Back In Chesapeake
June 19th, 2006 by Grant in: InvestingLast week I bought back into Chesapeake (CHK: chart) after Jim Cramer suggested that the new IPO’s in ethanol may take the wind out of their sails. Thursday and Friday proved to be good days for oil and gas stocks, and while natural gas inventories were up, they failed to meet expectations.
The oil and gas sector is down in early trading today, but I’m bullish on natural gas producers now that we are in hurricane season and warm weather temperatures will require increased electrical capacity provided by natural gas fueled power plants.
I’ll continue to watch the sector, but over the next few months I believe natural gas is a good bet.
Disclosure: Long CHK.
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