The timing of Dalian Coking Coal Futures gaining by the market limit of 9% today will allow for a massive move higher for nearly all coking coal stocks next week, but only Morien Resources (TSXV: MOX) is truly worth playing because its upside is orders of magnitude larger than every other coking coal play.
The Dalian Commodity Exchange will be closed on Friday (tomorrow) plus it will remain closed on Monday, Tuesday, Wednesday, and Thursday of next week for China's National Day Holiday.
Dalian Coking Coal's closing price today of 3,290.5 yuan (US$510) per tonne was its exact high of day and new all-time high! Prior to today, Dalian Coking Coal's previous all-time high was 3,099 yuan (US$480.91) per tonne reached on September 10th, but Dalian Coking Coal closed September 10th down to only 2,826.5 yuan (US$438.63) per tonne.
Unlike on September 10th when Dalian Coking Coal hit a new all-time high but declined to close well below its record high reached that day, this time we are guaranteed to see Dalian Coking Coal remain at its new all-time high for a minimum of one full week!
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