporation (DVN) dropped 1.41%, 1.10% and 0.30% respectively. FAX gained 0.47% in today's trading session.
James River Coal (JRCC) spiked 7.33% and Arch Coal (ACI) jumped 6.35%.
