You ignore the number one rule of trading: the S/P is always right, as is the market always right. Our reserves are only worth what someone is willing to pay for them. Economics 101. My guess to make a bid is PetroChina, just a strict guess, however.

Another prediction, TOTAL partners with Suncor on the Voyageur Upgrader in tandem with the current partnership in the Fort Hills project, just a hunch ;).

At any rate, I'll take the cash at $3.50 and buy some more BP.

I'd take that...

Noticed CLL has gained on good volume despite a general dip in the TSX. Exact same thing happened with UTS before the TOTAL takeout (I saw it coming but didn't trust my instincts). Haven't had a chance to do any TA on the chart this morning but something is up, good news, takeover, something.....

I also took some profit (sold about 60%) and am staying in cash, waiting for the impending dip to buy back and average down. Thought about shorting, but, would hate to see this thing pull a Petrobank and keep blasting through resistance levels.

Could CLL be a takeover target? Petro-China is on the hunt...

I moved out of some long positions yesterday, sold at 1.12. I expect to buy back around 1.04-1.06.