CHK is a buy here on the daily, weekly and the monthly charts.
However, it could be down another day before a move up. And the weekly I'd like to see more oversold, but right here is a low risk entry.
Same for the monthly. We are now into the 4th month is a row that we are extremely oversold. Meaning if we closed the month at these levels, then in Jan. CHK would close the month higher than Dec.'s close.
If CHK sells off on the CC, it should only last Mon and/or Tues., then turn up for a nice trade. Watch the open.
As for TBT, I'll be watching closely Mon. Hated to miss that 42 level on Friday, but I didn't have internet access at the time.
TBT's due for a nice move, though I don't think the top's in the treasuries yet.. Seems like a lot of people are calling a top here in the 10 yr treasury. I belive we will have a nice move in the TBT and then a new low.
The monthly TLT (long etf) chart shows more room to go to the up-side, and that's just for one month of being overbought. It can stay up as long as 4 months before dropping. That's why I don't think the top is in yet on the 20 yr treasury.
Time will tell.
