GREY:CLLZF - Post by User
Post by
Goldfingerron Dec 06, 2008 7:54pm
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Post# 15631798
A little TA on CLL
A little TA on CLLTechnically the monthly chart shows the stock price to have fallen to an old resistance level. This may not mean a great deal since the last resistance/support $ 1.75 level didn't last a week.
The daily chart shows a few positive divergences, so a dead cat bounce may be in order here.
Fundamentally this stock is a basket case. Oil is going nowhere but down, Projections of $25.bbl are being spued out. 2009 looks really bad.
Geo-politically seems to be the clouds silver lining. Israel and what is left of the neo-cons in the US want to nuke Iran. There is as much reason behind this as there was to invade Iraq, but that didn't stop them then and I don't think it will stop them now. The biggest reason the USA had to keep Israel from attacking Iran was the oil price. At $140/bbl the mess that an attack would have on the world economy and the oil price would have been devastating. Well today the price of oil is $40.00/bbl. I give the odds of an attack on Iran at 50/50 now considering Pakistan is the new focus of American racism and hatred.