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Monday, November 2, 2009

Trade - CHK

Nat. Gas is getting interesting again. With the recent consolidation in the commodity, the equity names came down. In particular, CHK has entered a level and state of consolidation that caught my eye.

CHK is oversold around support, and even if it breaks down at current levels, fundamentally it is worth over $24/share.

Nat. Gas may decline some more, and may continue to bring down the related equities.

Irrespective however, CHK merits an initial position at this point. And I will probably enter a position in the AM tomorrow.

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