Bagman's charts, watchlists, scans and etc.

[**D*A**]

Hi NT, The CPE chart is extremely oversold and has the look that the bottoming process may be upon us. They will generally dip like this, trade sideways, dip hard again, trade sideways while the moving aves group up, then move on to the next leg of the journey. It is a process. This appears to be set up for a trade now.

You know what scares me more than anything about CPE? The fact that I remember Lebed pumping it a few years ago. I couldn't tell you if he is still associated or not? I don't follow him and avoid most everything I associate with his name.

Here is what the company is saying.

http://finance.yahoo.com/news/callon-petroleum-company-issues-guidance-210101207.html