CHK, weekly, 4yr
Summary
*I went long CHK in the closing hour of today, from the 29.20s. Seeking a provisional exit in the 30/31 zone early next week, but will look to hold 'broadly' long until 33/34 in May.
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Oil and Gas remains a favourite sector of mine. A 'real industry', producing an essential resource for the world economy.
Forward PE for CHK is only in the low teens, and relative to the broader market, there is little reason why CHK should not be trading in the 40/50s.
see key stats @ yahoo finance
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Long term outlook is unquestionably sound, and this will probably be a $100 stock within 2 yrs. I'm looking for some kind of commodity mini bubble before the next economic up cycle completes..probably in late 2015/ early 2016.
