Hi guys,

I have similar targets on S&P500 which is bumping now to 200 moving average resistance level at about 1100. I have a sell list including CLL if the market reverse down.

It is interesting how do we get this major moves in CLL SP.

Chines, Korean and Kuwait statements about not selling their $Euro dominated reserves shifted the risk trade computer algoritmes and move the $US down, $Euro up and comodity UP (including OIL). As one would suspect CLL SP is recently very sensitive to the WTI Oil Futures.

Q1/2010 CLL numbers indicates that they need WTI Oil prices closer to $80. If you strip the non cash items they lost tremendous amount of money. POD1 operating cost jumped 30% to $20/bbl. They need successful Algar production at monthly average of 7000/bbl/d just to brake even.

Very interesting times. My BP, CPG and BTE.UN purchases are working well so far. BP gamble has the potential to be a long hold. We all need them to succeed in this major disaster and future exploration.