Replies to post #7661 on Chesapeake Energy Corp (CHK)

[researcher59]

CHK closed today at $2.92 and may head lower, even though it looks technically very oversold. NG has been plunging on fears of a future glut, despite the EIA reported deficit. NG was $3.50 a few weeks ago, but just $2.69 today, and the futures market is backwardized (lower prices in 2019), so hedging now is useless. Even the long term bonds are sinking, now at a 7% discount to par.