CHK - Still no sign of a low reversal…

March 19, 2008 4:21 PM

$46.03 thus far….no reversal that I see… This appears to be more of a timing issue…If we can stay in this range all day then the heat likely will pick up later or tomorrow…

If we stay here or lower, it may spike lower tomorrow. If it spikes down tomorrow and then proceeds above the open, the safe play is to cover all or 50% of the short right then at the opening price…. I still smell lower on this stock longer term however…