I guess giving you the benefit of doubt of being an actual trader is my fault. Just peeked in your board history and you are just another board troll that appeared out of nowhere just since July-1st..LOL
That explains a lot and you BS posts on trading advice....
Wave-v can be 0.618, 0.768 or 1 times the length of Wave-i, In some rare cases 1 and hence you give a target range and not exactly a bottom. Also, the time taken by the waves are also proportional. I still stand by my prediction that a turn is imminent... lower first or now is the question. Since you're mister charts... Go to StockTwits and check the charts under the handle "Options_Only_Trader".
If you want to learn about it and actually use for trading then check out ElliotWave international site (They are the best in the business - top in crude & gold, china & Hangseng moves, all of them were predicted long before it transpired)
It is not the LONGS slamming, but the shorts... Classic case of throwing "baby with the bath water" (BTU is put in the same class as ANR and ACI)
Get your facts straight.... I was not in BTU for the ride from $72-$4... I got involved after mid may since the upper 3's. Obviously, I was a little early and did not expect the intermediate Wave(5) to be this nasty. Esp. the precipitous fall from 2.6 to 1.43. With that being said, the more suppressed it is the more violent will be the upside move. But, the price action today is not great and if it doesn't shoot up this week then another low is def. in the cards. The only silver lining today is the lack of volume... selling might be drying up.
It is the matter of time when the environmental cost for natural gas comes in to play... Coal is just an easy target right now.
"Elloit Wave nonsense which always predicts a recovery"
I guess it is beyond your comprehension of what it predicts... Please go do some reading on it before you post some gibberish about it.
How many times do you have to see the same act before one gets it? WS does it time and time again and wipes out retail's $$$$ every time in the process. How much more ridiculous can it get when they (Deutsche Bank) down grade from $6- $1.30 (So, it is def. not a coincidence that the PT is just a few pennies below the all time low the very next day) I'm pretty sure that their clients are NOT SHORT (Wink...Wink...) the name.
Shorts have done the easy part of convincing themselves that BTU is going BK. They just now have to convince everybody else...
My point is no asset class will be spared Stocks, Bonds, Precious metals, Real Estate... All of them tank together and no where to hide and CASH will be KING again! Reset the people's mentality to early 80's and post 1929... Deflation is inevitable!
That is a lame offer and will be turned down. The stock was trading $24 just before the earnings release... $30/share could be something that investors might ponder.
Markets are driven by "Sentiment and Investor psychology" more than anything else. Once the euphoria ends, some technical damage is done there will be a massive sentiment shift from "Buy the dip" that has been in place for the last few years to "Sell the rip" and the vicious downward spiral will lead to the nastiest down draft that prob. will be bigger than 1929. It might make 2008-2009 look like a walk in the park. In short, there is nothing FED or anybody else can do to reverse the sentiment... of course, you have equally viscious upside bear market rallies in between... but the larger trend will be down.
Why waste you time asking for factual information about something that none of us can really foresee? Even if there are 10 WS clowns that shout BK... just remember these are the same clowns that cried for coal super-cycle in 2011. In fact, the coal companies themselves saw a bright and rosy picture and made those balance sheet acquisitions at the top. Just like people hated FB @ $20, AAPL @60, NFLX @60... but love all of them now after massive gains.
Here is a little secret about interest rates... The market really sets them (As Ben once eluded in one of his statement) and right now the FED backstop seems to give market a false sense of security. Once that is broken, which you already see in the 30 Year T yield that rose to 3.22% in June and completed intermediate Wave(1) and doing a retracement Wave(2), which when complete should take the yields above 4%. Bond market tends to be correct and you will witness the 30+ year bond bull market reverse....
Decent close today, nothing to be euphoric about... Just a step in the right direction. Expect some follow through tomorrow and once 1.72 is broken (Inverse H&S or double-bottom) the a quick move to 1.90 will be in the cards. If 1.9 is broken (With some volume) then expect some panic for the shorts whose average shorting price for 18 M shares is $2.35. The unwind could lead to another 30%-40% upside move in a very short time. The end of this upside move will mark the minor wave-1 of a larger upside move (expect a fib. retracement of 0.5-0.618 after) to complete minor Wave-2 (This would be ideal buy point for people on the side-lines) as the next leg higher Minor Wave-3 would be powerful and relentless.
Of course... as I posted early today if BTU were to make an upside run to $5-$6 level in the next 3-6 months. It can't afford to stall any longer. EW pattern seems complete and can allow at the most one more low, but preferably should move up now.
We can better extrapolate price targets once we can confirm the end of Wave-i (Minute wave) of minor Wave-1
AH action... Shorts hit the BID @1.66. How many buys can they swallow? Anyways, I'll post the latest charts on StockTwits under then handle "Options_Only_Trader"