Coal Stocks On Fire as China Cuts Rates (KOL) (PCX) (JRCC)

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Coal and coal stocks are continuing higher Thursday morning as investors are responding to news of a rate cut by the China, the world's largest consumer of the natural resource.

After hitting levels not seen since 2009 at the end of last month, coal is now bouncing as it appears market players are bracing for some economic slowing in Asia. The Market Vectors Coal ETF (NYSE: KOL) is up 13 percent since June 25th. The fund had fallen more than 28 percent since the beginning of 2012 and 38 percent since the high set at the beginning of February.

Around the Coal sector Thursday:

• Patriot Coal (NYSE: PCX) - up 36 percent this morning, was up 33 percent on Tuesday
  
• James River Coal (Nasdaq: JRCC) - up 17 percent, was up 10 percent on Tuesday
  
• L&L Energy (Nasdaq: LLEN) - up 7 percent
  
• Alpha Natural Resources (NYSE: ANR) - up 4 percent
  
• Walter Energy (NYSE: WLT) - up 2.3 percent
  
• Arch Coal (NYSE: ACI) - up 1.8 percent
  
• CONSOL Energy (NYSE: CNX) - up 1.4 percent

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