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I should think that buying futures contracts to cover 70% of two
years production for the largest supplier of natural gas in the world
would put tremendous upward pressure on the price of those contracts
but then, I'm not a futures trader, I'm just a poor ol Tennessee hillbilly. :)
Looks like a good opening tomorrow
Bob
At 06:24 PM 7/2/2006, you wrote:
>But like everything else CHK can buy back that $10 gas right now in
>the futures market and sell it again later. Right now they are
>under water as next march gas is selling right now for $10.25 even
>though the current price is $6+. So how good a deal was the $10 sale.
>
>Only time will tell. Good trading, Ira.
>
>
>----- Original Message -----
>From: <mailto:bobskc@xxxxxxxxxxxx>BobsKC
>To: <mailto:realtraders@xxxxxxxxxxxxxxx>realtraders@xxxxxxxxxxxxxxx
>Sent: Sunday, July 02, 2006 12:24 PM
>Subject: Re: [SPAM] Re: [RT] CHK action
>
>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" <<mailto:bobskc%40revealed.net>bobskc@xxxxxxxxxxxx>
> >To: <<mailto:realtraders%40yahoogroups.com>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
> >
> >
> >
> >
> >
>
>
>----------
>No virus found in this incoming message.
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>
>
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