Another Winning Call - Long CHK Today

March 24, 2008 9:36 PM

I mentioned last night to look to be long CHK today. Was an easy $1.00. Be far more careful tomorrow…..a checkdown is possible depending on where it opens…AND I do not like it up near $48… I also mentioned AGAIN pre-open the trade was long today…. I personally would have exited near $45.50 today as it was having an issue with an SMA that I watch on some stocks….and it couldn’t clear it all day…

If it clears todays high tomorrow….and even sniffs the opening price later in the day….EXIT if you happen to be long the stock…IMO. If it doesn’t close below the open, then the trade is still long….but be VERY careful up near $48….IMO.

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