Funny how we are starting to freeze and have lots of snow but gas drops when it has been steadily going up. I smell desperate bears.
Chesapeake Energy (CHK) Stock Is the Right Way to Play OPEC http://investorplace.com/2016/12/chesapeake-energy-corporation-chk-stock-opec-deal/#.WE7Iln2DCho
Jumped over $7 today... Makes my little tiny portfolio look good, but I was hoping to buy more in the 6's Median target is still $8, high target $11 (yahoo finance)... I believe it's gonna blow those numbers away in the long run... So still a good buy imo, just wondering if I'll see sub 7's again in the near future?
Been long But it's working out for my plan... I've been buying one share every day (baby steps) My buy in average gets lower and lower... By sometime this summer, I'll be ready for Trump to "unleash energy"!
$CHK weekly. current weekly set up bounced off of ~$6 level. see how it closes & if it can also potentially hammer
$CHK weekly. current weekly set up bounced off of ~$6 level. see how it closes & if it can also potentially hammer
Stubborness...... Idk if that's an asset or a liability in this business, but I definitely have it I did set a stop loss today, for safe measure... But subconsciously, just low enough to not get filled... At one point I was 2 cents away from selling it all Still, with the itsy bit I've learned about intrinsic value, I think it's here Fundamentals are in the crapper... Technicals are about as attractive as a one legged dog with rabies and an underbite But my reasoning is this (opinions/corrections welcome): Aaaaall the revenue is in the ground... Earnings only reflect current NG hedging and futures... Even after the asset selling spree, Chesapeake still has reserves comparable to peers like Devon and EOG (peers back in the good ol days)...... Comparable that is by percentage (of proven reserve) and stock price...... These crude, unofficial mathematics give me a ball park of $20 per share If and when a neutral balance sheet is achieved, the ceiling for earnings growth is in the stratosphere (dramatization) Bitter sweet is the gas giant shifting gears to crude oil and NGL's.... Bitter because I live in the birthplace of modern well stimulation technology (fracking) and the NG boom... Sweet because NG prices are not keeping up with oil as they should recently...... If the Chesapeake empire was a bowl of Lucky Charms, they sold everything but the marshmallows, or "Marcellus", however you pronounce that (bad pun) So I won't be pumping anymore diesel into their rig tanks on the Barnett.... But it seems to me management is on par, commodity prices are moving parallel with the objective, the stars are lining up... And CHK is undervalued! Disclaimer: Don't buy this because of my opinion.. Im just a beginner, or "worm hand" (oilfield term)
That volume on Thursday was the highest down-volume in this recent decline but it closed midrange. Only buyers stepping in can cause that to happen, so that is a green flag, a potential local change of behavior. That penetration of 5.47 on Fryday was a test of the gap-up in the latter days of November. The test though was on higher volume than it was in November. So it probably needs to retest 5.47 again to check for supply. If the supply (volume) dries up it should catch a bounce.
I found one of those point and figure charts you're always talkin about... I read up on how they're built.. I get the box size and reversal points.... But reading it is another story Kinda reminds me of The Matrix... When you look at it, you probably see Morpheus fighting Neo..... But I just see green squiggles on a black screen
I would first not use the default settings and turn off the trend lines. For "Chart Scaling" I would start with using the Dynamic ATR(20) method to get an idea of what box size to use. If you do that for CHK you will see it uses a box size of 28 cents. So I would use the "User Defined" method and a box size of 25 cents. With a 3-box-reversal, the downside price objective is 4.25.
But for a short-term count, I favor just using a 1-box reversal, which gives a downside objective of 5.50, which has been met. Note that the 7 columns are counted back to the last buying climax and begin where it fell out of the range; at the last point of supply, LPSY. Note on my vertical bar chart, above where the 7.25 swing point is located. Note on that chart what we are counting here; from the LPSY back to the buying climax; the bars inside the small box/TR. That is the "cause" that produces an "effect" to 5.50. Using a 3-box-reversal, we'd be counting too much.
So You just count the reversals from the beginning of the down trend... Multiply by the box amount, and multiply by the reversal figure... Then subtract from the beginning price Seems simple enough... So why does my head hurt now?? I thought I read X's and O's can't be in the same column... Yet, there they are... And I didn't read anything about those red letters and numbers.... Guess I didn't read enough yet
There shouldn't be Xs and Os in the same column. Hmmm, seems stockcharts.com is buggy. Here is the same settings using tradingview.com: Edit: By the way, those numbers and letters used in stockcharts PnF charts are supposed to be the month, with A, B, C being Oct, Nov, Dec, respectively. So if a number occurs in a column of Xs, then the number is also an X.
Well now I feel LESS lost Here's another dumb question I haven't found the answer to..... On a 3 box reversal chart, how can an "O" be only one box down from an "X"?? If the price was $8 in the X column... An O shouldn't kick in until $7.25.... Even if the price got up to $8.24 (still in the $8 box).. The O can't be higher than $7.49 (still in the $7.25 box) Sorry... Didn't mean to turn this thread into a P&F tutorial
On a 3 box reversal chart, how can an "O" be only one box down from an "X"?? The rule is that a new column cannot be started until there is a 3 box reversal, however all 3 boxes are printed in the new column. So, for a 3-box-reversal chart there should always be a minimum of 3 boxes in a column.
