keithpiccirillo

Chesapeake Bites McLendon

I had CHK going up along with PBR and got out near the top.
Bad news is I rode DVN down almost as much.
Nattie has been having problems recently, demand destruction, contrarian television ads of Pickens & Aubrey, etc.
Kenneth Heebner's of CGM Focus recently remarked CHK had been one of his holdings.
CHK is up 20% today, with a 29.9% short ration-so clearly that boat sailed late last week. A pullback to attractive levels may be in the pipe, but I would certainly establish a position well before we elect the next president before it regains its mojo.
Good post as always.