Chesapeake Energy Corp. (CHK): Jim Cramer Opinion

By Andrea: http://oilshalegas.com

August 11, 2010: Jim Cramer featured Chesapeake Energy Corp. (CHK) last night on Mad Money and is convinced that the stock is a strong buy. With Chesapeake's recent 2010 Q2 earnings report and announcement that they own the largest acreage in both the Eagle Ford Shale and the Niobrara, they may have finally carved out a bottom according to Cramer. Cramer rallies for the stock based on Chesapeake's recent debt deal they completed in addition to the 14% production increase they noted in their 2010 2Q earnings call. However; the stock is not getting the attention it deserves, says Cramer. After its huge fall in the past few months, investors are afraid to touch the stock. Cramer takes us to the charts and points out the "W" in the stock's trend, a series of higher lows over a period of time. Cramer may be ready to regain his credibility when it comes to Chesapeake Energy:



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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!
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CNBC Fast Money Recap 5/29 5/29/08 Dell - Visa

Fast Money Stocks 5/28/08
Jeff Mackie: Opinions
Thinks Oil is Topping
Buy Oil when its down $5-$6 in a day
Likes Merck here
Mackie owns Microsft MSFT
TRMP.....not buying it

Guy Adami: Opinions
Possible Oil Top
Dell is running the business better....big run, don't pile in...take profits
Likes Intel at $21-$22 ....likes it long term
Mastercard......big run...do not buy...easy money is over
Thinks you might have seen the bottom in Financials
Joy Global JOYG numbers were great.....buy on any pullback along with BUCY
Merck is cheap...you buy and stop out below $36.50
Buy Microsoft because its cheap
BUY TSO

Pete Najarian: Opinions
Oil Didn't break down yet but pulled back...below $120 is a breakdown
Sell Dell into this rally
Google impressive click numbers
Visa is still a BUY....
Norfolk Southern.......cheap stock
Still loves the coal stocks....JOYG, BTU, BUCY
Boston Scientific is a Buy
CHK CEO bought 600,000 shares.....Najarian likes this alot!

Karen Finerman: Opinions

Likes the Financials right now ..... Although shes not sure where the bottom is.
Big Lots BIG.....shorted today....not buying the run up at all
Likes C - Citigroup

Joe Terranova Guest: Opinions

Thinks Oil could test $120 Support
$120 Break in Oil could spark massive selling

John Najarian: Opinions

Likes DRI Darden, Kelloggs, Starbucks SBUX...they are hedged for inflation

Jim Cramer Mad Money 5/28/08Jim says he likes: Illinois Tool Works Inc. (ITW)