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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: Technical analysis note on CLL

Technical analysis note on CLL

posted on Jul 27, 2008 07:33PM

Thanks Walla for reposting this from Globe and Mail (Canadian national daily).

The author just reconfirmed what was discussed here last week (see posts Trading channel is broken). Buy signal was suggested here on July 17 at $3.8.

It is nice to see professional technical annalist coming to the same conclusions.

CLL SP Uptrend is forming and next major resistance is at $4.7 to 4.8. Stop order moved up to $3.95 level.

The OIL commentary I read tonight call for small rebound from oversold condition. Intermittent term looks bearish. Big money are leaving the OIL play. First time in long time the short position in OIL is larger then long one. This may put the dumper on CLL SP recovery.

On the personal note , today was my "big day. Thanks to my daughter encouragement I finish my first triathlon.



1.5 km swim (in the lake),10km very hilly run and 40km biking. All in 3h and 29 minutes. Finish with cramps in my leg but in my old age of 59 I consider this as a biggest sport success of my life.

3 months of training, 10 pounds less but what the feeling of achieving something I never imagine I can do.

Strongly recommended.

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