Zeev's Turnips Patch-No Politics (ZEEV)

[langostino]

CHK from 74 to 39

Funny, where was all the outrage when CHK got goosed from 18 to 74? THAT was the bogus part of game, not the move from 70 to 40.
$39 for CHK is a more than generous price, and frankly it should go lower to be in line with NatGas where it's priced now, a price that should fall further given the massive amount of new discoveries and glut the huge new drilling investments will be bringing to market.

CHK from 18 to 39 isn't a "debacle". What was a debacle was all the IDIOTS out there buying CHK over 50 and 60 like they had never seen a bubble-driven parabolic chart before.

Ditto for DRYS. What was the joke were the complete morons who were buying that thing and didn't understand the first thing about cyclicality in bulk rates. Anyone buying DRYS at $130 is getting precisely what clueless people scrambling to "get rich quick" and buying stuff they don't know squat about deserve. You can't idiot-proof a market.