BTU - coal miners close to the 2008 lows

With the main market on the slide, the coal miners especially suffered. Peabody Energy (BTU) declined a very significant 4.4% @ $17.63. BTU is now just over $2 away from the 2008 low of $15.37. Near term trend looks very weak, but is arguably oversold.


BTU, daily

Summary

It is incredible that BTU has fallen over 30% so far this year, and that's with the main equity market having risen from sp'1400 to the 1620s.

What would BTU be if the sp' gets whacked later this summer?

The $15s now look likely to be hit within the next few months. The only issue is whether the $10 psy' level might be hit.