Complete destruction of BTU going on. At this point...single digits are a real possibility with the market continue its negative sentiment.
BTU has been the worse performer day in/day out. So much for the theory of going with the best in the sector. Low volume so its not as though everyone is dumping...its just no one is buying.
Another close near LOD.....dash to trash continues unabated. WLT up 12% off its low today. BTU 6 pennies off its low.
your right...JRCC is right behind PCX in the race but BTU is gaining ground quickly on an absolute basis. Dash for trash. BTU may go red shortly...lol
ANR up almost 3% and WLT up 6%...should trickle over to BTU eventually. Still not much volume. If volume picks up, may be able to get back to $16.50
I think you might have my Yahoo ID confused with another poster BUT if you have worked with bankruptcies & debt for 15 years you have seen liquidity dry up overnight and bk become a self-fulfilling prophecy. I have no knowledge of a bond series in potential default, etc : however the terms of refinancing WLT 's debt has gotten significantly more complicated the past few days.
Not sure JRCC has "much lower" to go and ACI/ANR/WLT are a shell of their former market caps. Not much further to fall, all are in danger of bk with current inept mgt. no reason to be long ANY coal stock.
BTU has hovered at the LOD perpetually the past three days despite being down over 10%. Hovering at LOD now and appears BTU is headed for a new LOD.
no catalyst in the next 30 days other than "oversold" and we all know it can get more oversold. ZERO strength in all coal stocks. Sell or short upticks is the only way right now or sell covered calls.