An SA editor apparently has tried to say/imply that $CHK
had a blow off top today. This is unlikely to be true. It is far under valued by many measures at today's oil prices. Many are predicting oil prices to go higher near term. If they do, $CHK
will surely go higher. Otherwise $CHK
remains a growth oil stock as long as prices remain above $55/barrel. CHK will remain profitable with oil above $40 or so according to its most recent documentation. CHK has gotten a lot more efficient with money and time in recent years. Plus its relatively young Powder River Basin field is proving to be great; and CHK has not even begun to tap its truly great stacked resources yet. Then too CHK still has far too much short interest for people to stop buying at this point. In other words, unless oil starts falling dramatically, CHK should continue to go up to at least $10/share by year end. It has much higher upside longer term. It may have higher upside shorter term. However, it may need to produce any number of further good to great quarters to get everyone to believe that.