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Surprisingly, natural gas is a major component of air conditioning as
well. Especially in large buildings. So far, summer has been fairly
mild which has pushed up inventory and kept the spot price down. CHK
should not move like it does with the spot price since they have sold
70% of the next two year's production at $10 but it does anyway and
what should happen isn't always what does happen so perception
becomes fact. I believe the next catalyst for gas prices will be a
storm in the Gulf and until then, CHK will trade in a tight
range. There is, of course, a down side to hedging their production
and that is the obvious scenario where gas goes to $15 and CHK is
locked into that $10 price but so far, investors seem oblivious to
the hedge. Thanks for the info Clyde.
Bob
At 09:50 PM 7/1/2006, you wrote:
>One of the (expensive) services that I use is recommending
>a long position in CHK on the basis that winter will see a
>significant increase in natural gas prices.
>
>Clyde
>
>----- Original Message -----
>From: "BobsKC" <bobskc@xxxxxxxxxxxx>
>To: <realtraders@xxxxxxxxxxxxxxx>
>Sent: Saturday, July 01, 2006 06:52 PM
>Subject: **SPAM: [RT] CHK action
>
>
> > Good day all .. I finally landed from my trip and wanted to keep you
> > up to date on my CHK saga.
> >
> > As I said in my last mail, after I sold the 4K at 30.50, I put in a
> > GTC order at 29 and as you know, that
> > filled early in the week. When it crossed 30.50 again late in the
> > week, I sold it again. Had I been at
> > some base of operations rather than using a wireless hotel
> > connection, I would have shorted it the first
> > time it hit 30.50 because the fundamentals were not there to support
> > the rise. (Previously explained). I
> > still like the stock long but again, until weather catches hold of
> > it, the spot price doesn't support these runs
> > in my opinion and I'll await another chance at a lower price
> > again. The summary is that in the past 30
> > days, I have made $16,000 on CHK runs. I won't short it here as the
> > fundamentals were not simply
> > misinterpreted like they were the first visit to 30.50 when the
> > market saw M & A activity in the sector as a
> > plus when it was never a plus for CHK and I'm less sure of the timing
> > and depth of a retracement.
> >
> > Good trading next week
> >
> > Bob
> >
> >
> >
> >
> >
> > Yahoo! Groups Links
> >
> >
> >
> >
> >
> >
>
>
>
>Yahoo! Groups Links
>
>
>
>
>
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