A Word on Aubrey McClendon and Chesapeake Energy

Reuters Business just tweeted, via CNBC, that the ex-CEO of CHK died in a car wreck, a day after being indicted. 

Reuters Business
@ReutersBiz
BREAKING: Ex-Chesapeake CEO McClendon dies in a car wreck day after indictment: CNBC

Putting the tragedy and fall from grace of the situation to one side (McClendon was considered a legend by many back in CHK's heyday when the stock ran up to $74 at the height of the 2008 oil bubbly/inflationary head-fake, before an epic deflationary crash), this type of news flow is certainly, and unfortunately, part of Wall Street's history when we witness unwinding of bubbles (think back to 2008 and some of the suicides we saw then by executives). 

In this case, CHK was one of the major players here, with the stock trading as low as $1.50 of in February before a sharp rally ensued. 

But the larger point for market players here is that indictments/deaths are all seen at or near the latter stages of said bubbly bursting. That is not that say equities as a whole have put in a good low. 

However, regarding the energy/materials complex, and their respective price action, sentiment, and news flow today especially, it sure does smack of an intermediate-term low. 

I will cover specific names in the energy/materials space on watch for Members in the coming videos for them. 

For now, the news on CHK may, sadly, be part and parcel of the way these things unfold as the bear case becomes a bit long in the tooth in the energy/materials complex.