Hi Ludwig

As per my last post I've got to admit I'm very surprised it broke the $1.45 resistance level and shocked it went to $1.63..The question is why?CLL hasn't released any information, there's the usual Stockhouse buyout rumor mill going on ( some poster on stockhouse said it looks like UTS just before buyout news,,I'd argue these buyout rumors are false as there's absolutely no news reports anywhere regarding foreign companies sniffing around the sands for takeover targets) and according to Jurek apparently bitumen prices rose sharply and oil prices dropped today possibly on the news that Obama is being pressured to open up U.S oil reserves.. Again why? What concerns me is that after hitting $1.63 it dropped significantly to close at $1.51 .A seven cent gain yes, but if this was a genuine breakout shouldn't the close have been closer to $1.63?

Now I'm really ticked I didn't re-enter @ $1.28 but this still goes against CLL regular pattern..The close being so much lower than the high makes you wonder if this is a fake to draw in new retail investors..So far the new market highs have been mostly achieved by major institutions with stimulus money with the retail investor sitting on the sidelines. Many retailers will see todays high of $1.63 and close of $1.51 as a buying opportunity thinking that $1.63 will be tested again providing a possible .12 profit..Now this could very well be true but it could also be a fake to draw in new investors..Markets are still very high and oil price will drop like a stone when Libya settles down and there's no new problems..

Depending on the open and how oil goes overnight,I'm thinking it may be worth it to take a small position tomorrow with a very tight stop limit ( 3 cents below purchase SP) just in case . If it's a true breakout then great, if it's a fake well what's a few few bucks. Worse case could profit on a quick flip like Jurek did today.