Chesapeake Energy Corp (CHK)

[LootForMe2]

I never looked at how the sector was doing. I have a different method of trading. This stock currently has a daily average over the period of a month of 4.35%. I get in and out when my return is around half of the daily high/low average which averages around two days.

It works well for me. Every now and then I get into one and get burnt as CHK is one of them. I thought when CHK dropped down to around $4.40 area it would bounce as that was a good support area. I got in at 4.35. It did bounce and I set my sell at 4.50. The next day it made it to 4.48 and the downtrend kicked in.

I decided to hold this one till my trade goes green. It may never do that again. We will see...