After the takeover bid for Burlington Resources (BR) was initiated by Conoco-Phillips (COP), I have become increasingly more confident that Chesapeake Energy (CHK) will follow the same path.

I originally found CHK a few months ago as I browsed through my daily list of insider transactions. Even at current prices, Chesapeake insiders continue to have an insatiable appetite for their stock.

On December 15th, CEO Aubrey McClendon bought another 50,000 at prices of $33.90-$33.94. From December 14th thru the 19th, Chesapeake insiders have bought a grand total of $48,886,453 worth of stock at prices ranging from $31.46 to $33.94.

Insiders have been huge buyers of the stock. I am looking for a tidy profit in CHK shares in the weeks ahead.