Chesapeake Energy Following-Through To The Downside

CHK is following-through to the downside after falling out of a consolidation wedge last week Tuesday (April 12) (read herehttp://steadytrader.wpengine.com/chesapeake-energy-chk-failing-at-important-levels/).  We discussed price targets in the morning newsletter today and are managing the position accordingly in the chat-room.  Our first target price is $31.

Chesapeake Energy (CHK) Short-Bet Update

After yesterday's sell-off in CHK I initiated a short position, as discussed here: http://steadytrader.wpengine.com/chesapeake-energy-chk-failing-at-important-levels/ Today the energy sector is getting a bid (XLE is up 0.90%) and CHK is playing along, up 2.25%. Looking at other energy charts like Exxon (XOM), Schlumberger (SLB) and others, the recent supply doesn't make those charts look much more attractive […]

Chesapeake Energy (CHK) Failing At Important Levels

Yesterday I scribbled about the nice consolidation phase in CHK and how above $34.60 I could be a buyer for a bucket 2 trade, see here http://steadytrader.wpengine.com/chesapeake-energy-chk-attractive-above-34-60/ Today's price action is entirely different and all the more important to note.  Today CHK broke below an uptrend line in place since last December, as well as the […]

Chesapeake Energy (CHK) Attractive Above $34.60

See the narrowing trading range and how nicely the stock held above the 50 dma.  Fundamentally as a growth story and alternative energy play I like the name as well.  Arguably the stock has gone quite parabolical lately but the consolidation phase since late Feb ruary is helping digest the move from $20 to $35 […]

Market Day Summary May 2nd

The day started with exuberance and joy from the news about BinLadin's death and ended up selling off.  Silver got hammered to the tune of 9ish% and major U.S. equity indices sold off roughly 1/5th of a percent each…except the NDX, whch stayed flat. For our part we made good money short Silver be entering […]