Chesapeake Energy Corp (CHK)

[ogbull]

We hit the $4.00!

The amazing point is that we are up almost 9% and NatGas is down 2.43%. I just wish volume would move up. We could could get 40 Million or close to it. I also expect volume to pick up just after lunch hour. Maybe about 30 minutes when more buyers come back from lunch.

Chesapeake will get a lot of press from this move if it hold and I think it will. It's not uncommon to see a beaten down stock run up for 2-3 days in a row. We could even break $5 by next Monday.

Tomorrow at 10:30 EIA releases their NatGas report for the week. The way gas is trading down today, makes me feel like negative news is coming. But I really don't why NatGas is so soft. We should be near $2.12 by now. Henry Hub is showing $2.15 in July and $2.23 in August when we should be feeling the heatwave. We should also be getting a few hurricane in the GOM that could disrupt product and spike prices.

The only thing that worries my now is next December and January 2017.