Re: Hang On----
in response to
by
posted on
Jun 11, 2010 02:50AM
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 Den,
and all who drop by on this forum and add their opinion about the market behaviour which has commanding control of CLL SP.
I agree about the importance of the follow up of this rally. So far in last few weeks every rally was used by pros to unload their position to individual investors. Booster who has the access to the UPTREND charts may confirm that this was the case.
As you say Den, it is very important to see the follow on this Thursday run up. Thursday night future trading is not conclusive and it is impossible to see which direction the market will open on Friday morning. The chart below suggest that the $US dollar stoped at the resistane level ($87). Move the slider to the left. If it bunce back higher the stock market will resume the bear trend.
The Euro ran into headwinds above $1.21 as well.
About BP... My enter at $40 was stopped in the same day as the BP SP was pushed down fast to $30 level. I enter it one more time today. See if I will have some more luck this time around. NE looks very good as well.
As for CLL ... it shows some resiliency in this downturn. 20% gain on the good news (reserves or Algar) is possible.
Good luck with your trades ,Jurek.