Comments on: Natural Gas Correction Proves Profit Taking Always A Good Thing

By: kevin duffey

kevin duffey — Thu, 24 Jul 2008 12:47:55 +0000

torbjorn:

Thanks for the comment. I always trade in “chunks” of my position, where my total position in chesapeake may be somewhere in the 6-8k range, and I just picked up another 2-3k worth.

Chesapeake along with Apple has been my largest positions. My next largest is PM.

Keep making moves, right?!

By: torbjorn

torbjorn — Thu, 24 Jul 2008 00:49:43 +0000

it’s a pretty rowdy stock, one that’s good for swing trades. remember too, and I just learned this lately, that NAt Gas will basically follow oil prices, if not later – and at a more volatile rate. which makes it a sweet pickup when the time’s right.

i see myself picking up some CHK after two up days…it’s becoming massively oversold, and is now fondling its 200 DMA, which in the past year has been its support point.

great blog. I’m a recent follower and I like the fact that you’re going balls out and more or less public with your positions.

one question with a simple answer, are you trading more than $2000 per position, roughly? cause that helps me (as a reader assessing my own goals) factor in if we have similar styles.

By: SBF

SBF — Thu, 24 Jul 2008 00:49:16 +0000

Oil/gas alwasy makes a correction in the summer months. I don’t think we’ll see $100 or below this year (or next). Kevins got it right, buy a little now and watch for another chance to get in!

By: Chris

Chris — Wed, 23 Jul 2008 21:28:58 +0000

No criticism here, in fact I would have probably sold a little earlier and missed more of the top just because I get scared once it goes parabolic. I just think you started buying again too early, but long term you will be fine. If oil gets under $100 I will probably be a buyer of CHK