Insiders have to eat, buy homes and cars, and diversify their portfolios. Selling means nothing special. It's when insiders buy, like with CHK, that it is meaningful.
$4 NG will come soon enough. Even shorty can't hold the price down much longer. The west coast is cold, the Midwest is getting colder, soon even NY will be cold. We could get snow tonight in Seattle. Too early.
Shorty is making a big push to make investors sell at this level. Time to get out of CHK is a doozy. No articles about the two recent insider buys of 50K and 10K at higher prices. Yahoo hasn't even recognized them yet on the insider buys section. It looks like shorty has everyone on the payroll.
Saudis know that they don't have the support of most of the members. They will declare victory and comply with the wishes of the majority of members.
He didn't bother with borrowing shares since last Thursday. Saudis talking about production cuts. NG production down and consumption going up. Winter is near. Freezing temperatures in California. Warmer in NY than California. The Midwest getting cold too. Shorty has a mess on his hands.
I don't, but it is 29 degrees this morning. Average low this time of year should be closer to 34-35 around Seattle. But the Midwest is a different story. Chicago: low 17, high 37 with snow and rain. I lived near Chicago much of my life. Fairly early snow and cold for this time of year. Shorty, El Niño won't save you. It creates nasty weather followed by a few days of good.
Shorty hit energy futures, did something to CHK bonds, and attacking share price. But it won't help him. He's got to contend with too many short shares and winter. Last weeks injections were small. The next report will be nil to negative. This weeks push had to happen to distract others from the low injection rate and insider buying.
So far a wet, wet fall. Last year's El Niño created a drought. No drought now. Reservoirs are filled. Flooding conditions. Mt Baker ski slopes opened early with 3 feet of snow. Others will follow soon. Far more rain than in a normal year here. September average temperature was 4 degrees cooler than last year's. October was the same average temperature as last year's. So far this month is running colder than normal average yearly temperatures by around 4 to 5 degrees. We had a freeze last night, early. Some areas got a spitting of snow the other day, again early. So far a nasty fall. Where's that El Niño? Where's that warmer and drier weather? Not within sight here.
It's big shorty's lackeys. Not the brains of the outfit. They can hardly string two words together.
Rich people buy for one reason, to make money and not to lose it. Carl probably bought today. At the beginning of this month he said that he was going to eventually buy. It's as good a time as any to buy. 31 million shares traded today for what reason? No reason other than shorty caught another chunk of shares with another 10% stop loss order. I can't believe that traders continue to put stop loss orders out there for shorty to pick off.
Also, energy consumption is rising in the USA. Electric power plant conversions coal to gas continue. Even though many things are now more efficient in homes, tv and computer screens are not. This from a recent report:
UHD TVs -- sometimes referred to as 4K -- can display four times the resolution of current high definition screens.
Newer 4K TVs also use 30% more power than high-def models on average, according to a report from the Natural Resources Defense Council published Tuesday.
"Americans' residential energy bills could rise by more than $1 billion per year if all televisions larger than 36 inches transition to 4K at today's average efficiency," the report said.
Feed a cold, starve a fever. Feed high prices and starve low prices. Oil could still hit $70 per barrel by year end. The Saudis and Kuwait already cut production in the last OPEC report. More is coming with the OPEC meeting looming. So far the oil war has been a $500B mistake. OPEC members are going to wait for a trillion dollar mistake? No way can the Saudis convince members. Only a 15 Bcf NG injection last week, should be negative in the next report.
By the way, nasty weather continues here in the pacific NW. Mt Baker skiing starts today. Early. If you can get there. One lane of the road is washed out