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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: morning action

Jan 02, 2009 07:19AM

Jan 02, 2009 09:48AM

Hi Brian

I wrote a few days ago that from chart view we would go up to the higher bollinger band range from the markets and it seems to go that way.Also oil is up.

January is mostly a good month for stocks and could be within a couple of weeks when Obama takes over we see some extra support but then I think we will go down again.So far fundamentals are not ok right now.But it's better we go up then down and this could if we go down again leave some room.Most analist think of a retesting from earlier lows before we go up after that.

Let's hope for us oil set bottom at 35 and we can stay above it.2009 will be bumpy probably in next 2 Q's to come.I'm wondering when DG will give go ahead.Probably he will focus on an average price or a trend in oil to start up again.


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