Grab the paddles and resuscitate CLL

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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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Grab the paddles and resuscitate CLL

posted on Jun 18, 2010 12:41PM

Dismal volume, charts look like a horizontal death line.

JV rumors from Gusella only had 500k volume yesterday (not sure this was a good thing anyways - share dilution, JV, pick your poison), and today we're stuck with 230k (CLL has averaged over 3M).

If we at least held the average daily volume, I may consider the accumulation theory, but we've disappeared under the radar during this 10 day rally.

Looking at Level II bids and asks, there's close to 1M shares on the ask side between 1.42 and 1.46....with over 450k currently sitting at 1.42, and approx 600K on the bid side between 1.41 and 1.37....and neither side wants to budge.....strange.

Last time we waffled with these volumes was late March, from which we jumped 30 cents from that range.....hope the same occurs now......