This is good news.. isn't it?

Everyone in the sector got killed. From Google Finance:

Symbol Last Trade Change

GDP 49.83 -4.83 (-8.84%)
PXP 56.72 -3.28 (-5.47%)
APC 59.76 -3.08 (-4.90%)
DPTR 18.61 -0.99 (-5.05%)
NFX 52 -1.57 (-2.93%)
PLLL 16.51 -0.48 (-2.83%)
FPP 3.22 -0.18 (-5.29%)
GST 2.02 -0.10 (-4.72%)
PXD 60.15 -3.24 (-5.11%)
OXY 72.22 -4.78 (-6.21%)

Insider activity like that is good, but not in the face of energy price frenzy.

I really think it is a short term response to the current energy bubble, and I will be buying on this dip as I beleive we will be challenged to solve our global energy problems for years to come .

I was buying into the finacials over the past few months as they were getting beat down and now that they are on the rise, i suspect many traders are cashing out of energy and chasing the next momentum wave.

I'm new to all this, but i guess im becoming a contrarian value invester?

Good to hear.. I thought I was missing something..
This insider buying at Chesapeake has been going on for quite a while now, It's hard not to be encouraged with news like that, I was going to trim some of my positin, but I think I'll wait till it's back into the 70's before i do that.
Cheers guys, thanks.

Commodities are getting hit all over, but it is not unusual for this time of year.

Check this out: http://ww​w.peridotca​pitalist.co​m/2008/07/d​id-wall-st​reet-forget​-about-ches​apeake.html

Thanks Fresh, excellent analysis indeed.