CHK was a great trading stock today.\u00a0 Proudly I can announce that are young traders killed CHK today.\u00a0 And CHK was particularly profitable trading the stock off of an important intraday level today at 71.35.\u00a0 CHK was up a ton and then started to show weakness.\u00a0 After the oil number was announced CHK failed at the 72 level, traded lower to 71.35 where ISLD held the offer after being test for size.\u00a0 A ton of volume was done at 71.35.\u00a0 If you were watching this stock trade you would have recognized that more volume was done at 71.35 than at any other price right after the number was announced.\u00a0<\/p>\n
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There was a great short\u00a0opportunity when 71.35 held the offer the first time,\u00a0a few great trades long when CHK held above 71.35, a great short when 71.35 could not hold, and a great short when CHK traded from 69.33 to 71 and slowed.\u00a0 71.35 was your level to trade off of in CHK today.\u00a0 Look for these levels.\u00a0 Get short if the resistance level holds and get long if the resistance level is broken.\u00a0\u00a0 This is a play you should all have in your trading playbook.\u00a0 As we like to say, “It’s the volume, stupid!”\u00a0 And well done by the SMB new traders!<\/p>\n","protected":false},"excerpt":{"rendered":"