Re: So, let's be honest with each other
in response to
by
posted on
Apr 18, 2009 09:38PM
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
I moved into CLL after getting out of DY, which was taken over by S.---I purchased a six figure amount at $1.70-$1.80.----I held this amount, and in fact had some of my family also move into six figures, until the second quarter of last year when I was shocked by the financial release for that quarter.----Thanks to Resolute, who began buying big time, I was able to unload 50% of my holdings and 100% of my families holdings.----I was sucked in by the amount of buying by Resolute, which bolstered the s/p for quite awhile, and got caught holding onto 70,000 shares while our s/p finally tanked when Resolute backed off.---Why they were buying at those levels after the 2'nd quarter release is still a mystery to me.----I'm down to 20,000 shares after buying back in on Friday at $1.27.---I had sold those shares on Wednesday for $1.21.----I still don't know why I bought back in.--Could be a brain cramp.----A high percent of my portfolio is now into FNX, which in all likelyhood will head back up to the $40 mark within a couple of years as nickle continues to recover and they move back into the production phase.---I originally purchased this stock at $.55 and moved out at the $26 mark.---When management said they were closing the mines because of the recession and the world climate, this stock tumbled.---They're sitting pretty with an abundance of cash and no debts.----As far as CLL is concerned, I'm going to begin day trading the 20,000 shares like I did years ago before becoming a long term holder.----Just another view of how I managed the stock market.----I misunderstood managements ideas on how to build this company.---I thought that they were going to build Pod 1, and use the profits to build the second pod and so on.----I didn't realize that they were intending on taking out such a financial load to go ahead with pod 2.----Had I known that was their intentions, I would have jumped out prior to 2009.----CHEERS!!!