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View Full Version : CMG-Short and Possible CHK- Long



Dave Landry
04-12-2013,
This stock looks like could be setting up for a short. The chart finally broke its uptrend and fell below the 20 dma on heavy volume. I'm hoping it gaps down on Monday morning and would like it to continue lower on heavy volume. The 50 dma is right around 405 so it may bounce there. I bought some July 420 Puts on Friday at $1760, so if this breaks the 50 day ma I would be very happy. This stock has a lot of support, so who knows.

Also on the watch list: CHK. Stock is really beaten up and looks like it should still go lower. It has historical support around 16.75 or 17.00 area so it might be good to go long there depending on if it holds support. I'll be watching this one closely for possible buy next week for a short term pop.