Tuesday, October 25, 2005

Goldman Initiates Coverage on Chesapeake Energy (CHK)

Goldman Sachs initiated an "in-line" recommendation on Chesapeake Energy (CHK). I bought more shares above my cost basis yesterday and have a nice 6% gain from that trade. I will continue to hold CHK in my portfolio until I feel that the stock is overvalued. The price of natural gas is also up over a dollar today, which also contributed to the spike in stock price. I will reiterate that energy stocks should have an overweight (Greater than 10%) weighting in your portfolio, especially after they have sold off 10-25% from their highs.


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