Re: Algar done on time maybe on budget... - sharky
in response to
by
posted on
Apr 16, 2010 10:29AM
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
Hi sharky:
I agree with you not to trust what the analysts say as they mainly go on BNN to promote the stocks that they own in their funds and after they appear on Market Call or Market Call Tonight, when they promote a stock it generally goes up the next morning and they most likely sell some of their shares when this happens. The big financial houses also put out target prices for shares to help them to unload the millions of shares that they have acquired , at a higher price. I am not in a buying mode right now so none of this will effect me, however as a long term shareholder in CLL, as many others on this board are, it would be nice to see our shares appreciate in value over the next number of months. As for RJ and the other big financial houses, they are still dumping CLL shares at present because they most likely collectively still have around a hundred million shares ( a wild guess) that they are presently stuck with after they picked them up last fall in the .90 cent per share offering that they bought out. Anyway, neither you nor I feel sorry for them as they are making a big profit now on every share that they dump. They are biding their time and selling hundreds of thousands of shares a day "manipulating" the share price by keeping it on an upward trajectory. It appears that they are being very careful not to release too many shares at once, which would put the share price into a downward tail spin which would then take them many more months to unload the many shares that they own. The question is, I wonder how long it will take them to finally get rid of all of shares that they have left from that .90 cent offering.
Best Wishes; Scott