Very quiet trading day + Bitumen price

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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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jurek

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Very quiet trading day + Bitumen price

posted on Nov 02, 2010 03:05PM

Very quiet trading day so far. CLL SP is in extremely oversold level. Daily RSI 9 is around 10. Anything under 20 is a buy for short term bounce to the next resistance level.

Peters&Co, Calgary broker (#77) specializing in the Energy sector deals is still unloading (or shorting?) CLL shares today. He was mainly responsible for pushing the CLL SP to new closing lows of 2010 for last 3 trading session. Anybody knows what he knows?

On the Bitumen front we had nice bounce on Monday.

Just for the record for those who flow CLL monthly cash flow:

September Average Dil-Bit price $52/bbl Bitumen about $38/bbl

October Average Dil-Bit price $49/bbl Bitumen about $37/bbl

November 1 Dil-Bit price $63/bbl Bitumen about $47/bbl (nice jump).

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