that was just some short covering. SMART MONEY HAS BEEN BUYING SINCE $.55
a lot of smart money loaded btween .56-59, then the next wave of smart money loading was .61-.63, and then Friday and yesterday the .70's brought in even more loading.
the plunge from $1.30 to $.70 was pretty dramatic, the continuation selling to .55 was CAPITULATION as it only touched .55 twice. easy bottom call.
I bought 27777 at .55xx and another 28000 at .57-58 then two separate 10,000 blocks in the low .60's
options always tell a good story. this will be over $1 in no time, could see push to $1.25-1.30 in early 2020 just on momentum alone, not even news. any more good news and this thing will start pushing to $2
they might not even have to sell assets now, which could end up being very bullish
should CHK come out of this fairly unscathed and if oil can hang in the 60's or even break into 70's and natural gas can drift back to 2.50-2.70, expect CHK to continue to cut costs, insider buys, bigger funds buying new positions, debt being repaid and eventually an announcement of huge debt repayment and share buybacks. there will be no reverse split either.
-Neb- the ultimate bottomfeeder ;)
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