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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 either, as compared to CHK.

I won't get cute in this trade and will stick with a stop-loss level at $33, should the wind not be at my back on this one.

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