Re: CHK and money flows ... I have posted on several occasions, here and in the Boom Boom Room that there is systematic selling going on with CHK.
There has been a lot of talk about the huge amount of insider buying going on and so far, I'm the only one that has talked about the professional selling to offset that huge buying.
I first brought that systematic selling up back on October 9th of last year.
On the chart that follows, only 3 colors can appear on the price chart. Red, yellow or green. Red is systematic or professional selling, Green is systematic or professional buying. Yellow is neutral. This is called the Balance of Power indicator. (Balance of Power explanation.)
Message 20785345
And the chart from last October:
ttrader.com
Here is a chart I posted back in November. Note the topping tails. That was supply coming to market on rallies.
stockcharts.com[h,a]waclyiay[d20041128,20051128][pb40!b20][vc60][iut][J60438349,Y]&pref=G
Now let's update the chart:
stockcharts.com[h,a]waclyiay[d20041128,20060113][pb40!b20][vc60][iut][J60438349,Y]&pref=G
We are still seeing those topping tails. Someone continues to sell the rally days.
So far, we have seen enough demand to offset that supply coming to market.
This is also why CHK is underperforming most of the other energy stocks.
The daily chart of CHK is showing the 20 day moving average turning over. Price had better hurry up and move up if the short term trend is to continue.
Daily chart:
stockcharts.com[h,a]daclyiay[d20051013,20060113][pb50!b20][vc60][iut][J60438349,Y]&pref=G
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