EDGE TRADER

Wednesday, October 19, 2005

Energy Action

The CHK 5 day chart shows the kind of energy action I've been keeping my eye on lately, involving a buy in late morning, and exit prior to close of trading. I would have made a profit 2 days, with one breakeven (Monday), one ritual decapitation by the NYSE floor denizens (yesterday), and today I would either have made great money or gotten stopped out depending on how good my timing was.

It does show there is money to be made out there, though. I am of course just jawboning since my money was not there to back this up... I am still a little timid to play NYSE positions in this market. Others in the energy sector have similar charts, although this one was my favorite of the stocks in that sector I follow.

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