omarason

Chesapeake Energy: Truckin', Like the Do-Dah Man

The last time CHK did a secondary offering, the stock went on a 10% run throughout the following month. If you believe in technical analysis, secondaries typically signal the bottom of a move. At a 50% retracement (68-58), you're looking at a price level close to the $63 range by the end of the month. That's still a +50% move YTD. I'll take that in this market. So should you.