Anything can happen in the stock market…and often does. I have said this over and over again here but it is true. If this is the case in life why not in the markets as well? Take, for instance, the coal mining tragedy at a Massey Energy Company coal mine in West Virginia Monday. It is believed that at least 25 miners (human beings!) were killed in an explosion, the worst U.S. mine disaster since 1984. Of course, there will be much figure pointing about who or what is to blame. What matters most, however, is consideration for the families whose lives have been changed forever. Every day workers enter coal mines all over the world assuming they will return home. Most oftentimes they do but occasionally things do not turn out as planned and for that, we should be thankful that there are those who risk their lives so that we may have a convenient one, whether in a mine or on a battlefield.
Speaking of battlefields, Massey stock has taken a beating due to this news. I am sure there were/are many traders and investors who were long this stock due to its bullish chart. MEE had broken out of a range back the first week of March and has been in an uptrend every since. But in two days four weeks of gains have been erased and it may not be over yet.
These types of events happen everyday in our world, in and outside the charts. Accept it as part of life and as part of trading. Believe me it will happen again.
