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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: PAIN!!!!

Dec 16, 2008 08:53AM

Dec 16, 2008 09:22AM

Dec 16, 2008 09:54AM

Dec 16, 2008 10:21AM

Re: PAIN!!!!

in response to by
posted on Dec 16, 2008 10:32AM


Brian:

Relax

The current trend of CLL SP is going against the market trend for energy stocks, which tells me that something else is afoot. LIKE I said, I'm pretty sure your seeing sell-offs for tax purposes .. Shorts are making a killing, and Revenue Canada is taking a beating..

Let me explain.. Cll hovered around $4 until October...If I had 50k shares at $4 and sold today at .75 I would incurr a loss of $ 162,500. These losses could be applied to any profits made this year or carried forward to future years..So I sell my 50k to a short seller, who says thank you very much, I can then buy back in the next few days say around .90,, yes I lose 7500 on paper but got one hell of a tax write off in return.. Then revenue Canada goes BOO HOO



UTS bottomed at .67 I expect CLL to do the same.

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