You said:
...If I,m correct on this pattern then the recent close of $1.45 is the first peak ( notice how everyone lowered their targets to just over$1.50 as the highs were reached)...
Financial analysts did not lower CLL targets to $1.5 after $1.45 was reached as you suggested.
RBC and Credit Suisse dropped their targets to $1.5 day after CLL December Operational update show slow rumping up progress. At the time CLL SP was $1.22
Scotia Capital dropped the target price from $1.65 to $1.5 day after CLL January report show lower average monthly production then in December update. At the time CLL SP was at $1.4
Slide from December presentation showing the Algar and POD1 rumping up progress was nowhere to see in the January presentation.
I would suggest that the CLL SP stuck in the trading range (5 to 10%) from the $1.5 target price is related to the week fundamentals and not a market forces.
PS: congratulation, you are cracking some funny jokes recently:
About yourself: I'm an extremely rational and logical person ....not a cheerleader
About Brian: ..,,surprised you haven't blamed management for global warming..
Poor Brian , possibly choking when drinking the tea from his favourite Tea Party Pot and worrying about global worming.
Connacher Bitumen production
Connacher updates |
December 2010 Avr Monthly bbl/d
|
January 2011 Avr Monthly bbl/d
|
% increase/decrease |
POD1 |
7760 |
7800 |
0 |
Algar |
6854 |
6500 |
- 5 |