Oil Sands and Related Stocks Message Board

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Gold/Mining/Energy : Oil Sands and Related Stocks

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To: Cogito Ergo Sum who wrote (15567)	3/24/2007 8:23:37 PM
From: haitokin	Read Replies (1) of 25575

Yes a doji-like spinning top. Indecision. Mirrored by the same type of inconclusive opinion on this board. The old candlestick advice: ALWAYS pay attention to the doji. I'm not a TA guy by design. But here are a few observations on the daily chart: the last candle body is white not black, and did not create any gap. It pushed ahead of the 200MA and held it. RSI between 50-60, lots of room for continuation of uptrend. Fast/slow stochastics between 70 and 50 so ditto there. Chaikin Money Flow approaching zero, MacD crossing zero, CCI about to cross 100. No bad news there. Nothing indicates that things are overbought. The acc/dis just glanced off a triple bottom. Volume picking up since last doji on March 13 which indicated reversal at end of downtrend. Flip the chart over to the weekly, and all things look quite similar. Not overbought. So on a technical level, I don't see a lot of information pointing towards apprehension. Everyone knew CLL was coming out with a report at the end of Friday, so there'd be some reason for indecision. I believe that Pod 2 being a goer should be received positively. I do think that the overall market may not help out CLL here, and await an overall market selloff after the TSX double tops out. The GLJ reserve report isn't out yet. Bit of a bummer there. They'll have it out in the second quarter, which is as earlier as a week away. Does anyone really want to be short when that comes out? Want to be in the stock but haven't started a position yet? Sold the uptrend when the technicals indicated it wasn't overbought? Like the oilsands but not CLL? They announce a second permit application will go ahead and the stock sells off? It could, watchout for a whipsaw before the real breakout. Once this gets past this wee last bit a indecision, TTM. H

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