After the takeover bid for Burlington Resources (BR) was initiated by Conoco-Phillips (COP), I have become increasingly more confident that Chesapeake Energy (CHK) will follow the same path.
I originally found CHK a few months ago as I browsed through my daily list of insider transactions. Even at current prices, Chesapeake insiders continue to have an insatiable appetite for their stock.
On December 15th, CEO Aubrey McClendon bought another 50,000 at prices of $33.90-$33.94. From December 14th thru the 19th, Chesapeake insiders have bought a grand total of $48,886,453 worth of stock at prices ranging from $31.46 to $33.94.
Insiders have been huge buyers of the stock. I am looking for a tidy profit in CHK shares in the weeks ahead.
Comments (2)
Hi John:
Appreciate your daily insightful comments on the market and individual stocks.
1) i would appreciate if you can list a couple of good agressive stocks that you like for year end rally or even small rally for the begining of next year. If you know any.
2) About CHK. i know you have been commenting about insider purchase. But isn't it illegal to buy your company shares based on possible buyout of your company? I am sorry i am not too familiar with insider trading trasaction.
thanks and keep up the good work.
Shawn
Posted by shawn | December 20, 2005 5:13 PM
Posted on December 20, 2005 17:13
John:
Also i forgot to mention this stock for a huge insider trasaction.
MWY-midway games..the insider have been buying since this stocks was in 10s..and now it is 20 bucks..do you think it is a good company that you would add in your portfolio?
thanks for your comments.
Posted by shawn | December 20, 2005 5:14 PM
Posted on December 20, 2005 17:14