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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: who were the sellers
2
Apr 07, 2010 03:02PM
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Apr 07, 2010 03:14PM

Apr 07, 2010 03:46PM

Well i sold 5 weeks ago and bought back at averazge 1.42 and sold again at 1.63 .

Didn't buy back on the latest dip and missed this lastest spike .But i think iy will run out of steam .

So i'm waiting now until profit taking takes place again.

The gap from 2 days ago is filled today .probably the latest high of 1.80 will last for a time .Rsi has touched same level as a few days ago so to make a higher move is doubtfull.I don't jump in right now and wait until indicators are coming down.

Some are getting enthousiastic and maybe the future looks some better but if we look at production levels it's still the same at around 8000 .They have problems to get it higher and Algar is almost finished but not producing.So latest jump has more to do with overall attention from the market to the oil sands instead of real fundamental improvement from CLL though I admit future is normally looking better .

Oil has also something to do with the spike but with CLL we need to be carefull.

If Krissy is right about the insider sellers then why they sell.I prefer insider buying more then selling.


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