BTU - remaining broadly weak

Despite higher by a very powerful 23% so far this month, Peabody Energy (BTU) remains broadly weak, having been effectively destroyed across the last four years. Even a move to the mid teens this year will mean little to those who been resolutely long since the $69s of April 2011.


BTU, daily

BTU, monthly

Summary

The sixth consecutive daily gain, but STILL within a broader down trend from the last key lower high of May 2014.

*I have high confidence in the long term viability of BTU. It remains one of the larger coal miners, and should survive the next recession.

For the moment though... despite the ongoing bounce, I have ZERO interest in being long the stock. A key multi-year floor in commodities looks more likely this summer (along with Oil and the precious metals). For now... BTU is one to watch... and wait.