Connacher Oil & Gas Ltd CLLZF

RE: Fibonacci analysis - chips

[canestsal]

I know it is not for everyone, but I play the game by the numbers. Hope and faith don't drive stock prices, but logarithms often help in detecting market trends. For the rest, IMHO, I would be very careful when buying speculative oil stock right now. I have been on this board for a while, and the only one posting, who I recognize as being on this board since the early days, is Chips. Many of the bonified money-making traders who were on this board before have cashed in and moved on. Oil trends generally tend to head south going into the fall, and right now most EA's do not recommend speculative oil stocks because they are considered to be overbought at this point. Just compare market caps to shares outstanding, or share earnings percentages. CLL is not releasing any sort of great news any time soon, if you are looking for that sort of play, invest in UTS because they are due to announce a JMV ... or read the Dines Letter on the coming uranium boom and UEX. Is there a lot bitumen in the Great Divide? Absolutely. Will this stock post past $10. I am willing to bet on it. However, IMO, I think this stock is set for a price slide to the mid 1.80's (based on trendline, fibonacci, and median share-price analysis). This is a long-term play, shorts should be out by now. I hope I'm wrong, however -ces