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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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Message: Re: Big volume??

Feb 23, 2011 11:08AM

Feb 23, 2011 01:45PM
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Feb 24, 2011 05:55AM

Feb 24, 2011 11:03AM

Broker #33 - Cannacord traded close to 5million shares. It looks like they were covering shorts with large blocks (1.1 , 1, and 0.75 million shares) at $1.44, 5 minutes after the market open. My sell order was trigger at $1.52.

A lot of selling and buying in $1.5 range. It looks like a lot of shareholders were waiting for this price target. ($1.56 was the average of 8 analysts covering CLL)

If the buyers prevail this may go to $1.7, especially if the momentum traders will jump on the bandwagon tomorrow.


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