I am not sure if this is the best place for the post, and I am sure some are going to disagree with my analysis, but....
I am a big speculator in oil right now, and not in futures, mostly equities. CHK has been one of my favorite to ride, and I have made a bundle off of this stock. That doesn't mean I couldn't lose a bundle too, I am just familar with the stock and the way that the 93% of institutions who own it act and liquidate their holdings at certain points.
I love the play on natural gas for an ultra long, I am a scalper in sometimes but when I can double my money and go long with a reserve cash flow set aside - I do.
My target price range for CHK this or next week is 22-23 with a stop of 17.55...I got in at 17.25 with 100 shares, 17.50 with 50 shares and 17.63 with 100 shares, doing trend accumalation strategy. So far so good, earning will tell alot but judging from my gut and the graph, its going to turn up soon.
This what if picture shows my thoughts on this swing/long trade, knowing most in here are not longs :-)
Last edited by tr3nt; July 14th, 2009 at 12:06 AM.
Thank you for your posting + charts !
If you like to do this regulary with trade-results + daily or weekly comments on it - we better move it to the section "Journals and Daily Charts" .
If its just a new trading-idea to discuss it stays here in Traders Hideout.
Looking forward how to more of this kind