Has been emotional roller coaster. Just when you think they're taking you down for good they run it right back up. I don't understand the trading action but thankful someone keeps pushing it back up.
The Street just raised it today from a hold to a buy, for whatever that's worth to you. I've bought and sold this about 5 times or so. I bought again yesterday. I will put in a fairly tight market stop before the close and hope they don't take me out. Even if they take it higher I've had them come down and take my stop, only to turn right around and head back up. It's a risk I'm willing to take instead of getting my head caved in. This thing can move pretty fast in either direction. Good luck.
If you are a chart person it's breaking through the 50 DMA today. I've been holding through this whole down turn and it's difficult to add more when I'm just wanting to break even. I'm still 1 1/2 points away. I'll be kicking myself later I suppose.
Oil, NG, Coal all in the dirt. Gold up one day and down the next. The Fed has printed the country into bankruptcy yet today there is an IPO for Shake Shack. How in the world is the economy well enough to support a #$%$ restaurant chain and commodities are considered worthless? I don't get it.
It's below the 200 DMA which is not a buy signal. You could bottom fish and score big. I think the economy in China is better than here so it wouldn't be a terrible bet if you can stomach the ups & downs. This went up so fast it's hard for me to come up with support other than six months ago which would be around 56. I don't think it's headed there though. Once this starts taking off again we'll see 80 pretty quick. I'm watching this closely to buy.
The floor is the 200 day moving average. It's right there, right now. Once it stays up above a few days I'll be looking to get in.
It bounced off the 200 DMA. As long as it holds above I will buy tomorrow. I passed this up a couple times in the past but I'm getting in this time.
The high of the day on 11/28 was 101.97. That was the day it had the gap down from 112.15. If we hit that I think this will take off.
He said he would destroy the coal industry and with the help of his billionaire leftest climate-change brigade, he looks to have succeeded. Companies continue to be shorted and will be until extinct: Percentage of float - ANR 27.26, WLT 41.52, ACI 23.86, BTU 18.86. Just goes to show how good they are at destroying an industry. Too bad they aren't good at building anything.
Tomorrow will tell the story. This is making a W pattern. It pulled back and is still above the 200 DMA. If it breaks down below then it has to do more work. Otherwise this could make a nice move up from here.
The short interest is only 10% of float right now. If the shorts start smelling blood this could get ugly fast.
Hopefully you caught it near the bottom. Did you see SCO today? I picked up some APA today. Maybe this one tomorrow. Hoping the selling is almost done. Good luck.