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Agreed .. I've been in and out of CHK several times over the past year
along with a few other energy plays. I also got very lucky and
cleared all my metal holdings two weeks ago. The "panic"
to save profits in both sectors has set up new buying opportunities in
my opinion although I feel the energy sector is less speculative
than metals which were priced to perfection and are still
speculative.
Good trading next week,
Bob
At 11:47 AM 5/21/2006 -0700, you wrote:
Bob,
I have traded the energy sector, including
CHK, quite successfully, on a short term basis, over the past year.
The sector is so volatile, however, I see no sense in holding long
positions during the down swings and giving profits back.
For what it is worth, my methodology is
signaling upturns in the whole energy sector for next week. My best buys
are DVN,ECA,EOG,SJT and WRES however CHK also has a buy signal for
Monday.
My methodology likes confirmation of a reversal
before entering the trade so I will be a buyer when Friday's high is
exceeded by 4 tics or at lower prices on a strongly bullish
day.
Best Regards,
Jim White
- ----- Original Message -----
- From: BobsKC
- To:
realtraders@xxxxxxxxxxxxxxx
- Sent: Sunday, May 21, 2006 11:25 AM
- Subject: Re: [RT] post questions
- Chesapeake Energy... Both of you are depending on charts and I'm depending on earnings. The stock has come down along with all the other natural gas issues because the product has come down so far. Many do not seem to be aware that they have sold 70% of the next two year's production at nearly twice what the spot price is today. Throw in the CEO making a huge purchase in the open market and the fundamentals can not be ignored. None of these things take into account the approaching hurricane season and what will happen to the cash price for natural gas once the first named storm moves into the gulf. If those fundamentals are not enough, CHK currently sports an 8.4 PE It's been over $40 in the past 12 months and has a 10+% growth pattern.
- So now, we have two views by technicians and one by a fundamental trader. All views are interesting and no one is always right or always wrong and neither are styles of investing.
- Good luck next week everyone,
- Bob
- At 10:27 PM 5/20/2006 -0700, you wrote:
- You see, Here is what I mean.
-
- I assume that this is Chessy Energy that you are talking about.
-
- I have price in a range between 34 and 25.50. It is in an up move until 25.50 is taken out and then this retracement has a target price of 26. Right now it is at support from a longer term move down at 28.75. You should get a retracement here and the retracement shouldn't take out the 33 level. If 25.5 is taken out the next target to the downside is 22.
-
- This current retracement up should meet resistance at 30 dollars and hit a target of about 30.50. About a 1 point move from here. If long I would exit there.
-
- So you would be 100% invested when I am exiting 100% and looking for a congestion area or further down retracement before another up move would start.
-
- We are both looking at the same chart and seeing different things. Right now the major move is down and anything to the upside is nothing to get excited about. The upside is tradable and can be profitable. Like everything else in life, what is seen is in the eyes of the beholder.
-
- Once again, just one man's opinion. Ira.
-
- PS. Finals on Monday and then a vacation. See all when I return. Have a good week.
-
- ----- Original Message -----
- From: Ben
- To: realtraders@xxxxxxxxxxxxxxx
- Sent: Saturday, May 20, 2006 8:35 PM
- Subject: Re: [RT] post questions
- Hello Bob
- I have attached a chart of the perfect stop loss
- the levels were I would buy would be
- at a close above 29.27 will buy 25% of position with stop loss at 27.98
-
- will add 25% to the position on a close above 29.78
- buy full 100% of position at close above 30.68
-
- sell 25% at profit at 31.10
- sell another 25% at 31.89
- sell rest at 32.36 or move stop loss to 31.1 with increasing that stop loss every time the stock makes a higher hi
- Ben
- ----- Original Message -----
- From: BobsKC
- To: realtraders@xxxxxxxxxxxxxxx
- Sent: Saturday, May 20, 2006 10:32 PM
- Subject: Re: [RT] post questions
- A kind and generous offer Ben.
- It seems to me that traders try harder every year to get ahead of historical swings and this time, it's the summer doldrums they are trying to beat. So, instead of waiting for the dreaded summer months, they are bailing now to beat the rush. The good news is even these swings can be predicted if one just looks at the past performance of the markets versus chronological changes and geo political events, etc. Whatever the trend is, the traders will be trying to get ahead of that trend.
- The fundamentals are still good. P E's are in line and earnings are growing. Inflation is low and controlled. Employment is strong
- while on the negative side, housing is falling off and some consumers are being pinched with ARM's. I was 100% cash until late this week when I began buying again and will continue to buy as it falls.
- To get your kicked off with your offer, here is one for you. I already own CHK at $28.80 and will buy more if it dips below that. The CEO recently bought a large block and they have sold 70% of this year's and next year's production at $10 so as natural gas falls below $6 cash, it means little to CHK in terms of earnings. What do you think about it?
- Best to all,
- Bob
- At 03:19 PM 5/20/2006 -0400, you wrote:
- hello
- you are about to make a trade?
- before making it
- post it
- get a second opinion
- the answer will be posted with charts to explain reasons why yes or no
- Ben
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SPONSORED LINKS
Business finance uk Business finance course Business finance online course
Business finance class Small business finance Business finance schools
YAHOO! GROUPS LINKS
SPONSORED LINKS
Business finance uk Business finance course Business finance online course
Business finance class Small business finance Business finance schools
YAHOO! GROUPS LINKS
SPONSORED LINKS
YAHOO! GROUPS LINKS
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