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Correction: Title Should Have Read Sell Chesapeake And Southwestern Energy.

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Summary

  • I am being sarcastic.
  • CHK and SWN in shakeout mode again!

Chesapeake (NYSE:CHK) and Southwestern Energy (NYSE:SWN) are taking it on the chin this week in direct contrast to my buy opinion

I am buying SWN on this shake at $5.10 with orders in at $5.08 and $5 and $4.9. There is no reason for this other than weak handed players that bought the spike. Possibly on my article that got 50K hits.

I feel bad for investors that are down by buying my recommendation, but I warned not to go heavy on margin. Unfortunately these alogrithms and supercomputers know when weak handed players are on margin and they will push stocks in you portfolio to force you to sell.

Any thing can happen when stocks retest bottoms and that's what traders are facing this week.

Here is a 6 month daily chart marking a 3 year bottom.

Make your own decision on whether to buy or sell.

Wait for the bottom at $4.90 if you think it is going there. IF you can't take a new low then get out.

I will be buying if orders are hit.

Have a great weekend everybody.

Maybe next week

Analyst's Disclosure: I am/we are long chk SWN.

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