Down goes the Dow

Jerry,

Wall Street's view is the 2016 S&P price target 2175, my target is 1500. So, no it is not my narrative.

Have a beer, chips and mango salsa.

Igy

So you admit there are differing opinions from the Street. Fine.

Jerry,

There is Wall Street that is a wholesale industry for retirement plans, pensions, mutual funds, ETFs, IPOs and various other products that can be identified by dollar volume. There are thousands of financial advisors that work for firms that can be classified as Wall Street companies. Largely these financial advisors are linked to their clients more than they are to their firms. I fall in the later category.

Igy

I'm not really a market timer and CHK is REALLY not my cup of tea:

Growth

1 Year Return %: -69.56% 5 Year Revenue Growth %: 36.28%

3 Year Return %: -125.16% 5 Year Earnings Growth %: -106.78%

5 Year Return %: -86.59% 5 Year Dividend Growth %: -40%

Per-Share Information

Most Recent EPS, $: -0.16 on 02-24-2016

EPS Growth vs. Prev Qtr -220.00%

Annual EPS, $: -0.21

EPS Growth vs. Prev Year -245.45%

The way I see it, you got bailed out by Janet Yellen and the trend would turn decidedly negative on closes below yesterday's low. So put a stop around $3.90 and let 'er rip. Looks to me like the correction in metals and energies is about over (or totally over). Remember that the fracking industry has $101 BILLION in junk bonds outstanding, and I strongly suggest downside protection (stops) for a stock like this.

You are paid by Wall Street. Your allegiance obviously lies there.

Jerry,

OK believe what you want.

If, just if you have a job, you are paid by someone.

That is just an ignorant comment.

Igy

I'm not stupid and neither are you. Your allegiance obviously belongs to your employer.

coach d,

Similar company Linn Energy (LINE) was downgraded yesterday with a eminent bankruptcy likely. I would lump CHK into the "lottery ticket" category.

You may hit the jackpot or go broke. "Place your bet on numba nine."

Igy

If, just if, you have a job then you do too.

Igy

Of course. Despite your insults, I'm not stupid.

Jerry,

Don't get your feathers ruffled, I never said you were stupid. You just infer motivation to me, and act as if you can't be motivated the same way. How fair is that?

Igy

I never inferred that I'm not motivated by a paycheck from my employer. Of course I am. I admitted as much. So are you.

Again you feel the need to put words into someone else's mouth. That's a huge character flaw.

Maserati wrote:

The DJIA is now at a level significantly above 17k that unless it comes back down throughout the remainder of the week, I will have to revise my 2016 upper estimate to...who knows where. Above 17k, that is where. It looks like Hillary will win the nomination, and since the fix is in, likely the election as well.

P/E be damned, Igy. I could see this sucker going into record territory this year.

I will see what happens throughout the rest of the week, and act accordingly. If I buy back in, I will have missed out on about 500 points of gain, but it was worth it for the peace of mind. And I'm still not convinced, but soon I might be.

See the McClellan Summation index on Stockcharts.com. I have talked about this before during this month, and we are in the midst of a breadth thrust like we have not seen since at least 2012 and possibly 2009. The McClellan Oscillator itself already posted the largest number since the start of this bull market in 2009. The large commercial traders in the commitment of traders reports for the SP500 futures are long and staying long (+44,000 contracts). It appears now that the commodity deflation that has underpinned this correction since August has at least been alleviated if not outright reversed.

This move has legs.

Jerry,

You have a point of view. I have no intention of putting words in your mouth.

The facts are quite a bit different from your beliefs.

Igy

coach d,

George McClellan organized the Army of the Potomac. President Lincoln upon months of non-committal of McClellan's troops, described the general as "having the slows." U.S. Grant ascended as the general of choice by his willingness to commit to the engagement.

I will remain commited to the belief that this market ends very badly.

Igy

#ignoreigy

#downwithnarcissists

#growapair

Ghost of Igloi wrote:

coach d,

George McClellan organized the Army of the Potomac. President Lincoln upon months of non-committal of McClellan's troops, described the general as "having the slows." U.S. Grant ascended as the general of choice by his willingness to commit to the engagement.

I will remain commited to the belief that this market ends very badly.

Igy

I'm want to assume that the troll wrote this until/unless I hear otherwise, because the person who wrote this is incompetent as a market strategist and is either a troll or a fraud.

The McClellan Oscillator and Summation Index was invented by Sherman and Marian McClellan in 1969. It is probably the best known market breadth or money flow indicator in existence. This is a well-known indicator and the comment quoted above is a sign of a significant lack of knowledge. Someone even modestly intelligent could have simply looked it up on Wikipedia.

coach d,

Sorry coach d, that was my attempt at humor. I know what the McClellan Indicator/Index is.

Good luck width your longs, I am adding to my shorts.

Igy

you have a very odd sense of humour

speaking of which, we are still waiting for your apology regarding your hurtful Caitlyn Jenner comment