After a 3-day run worth 17% my guess it is just profits taken. From a technical point of view, the stock is going back inside BB: http://stockcharts.com/h-sc/ui?s=BTUI&p=D&yr=0&mn=6&dy=0&id=p59489379921
Also a bullish crossover is forming - MA(20) crosses MA(50), so I wouldn't worry until the price goes sharply below $10.5.
Spy, I agree completely on the profit taking. I sold a third of my holding yesterday right before the bell @ 11.15. Even when I put my sell order in, I was surprised it went through; and more surprised with the price point surpassing it.
I disagree on the 20 vs 50 cross having much affect though. They've been playing tag which each other for the past couple of weeks with no appreciable effect on the stock price. The rapid rise was due to a market sector change. When I saw the recommendation on Squawk Box, I had a feeling that it would bring about an increase in the pps. I was, however surprised by the amount of rise.
Right now this stock is SERIOUSLY OVERBOUGHT!
That being said I expect a gradual decline to 10 by the close on 'options' Fri. You know how MM's like nice clean strike points. I also expect a quick dip to 9.63 before the EOM. For longs, don't worry, unless we get a negative surprise in the next ER, that should be the last time we'll see single digits.
I am long and holding and have a buy order in @ 9.63.
an dats wha I tink
Believe it or not, I hope you're right and I'm wrong but I still see it dipping below 10 before Feb. We are and have been overbought the last few days and although the BB's are shifting northward, BTUI will drop to touch the lower line before finally leaving the single digits hopefully for the last time.
I'm hoping for a good ER this time around. Tech reports have been very mixed some very good and some terrible.
an dats wha I tink
The stock has finally reached its strongest resistance at 12. Is it ready to go higher? I doubt. First, last time 12 was penetrated in early September with volume above 200K. Second, to break through this resistance, the stock needs to close at 12.25 or above and keep that level for at least 3 sessions. IMO the chances are slim. I am betting on a pullback to 11.20-11.10 until the earnings. After that we'll see.