CHK - new multi-decade lows

With the broader market closing significantly weak, Chesapeake Energy (CHK) was smashed lower (intra low $4.69), settling -11.9% @ $4.86, the lowest level since 2002. Near/mid term outlook for Nat' gas - and related stocks remains bearish


CHK, daily

CHK, monthly

Summary

Suffice to note... the Nat' gas related stocks remain an utter train wreck.

CHK was trading @ $29.37 in July 2014. Today's move to the mid $4s just continues a trend that looks set to last into 2016.
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*I have no position.. but I do keep a close eye on CHK. Considering the current price, Mr Market sure is suggesting the company faces severe problems.

If CHK can survive the current multi-year collapse in Nat' gas prices, I'd imagine it will eventually be a takeover target... but for now, CHK looks overly risky... and I have no intention to get involved.

CREE - continuing to climb

Whilst the broader market closed significantly lower, there was notable significant strength in Cree (CREE), which settled +1.1% @ $28.15. There is strong resistance in the 28/30 zone. The bigger monthly chart is offering upside to $40 by late spring 2016... if sp' can push to the 2300s.


CREE, daily

CREE, monthly

Summary

*a short update to follow up a recent post.
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Suffice to say, Cree is looking strong, having climbed from the $22s to 28s in just a few weeks.

A key multi-year floor looks to have been achieved, and now its a case of whether earnings in Q1 come in fine, if so.. then broader upside across spring 2016.

DIS - turning back upward

Whilst the main market closed significantly higher, there was notable strength in Disney (DIS), which settled +1.6% @ $115.34 (intra high 115.46). Near term outlook offers upside all the way into early 2016. A break above the Aug' historic high of $122.08 looks due.


DIS, daily

DIS, monthly

Summary

The daily candle is of the inside-day type.. offering a clear turn. Will need to see the $116s on Wednesday to confirm.

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*I am long DIS from yesterday (IN @ $114.00).. seeking the 117/118s before the Friday close. I'll try to trade in/out of DIS in the months ahead.
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Broadly, DIS looks set for the 120s.. and far.. far higher.


.. and lets not forget the Star Wars hysteria that is set to go exponential in a few weeks...

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The fans are not going to just see this movie once... they'll be there once a day for a few weeks.
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It would seem some are even more bullish about DIS/Star Wars than yours truly :)