Connacher Oil & Gas Ltd CLLZF

Call the short cover price trigger !

[bert2]

Well they did not cover at  the low of 1.51  so I am going to put my money on $1.50 but it could pop anytime because the majority of the shorts have a wide margin  and are firmly in the money at todays prices.

Long term I am always positve on CLL but with a 10 - 13 mil plus short position that has yet to start  covering they are going to take it down before we go up. The up could be spectacular when it happens because not only are they going to try to cover but they will want to load up for the ride at the same time  we could see 15 -20 mil traded in a few days 

Tempting to liquidate and buy  back cheaper but don't want to get frozen out as you have to remember three are a lot less shares out there in the retail market with the institutional accumulation over the past month .   Watch for the first 5 mil plus volume day then things could get a bit crazy