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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: Ask Lots = 999 @ $1.63

Ask Lots = 999 @ $1.63

posted on Apr 05, 2010 12:59PM

It appears to me that the financial houses that bought the 190,000,000 shares last fall at 90 cents still have tens of millions of these shares left to sell and that they are steadiliy controlling the daily sales volume and price of these shares as they slowly go up. I've never seen another stock whose price is controlled like this every day and every hour. They keep the daily price within a very tight band and if the price drops more than a few cents then the ask price is suddenly 999. If the price goes up a bit too high, the ask price becomes 999. It is getting to the point that one wonders why would anyone buy Connacher as a first time buyer when you can see this constant manipulation by the financial houses as they slowly dump the tens of millions of shares that they have left, of which they may still have one hundred millions shares left to dispose of into the market. If they unload 2 or 3 million of these shares every day in terms of volume it would indeed take many months to dump all of their shares and make a profit to boot. However as a long term Cll share holder this is very annoying and frustrating as it is taking forever for the shares to reach their true value. With all of this said, I would not buy Cll as a first time share holder due to this tediously slow rise in the share price. Most of us retail shareholders however are in the situation that we must hold for a long time to get back to where we want the share price to be.

Cheers; Scott

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