I'm like a broken record here - Alpha Natural Resources (ANR) with blow out earnings. However, hedge funds urge you to buy health care stocks with 7% growth so please sell these immediately and run to those. Thank you for your time. (US Steel (X) is also absolutely incredible on the earnings front this morning)

Just a quick bookkeeping note - I am selling some ANR into this spike @ $97 range simply because this market is putrid and hedge funds don't want coal or fertilizer. This is my favorite coal name and one day it should be back to a major stake in the fund - but until money flow returns to the sector I am selling spikes - down to a 1.9% stake. I have been tickled to death with the earnings reports from our portfolio thus far - our stocks are absolutely destroying estimates, pushing guidance up and making us very happy from a fundamental standpoint. But as I keep repeating, until the market cares (and I don't count these oversold spikes as real buying) I am selling spots of strength. When the next real move happens in these spaces they will be sustained multi-month moves. If we miss the first week or two of it, we'll live. Protect capital is job #1.

Back to Alpha Natural Resources who again I believe the story is just beginning (May 5: Alpha Natural Resources Booming Earnings - Just the Start)

• Coal mine operator Alpha Natural Resources Inc. on Tuesday reported record earnings on improved margins and increased metallurgical shipments. Alpha said profits for the second quarter increased to $74.3 million, or $1.04 per share, compared with $4.7 million, or 7 cents per share, in the year-ago quarter. The latest quarter included several special charges worth a combined 42 cents per share, and an income tax benefit of 16 cents per share.
• Revenue increased to $732.2 million from $435.3 million.