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Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta

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Message: Re: TSX=Pathetic

May 28, 2008 07:57AM

May 28, 2008 08:34AM

Hi Brian

I see you get nervous about the sp behavior but we have also in Belgium some strange sp moves .I don't think it's only on the TSX;The one exception about that bourse is the after hours trading tolerance.

About the 6 top you write about I think was based on pure speculation and was in fact some kind of a bubble created by heavy buying into this stock.Later on when we looked to the earning figures it was clear this price was ti high for that time.

Even I don't like current sp only thing to say now is that the stock is now in an realy uptrend since almost two years after they started production and ramping up went smoothly .

I am not supprised to see this move downwards after current fast rise.On technical basis the stock was in overbought condition ,most news was already priced in on traders took their chances to press the sp .

I also think like previous poster that next week we could see a rebound in the sp again because traders will take position before reserves coming out later in June.But after these numbers would not be supprised gain to see profit takings and then a rebound until Algar is approved .

5,25 will be though to take I guess.


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