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Chesapeake Energy = High-Stakes Poker

EOG Resources
  • Revenue expected to be up 9.30% this year and another 14.20% next year
  • Earnings estimated to be up 30.30% this year and another 28.50% next year

Devon Energy
  • Revenue expected to be down 6.90% this year but up 12.80% next year
  • Earnings estimated to be down 15.30% this year but up 29.50% next year

  • Revenue expected to be down 22.50% this year and down again by another 6.60% next year
  • Earnings projected to be up 61.00% this year and down 70.10% next year

Summary: This is a high-stakes poker game I'll just watch, but not buy into. I'm an investor not a speculator. I want stocks with double-digit projections of steady growth in both sales and earnings plus a solid balance sheet -- and I don't see that here. If Icahn and the institutional investors are right, the short sellers will all be covering their short positions and the stock could see a bounce. If you want to play, be nimble and watch the 20-day moving averages and the lower 14-day turtle channel for signals:

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Jim Van Meerten does not have positions, long or short, in any of the stocks mentioned in this article.
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ECA $6.53 -12.00%
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EOG $80.61 -2.60%
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