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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: CLL Trading at 52-Week high

Aug 18, 2009 04:20PM

Digger:

Don't sweat it..As posted, Institutional Holders are accumulating at a rapid pace and now hold around 35% of shares. There are large sell orders between .86 and .89 which would indicate the institutions holding a short position are covering. Huge bids in the same price range indicates that institutions are accumulating...There's also a 100k buy bid sitting at .80 and another sitting at .75 ( the support level). I see these as the targets that have to be filled before any movement.Once these boys have gotten their fill of cheap shares and the shorts have covered it'll go up.

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