Natural Gas Comes Under Pressure

Now comes the real test. The futures boys are trying to kill the natural gas prices. The stocks act like death and could nowhere near rally back to even, as on top of all of that Chesapeake (CHK - commentary - Cramer's Take) files a huge 25-million-share offering after the bell.

Nightmare?

I don't know. Every time that Aubrey McClendon has done one of these deals -- the CEO of Chesapeake -- you have made a ton of money. I imagine that there will be initial pain as the futures sellers probably try to test $11 -- I know, really bad -- but I think that you need to see if this deal holds. If it does, the group is OK. If not, more pain. I bought the group today for Action Alerts PLUS. Rough day, but I think that the most important tell today was that Transocean (RIG - commentary - Cramer's Take) rallied on a big contract -- the numbers, the numbers, even as everything in the sector is in free fall.

Right now we are in a mode where everything but commodities is working. I wonder, given how oversold that group is now, whether, for a couple of days, everything can work?

Stranger things have happened.

At the time of publication, Cramer had no positions in stocks mentioned.

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