When the market goes down, BTU will go down...buy it then...
I'm not a BTU basher. In fact, I own some BTU. However, I think BTU is going several SSS lower b/4 recovering. Long term, I suspect BTU will again run up nicely. However, the problem is multi-faceted. First, the global economy is weakening generally. Second, there is too much excess capacity, so until production is curtailed and some coal companies go bankrupt...and hopefully then go out of existence...prices are going to be weak. Third, this entire market is ridiculously overvalued. This market is going to take another hit, perhaps one similar to the NASDAQ in 2000 and 2001, or more recently like in 2007 through April 2009. When this happens, BTU will likely drop to the $10 to $12 range. So no reason at all to rush into BTU now. I do think BTU will survive until a happier day. BTU seems to be slowly making progress on their debt. Progress is going to be slow though until coal prices move substantially higher. Expect much lower before going much higher.
There are plenty of individual stocks that are very overvalued in this market and plenty that are undervalued. I have traded through both the 2000 tech bubble and our last downturn and I see nothing that would bring that kind of drop in the market. This correction is long overdue in my opinion. BTU continues to suffer from the same problem, too much debt and not enough demand. I think their downturn is secular and will last much longer then anyone thinks possible. BTU will not recover until steel and iron ore do. With all that being said there have been plenty of great trading oportunities along the way. Taking a short term psotion here at $19.05.
Based on the stupid junk you just wrote, I am inclined to buy some more. But, in all honesty, the entire market is . . . After this correction, NEW leaders will replace the old ones. If you don't want to invest MORE into BTU that's your problem, not mine. I'll wait till 17 to buy a ton more. You do what you want to do. But, I am going to have a lot of fun making bank on this one.