March 28, 2024

Arch Coal (ACI)

Trying to call a bottom in Arch Coal (ACI) has been a fools game but then again I may not be the sharpest knife in the drawer.  For me it is about risk and reward and this one checks that box.  I have a clear pop and flag and can take a long for a bounce against the recent 6/24/13 lows.  Below there and I would be back on the sidelines.  The first touch of the 50 day SMA might be a place to scale out some but if this ends up being a larger bottom then the rally could…