Haynesville Shale - Jim Cramer on CHK Chespeake Energy and Natural Gas

Jim Cramer said on the " Stop Trading " segment of CNBC last week that Chesapeake Energy's ( CHK ) decision to cut drilling by 17% would likely be a bottom for natural gas. Cramer also said several months ago Natural Gas was going to bottom at $8 and we hit $6.50. Cramer also said the stock market bottom was at 10,850 ( the July 15th Lows ) and we have since broken through that.

I'm not sure where Chesapeake Energy will cut drilling....will it be the Haynesville Shale, Marcellus Shale, or Fayetteville Shale? Or a combination of them all.....but Natural Gas does appear to be bottoming lately...many weeks after Cramer tried to call a bottom.

Once the stock market stabilizes and stops tanking every week, Oil and Natural gas will start to move back up higher. The problem is, so many hedge funds that own energy stocks are under water and are forced to liquidate these positions due to the redemption's or what have you.

I can tell you though, once the Dow, NASDAQ, S&P stabilize, these commodities will soar back up....especially in the beg of 2009.

Whether Jim Cramer will be right or not on CHK, we will find out soon. He has been dead wrong recently though on many bold calls. He needs to stop trying to catch falling knives and wait for a confirmation bottom to both the markets and energy prices. The problem is, he trys to call these bottoms but you will never hear him tell you he was wrong. He only tells you when he is right! Yikes!
www.oilshalegas.com

CNBC Fast Money Recap June 10th 6/10 AAPL WB

CNBC Fast Money Recap 6/10/08
For the lastest show ---> http://blackberrystocks.com/fastmoney.html

Fast Money Stocks 6/10/08

Jeff Mackie: Opinions
Lehman LEH: Broke support on the second day of offering it
Apple AAPL: Got alot of upgrades today
Goldman Sachs GS: Still waiting for GS in the $150's to buy

Tim Seymour: Opinions

Asian Markets: If these markets start to roll over look out....we need them
Monsanto MON: This company is in good shape! Still love the Ag sector

Guy Adami: Opinions
Dollar USD: Has reversed and I think it will continue to go up!
MRK: MRK trade now off...have to wait for another big volume day
Apple AAPL: Thinks you could see $200 by late June, Early July....thinks there is still upside in this stock ( said 10%)
Wachovia WB: Keep a stop at $18 but I think you can buy it here
XTO Energy XTO: It's been a monster stock....wait for a pullback...still like the stock
Alcoa AA: I love AA still!
Monsanto MON: It's been a monster stock, I think it continues to be a monster stock

Karen Finerman: Opinions
Coal: Coal valuations are very high and they are starting to roll over

Joe Terranvoa: Guest
I'm out of the refiners.....I'm expecting gasoline to be under pressure after the inventory number tomorrow. My concerned on what comes out of Russia regarding Oil supply. Longer term Oil will move higher and the window of opportunity for a pullback is closing day by day. If we don't get out of this week with a pullback in Oil....most likely it will move higher

Tony Crescenzi: Guest
Tony thinks a 500 point rally in the Dow is coming