CHK

[Melf Elf]

2006 has been a consolidation of the BIG gains in 2005.  Chart looks good.  Solid company.  As far as I know, insiders continue to buy. 

If the $33.00s get taken out to the upside, and it looks like they will, I'd expect CHK to return as least to the 40.20 high in 2007.

33.76 - 26.81 = 6.95 Points + 33.76 = Target: 40.71

Breakout today for CHK. 

[Melf Elf]

Bought CHK near the open, at 32.83.  Stop: 31.29, below the low of the Ascending Triangle.  Risk: a loss of 4.7%.

Sold CHK at 32.32.  Loss: 1.6%.

My stop wasn't hit, but CHK gapped down below the Ascending Triangle breakout on news of a company stock offering.

CHK probably is fine, longer-term.  I'm not interested in holding it, technically.