The beleaguered PG&E Corp. (PCG) is likely to sink still lower in the days, weeks and months ahead. The stock price has plunged in the past two years and we have to look back to 2001-02 to see when prices were this low. This kind of decline tells you there are serious fundamental problems.
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This reminds me of 1999 to 2000, but the big lesson during that time was that the crazy uptrend can persist much longer than seems reasonable.
While we face some absolutely insane moves, we have to ask: Where are the sellers?
All the current indicators from trend to momentum to price action sit in a bullish position as the stock breaks above resistance.
The spot market is above the $1,800 threshold.