CHK: Buy Further Weakness

April 24, 2008 10:46 PM

If Chesapeake Energy (CHK) trades much lower, weakness should be bought, IMO. $48.60 should try and hold here. if we clear $48.60, it could spike lower. I do not think that would be a reason to panic as $48.60 is not a “must hold”. If we have seen the highs in CHK, and I do not think we have here….they should be at least retested.