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TheStreet Open House

You Ask, Fitzpatrick Answers: Chesapeake, Transocean

Updated from March 17

Throughout the trading week on Stockpickr Answers, investing professionals answer questions posed by members of the Stockpickr community.

Tuesday, Dan Fitzpatrick ( RealMoney contributor) responded to a range of market and trading questions.

Here are a few of those questions and Fitzpatrick's answers.

  • What are your key current resistance and support levels on the S&P 500?

    In this market are you more in favor of playing with the sector ETFs vs. individual names? Hedged long/short?

    Or what would be your best way of playing in a very hard market... knowing that you have to be nimble and flexible?

  • Fitzpatrick: 800 is the ceiling on the S&P. 650 is the floor. I see the S&P trading sideways deep into the summer. To read more, visit

  • What do you think of the PowerShares DB US Dollar Index Bearish Fund an ETF (UDN) as a way to play the weaker dollar?
  • Fitzpatrick: I like UDN as the best way to play the dollar. To read more, visit

  • What's your favorite price pattern to trade? Is it your favorite because of its risk profile, potential for explosive profits, consistency in making profits or some other reason entirely?
  • Fitzpatrick: Depends on what the market is doing. Flat triangle breakouts work quite well, when the market is either oversold or just starting a trend that is sustainable. To read more, visit

  • Natural gas has been a laggard here, but the Chesapeake Energy (CHK) chart is kind of sneaky good. Or is there another nat gas play you like better?
  • Fitzpatrick: I like CHK the best. To read more, visit

  • How do you feel about oil here, as well as the major players (Exxon Mobil (XOM), ConocoPhillips (COP), Transocean (RIG), etc.)?
  • Fitzpatrick: I continue to like oil. I disagree with the experts who say there is no such thing as a triple bottom. To read more, visit

    Do you have a question for Fitzpatrick? He will be back on Stockpickr Answers on Tuesday, March 24.

    Who's on Stockpickr Answers Now?

    Wednesday, March 18: Tim Melvin

    Who's on Next?

    Thursday, March 19: Richard Widows

    Friday, March 20: David Peltier

    To post a question on Stockpickr Answers, you need to be a member of the Stockpickr community. If you're not a member, you can join the Stockpickr community now -- for free.

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