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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: More bad(civil unrest)/good(oil prices) news

Hi Ludwig

Be very careful right now..CLL would be sitting around low $1.20s right now if Libya hadn't happened and we all know it. SP started to drop right after Mubarack stepped down and only went up again because of Libya..Oil is pushing highs because Khadafi is making his last stand. Saudiis have already said they'd make up for lost Libyan production .Once Libya is settled oil should drop down to the 90-95 range.

However, It's pretty obvious to all current push on oil prices is not based on lost Libyan production but on fears of what may come next. When Khadafi falls it may embolden others and all bets are off if it spreads to Saudia Arabia or any other oil rich countries.

Charts are not to be trusted right now as they don't account for volatility..

I'm staying liquid ,,I missed out on the recent push and won't get sucked in at these high prices...Markets are at highs /oil set a new 2 year high and everything is overbought..LOOKS like 2008 all over again.. There's more room to go down right now than up..I got smoked in 2008, because I was fully invested when the market crashed and didn't get my cash out in time..This time when the market crashes I'm going to be in cash .


Mar 03, 2011 05:02PM
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