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STOCK: CHK

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1STOCK: CHK Empty STOCK: CHK Thu Apr 30, 2015 9:06 am

phoyce

phoyce

Yes, here goes Phil talking about CHK again.  Nah, I just wanted to make an official first post and disclose my intentions of the 10k shares I own and spoke about yesterday (via email to the 10gm).

I was going to cash out yesterday for a .25 gain ($2.5k profit, selling @ $15.10) as the market was closing but decided not to leave (so much) money on the table as I have a habit of doing; not in a greedy sense but just as dangerous, out of fear.  The fear we all experience when a trade is going with us or against us.  Most of the time, my little voice is saying, "Sell here!  Take your profit!  What if it starts going down from here?!".  I decided the technicals are too textbook to jump now and with the stock so heavily shorted I can easily get another $1k.

Glad to see it's up pre-market.  My plan is to sell between $15.25-15.35~ this morning.  If CHK fails to show the strength I expect to see I may end up selling 100 of the weekly Apr $15 calls in order to get a little cash, insure I'm called out tomorrow for a .15 profit ($1.5k) and hedge against the stock getting smashed in the next few days for some unknown reason.  Personally, I see CHK hitting $15.30 within the first 15 minutes of trading.  If the Nat Gas report is positive this morning (less inventory) CHK will go bang it's head around the 100-Day MA for a bit.  That said, I don't feel the risk/reward is worth sticking around to watch that happen.  I think CHK is going to have a hard time with it's next hurdle, the 100-Day MA should be key resistance until Monday's earnings announcement.  CHK may slice through the 100-Day today/tomorrow if we continue to see this (temporary?) strength in crude (currently up 1%).

I will update this post when I close the position.

Phil

STOCK: CHK Uygftye

Phil

2STOCK: CHK Empty Re: STOCK: CHK Thu Apr 30, 2015 10:05 am

StLBill



I have been in CHK since it showed up on a scan earlier and you posted your continuing interest in it.... my small stake buy-in was 14.47....I have a target price of 16.65....

3STOCK: CHK Empty Re: STOCK: CHK Thu Apr 30, 2015 1:22 pm

phoyce

phoyce

StLBill wrote:I have been in CHK since it showed up on a scan earlier and you posted your continuing interest in it.... my small stake buy-in was 14.47....I have a target price of 16.65....

Alas, I am not a full-time trader so while I was away from my desk my order was executed. Sold entire position for $15.30, a profit of .45/share or $4,500.00. The profit-taking this morning was expected especially on a gap up. Trade did not go exactly as planned (rarely they do) but the stock ended up behaving as the charts and price action predicted.

On to the next one.

STOCK: CHK Q3V34xf

4STOCK: CHK Empty Re: STOCK: CHK Fri May 01, 2015 12:53 pm

kannan19



Phoyce, Good call on CHK. Well done. Congrats.

5STOCK: CHK Empty Re: STOCK: CHK Fri May 01, 2015 1:28 pm

phoyce

phoyce

kannan19 wrote:Phoyce, Good call on CHK. Well done. Congrats.

Thanks! I make a decent call every once in a while. Wink

Seriously though, I will never post a trade idea that A.) I'm not personally invested in or soon-to-be invested in and B.) One that does not have a high probability of success. I would feel pretty bad if someone lost money because of poor analysis on my part.

After combing through some interesting data and charts today I'm hoping to post a couple more winners. My powder is dry and I'm looking forward to May's action. I will definitely be putting some money to work first thing Monday. Nothing better than the volatility this market is demonstrating. $$$$

6STOCK: CHK Empty Re: STOCK: CHK Fri May 01, 2015 1:57 pm

StLBill



Just sold my 100s at 16.7017 on a trailing stop set at 16.65.....

Thanks for the recommendation..... may go higher yet, but happy with my $223 profit

7STOCK: CHK Empty Re: STOCK: CHK Fri May 01, 2015 2:03 pm

phoyce

phoyce

StLBill wrote:Just sold my 100s at 16.7017 on a trailing stop set at 16.65.....

Thanks for the recommendation..... may go higher yet, but happy with my $223 profit

Congrats sir!

I love it when people make money. Your attitude is even better, "may go higher yet, but happy with." I may have to get that tattooed on my forehead and place a mirror behind my monitor.

8STOCK: CHK Empty Re: STOCK: CHK Fri May 01, 2015 2:14 pm

StLBill



believe it was attributed to Rockefeller says he made his money by selling too soon?

9STOCK: CHK Empty Re: STOCK: CHK Fri May 01, 2015 2:36 pm

phoyce

phoyce

StLBill wrote:believe it was attributed to Rockefeller says he made his money by selling too soon?

Had never heard that one but it's a gem. Found it:

“I made a fortune getting out too soon.” - J.P. Morgan

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