CHK: Not A Fan But…
August 5, 2008 10:19 PM
It appears that CHK is trying to hold $42.15 here. I believe that was the number that I said to be long off long ago. I didn’t like the reaction today on a huge market move. I would rather wait for a strong buy point here, but $42.15 may hold. It is likely to trade with oil here, so may be difficult to predict. Therefore, I believe it best to wait for CHK to confirm a low here.
If you recall, I made a post titled “CHK is a Litmus Test If You Should Be Trading” as it was an obvious short. It has fallen over 30% since. if you doubt charts, then please just send me your money instead of giving it to Goldman.
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