Chesapeake Energy Corp (CHK)

[dwms07]

Bud, I think CHK has just been beat to hell lately and investors are little tired of riding it with the hopes it can get back to $8 and hold. I'm also a little afraid of CHK because it daytrades on crude. I don't see crude jumping much for the next few weeks. Any little negative and the shorts will slam it good.

SWN is a little weak today because natgas in a bit weak but it usually recovers later in the day. And it will fly if natgas increases back above $3.75 which it might do after next Thursday big draw estimated at about -230 Bcf I also think natgas just will turn north a little later on because we got a huge ice storm getting ready to hit the middle of the USA. click-here

This storm (Jupiter) could draw a lot of attention to natgas and freezing conditions. Lots of ice on power lines can snap them. With no power, the only heat in the house will come gas ranges and portable gas stoves. My gut tells me that this will spike natgas later today!

Anyway, I cut my CHK down from 117K to only 25K. I'm gonna close down and relax. Later my friend!