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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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Aug 19, 2010 12:57PM

The bourses are seeking lower levels again.Wouldn't be surprised if the sp500 goes to it's previous low set in July but first there is a small support around 1060.

Despite there is also positive news the main focus is taken on the negative part.However though yesterday was a down day CLL managed to stay flat.Probably a lot of the bad news is priced into the stock.I think oil will hit 71 ,set begin of July.

With September coming and October I expect the bourses will be weak until third week of October is passed after the options are expiried .

A small good news from CLL could hold the stock around these levels but WHEN we will hear something real posistive that's the big question.It's very strange sometimes that stocks could turn so negative after having some positive news releases earlier.

Compared to two years ago both CLL and PDP are supported by hopefull news releases.So when will we finally see a turn towards a real supporting news period?

However from the bourses sentiment in coming months there is not a very supporting period to expect.Maybe when 2011 comes along economics could improve.


Aug 20, 2010 03:59PM
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