The M & A news on the energy sector drove CHK up today and I elected to
sell my 4,000 chares at $30.60. I had an average buy in of $29 on these
shares and although I still love this stock, I looked at the
following. 1. Natural gas is down .20 today. 2. CHK is not a buy out
target and if anything would be the buyer which would most likely hurt the
stock price short term so the spike today is more of a gift than anything
based on good fundamentals. 3. We have some time before hurricanes become
a factor with this issue and with the weakness in the market, I hope to
get
that lower buy in point chance again. 4. I locked in $6,400 profit and
with the other scalps I did on it, I have a total trade profit of nearly
$10,000 over the past 30 days. 5. If I'm wrong and it runs further from
here based on fundamentals that make sense, I can always get back in at a
higher price but I like the odds of where I'm at with
it.
Bob