Bookkeeping: Adding to Massey Energy (MEE)

It's been a very busy day for transactions...

I normally don't add to a stock before earnings because there is a 50/50 chance of reaction either way. And it might not really matter what Massey Energy's (MEE) earnings are tomorrow because all that matters anymore in the commodity space is the price of oil. Of which I've been a near term bear. [Jun 26: Can a Near Term Top in Oil be Far Away?] I just did not expect every commodity within 6 degrees of Kevin Bacon to also be systematically destroyed with oil. Lesson learned. That said (ok maybe lesson not learned) I still believe in the coal and fertilizer stories. So I'm going to increase my exposure to Massey ahead of earnings tomorrow pushing the stake up from 0.6% to 2.5%. Purchases in the $73 range.

The stock is down 8% which can be attributed to (a) oil is down hence every commodity must be destroyed and/or...