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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 680.44

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Dec 19 4:00 PM EST

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To: Johnny Canuck who wrote (43117)	3/1/2006 1:10:39 AM
From: Johnny Canuck	Read Replies (1) of 69141

8:27PM Massey Energy: 1Q operating performance below expectations (MEE) by Ruth Mantell SAN FRANCISCO (MarketWatch) -- Massey Energy Co. (MEE) after Tuesday's closing bell said its first-quarter operating performance has been below the company's expectations. The Richmond, Va.-based coal producer cited issues such as an Aracoma fire, weak longwall performance and a shortfall in production from other underground mines. Massey added that the first quarter's average sales price per ton will be lower than during the rest of 2006. In the first quarter, the company expects shipments of 10 million tons, cash costs 5% to 10% more than its prior outlook, and an average price per ton of $47 to $48. Due to lower estimates of underground production, Massey sees shipments of 44 million tons to 47 million tons for 2006. The company increased full-year projections of average cash costs per ton to a range of $37 to $40, and affirmed the average sales price per ton of $50.

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