CHK Completes Reversal Pattern

 Hey Trader, The market continues to be on shaky ground as the Nasdaq and the S&P 500 are about both down between -1.5% and -2%. The market didn't hold the gains from Wednesday's rate hike and has rolled over ever since. We don't know which way the wind will blow from here. It is a sucker's game to try to predict. But I think we have been very wise by trading less for a couple months and being incredibly selective. Year to date the Nasdaq is down -24% (if you include pre market) and our Weekly Reversal Trades have won 10 out of 15 (66.67% win ratio). I will take it:) Imagine what we can do with some wind behind our backs. It's important to remember that the market bottom can be any day and always bottoms when news is still all doom and gloom. I will continue to advise you to trade the charts, not the talking heads. There were a lot of reversals on the scanner this week (54 to be exact). The good news is the list was pretty diversified across various industries. Energy definitely dominates the strongest stocks on the list though (no surprise). Even though we have an abundance to choose from.....I think it would be wise to see what the market does today before taking the plunge. When the market is under the 200 day SMA I am incredibly selective to ensure we are being picky with our trades. I prefer profits over picks. When I narrowed down the list, this week's winner was Chesapeake Energy (CHK). The stock gaped up over 7% on earnings last Wednesday and is looking pretty strong at the moment before reversing off the high on Friday. [>>SEE CHK CHART]( Fundamentals have been spotty for this company the last couple of years. That's normal for commodity stocks. However, a couple things stand out. #1. Mutual fund ownership has increased from 396 to 694 in the last 12 months. That is a significant increase #2. Return on Equity is a whopping 635%. The company is well run and institutions are voting with their dollars. Due to the pre market action I am going to hold off a day or so before entering this trade. No sense in catching a falling knife. If the market is showing support we will hop right in. Want access to my Top Performing Retirement Income Strategy? See what trades are currently in our portfolio and get access to access to my next alert! Get Immediate Access to: -Weekly Reversal System Course -Weekly Reversal Alerts -Brand New Scan Codes -Swing Trade Set Ups Blueprint $100 OFF The Weekly Reversal System. (Use the code: OURGIFT100) [>GET STARTED HERE<]( Just reply to this email if you have any questions:) Trade with a PLAN!!! Sincerely, Steven Cawiezell support@thetradersplan.com  Disclosure:  You are responsible for your own trading decisions. ALWAYS, do your own research before investing in any of the above securities. This is not a solicitation to buy/sell ETFs or securities. NEVER invest money in ETFs or stocks that you can't afford to lose. You can lose all of your capital by trading any securities mentioned. These ETFs/securities are very volatile and gain and lose value quickly. We reserve the right to freely trade in any mentioned ETFs or securities. We are not compensated by any mentioned companies. We recommend ETFs and securities based on our opinion of intrinsic/possible future value only. We are not registered investment advisors, so always do you own research before buying any recommended securities. Sent to: {EMAIL} The Trader's Plan Publishing, Main Street, Russellville, Arkansas 72801, United States Don't want future emails? [Unsubscribe](