Good points dk.

If you remember i ask the same questions long time ago. I think CLL missed big opportunity by not concentrating on the Bitumen development instead of diluting assets on the integrating model.

Mistakes were made but they have to look to the future or should I say the present.

I am not balling out yet but I am getting nervous. As you know from my previous posts I am in CLL convertible debentures (CLL.DB.A). They are paying me about 6% on my purchase price.

I believe that market in general (including the energy) will have the bear market rally (30 to 40%) before coming back to the trading range. There is no guarantee that this will happen. But if it does I may have to rethink my strategy.

From the Marketclues (free trial subscription) this is one of the possible scenario (moved cursor to the right to see full chart):

One more leg down in a wave 5 of a diagonal triangle, bottoming on Wednesday, would put an end to this overall leg down in the bear market.

This pattern is consistent with the picture being painted by our cyclic model, which is projecting a low on Wednesday, followed by a big rally lasting for most of the rest of the year.