Post by
Boolish on Oct 16, 2010 4:29am
Nice Move With Institutional Support
It has being tough finding the time to post as I am on an extended sojourn in SE Asia. A couple thoughts...
CTE was suffering from a paper issue as opposed to a fundamental one since the big pop in early August. Those warrants (and the big pop) caused quite an overhang...but it was opportunity. Although it isn't apples to apples the only other real comparable to CTE is AOI. Valuations are miles apart.
The chart is really shaping up now and there is sufficient volume behind this move...the large accumulators are institutional buying and it is continuing. I know Centric just did some presentations in canada and also in europe....or europe is next week I don't have my notes handy. Hopefully they will push this to new highs shortly. The stock just feels like the heavy resistance is behind us.
I do expect a financing before year end but the higher the share price can get the less dilutive it will be. I think this judicial review by IPL is frivolous... once it is dismissed the last details of Tullow farm out should be complete and the market can expect a detailed plan of how work will commence.
The markets and in particular the jr. markets are really heating up. I did not expect the DOW to get this high again for a few years...nice suprise. CTE could easily be over $1 by the end of April 2011 if the environment stays stable to positive.
Good luck out there.