Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of coal producer Alpha Natural Resources (NYSE: ANR) jumped as much as 13% in trading today as coal stocks emerged from a long slump.

So what: Investors are starting to think that coal producers are showing some value and analysts have given a bit of a jolt today. Jefferies analyst Peter Ward said he thought coal stocks had been beaten down too far and they were due for an up day like today.

Now what: Peabody Energy (NYSE: BTU) and other coal stocks are also climbing today in a tide that is raising all boats. I think there's lots of value in the industry, but with coal prices depressed on weak demand, I'm a little leery of this being the start of a long-term rally. This looks more like a dead cat bounce as the market tries to search for a bottom in coal stocks -- hardly a buy signal to this Fool.

Interested in more info on Alpha Natural Resources? Add it to your watchlist by clicking here.

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.

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