Re: Rate Cuts mean nothing for Connacher Now
in response to
by
posted on
Jan 23, 2008 10:22PM
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
kirkdsmeeton,
" It's still the same company it was when the stock was $4.00. The only thing that has changed is the outlook of the market as a whole"
I agree 100% with the general context of your post with an exeption to your above statement..CLL is not the same company as it's growing and increasing production daily..IN FACT it's a much stronger company now than it was just 24hrs ago...On top of that as the economy contiues to tank and financing dries up,, we'll still be building while everyone else grinds to a halt,
PDP, as others are insisting on this board, has nothing to do with current CLL share price.. CLL never put a dime ( to the best of my knowledge CLL aquired shares as compensation for management services) into PDP while aquiring it share position, it's only paper losses.. PDP may have a minimul pscychological effect but that's all..Anyone whose followed CLL knows that if PDP effected shareprice then CLL would have gone thru the roof when PDP hit $25.
NO, share prise is where it is now ( in my oppinion) simply because we enterred the panic sell-off with a short position of over 9 million shares. It was a shorts wet dream,, Full production right around the corner, time running out to cover they were starting to sweat.Then market panics and they rode this puppy all the way down.got back on the horse with the profits and rode her up..Anyone notice on monday it opened at $3.15 I think, went downt to low $2.50's and back up to $3.15 in less than 45 minutes.
Last 2 days minimul price fluctuaction and high volume to me indicates shorts are covering..Once they cover the price will increase back up to the $4 ( as the historical pattern will show)quickly so they can make a killing on the upswing..
ONLY people who lost money this year are those that sold,,Everyone else has made a killing with CLL.