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Manikamaniko.
Master |
28-Nov-2007 18:19
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At high prices, many load up... But many unload... 
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chinkiasu
Master |
28-Nov-2007 18:16
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hello my friend... yes alas Singapore is unfortunately too small (area wise) and too clammy (humid...but pun intended)... now with jabbas planning for 6 million population, it gona get quite crowded... good for you that have $$ to load SPC.. good luck sir... and I too doing the same... |
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geojam2
Member |
28-Nov-2007 14:00
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Hi Chinkiasu Load up more SPC based on ur posting...hehe. U always on the move, here one day and there the next. btw,strange though,how come spore is not in the top 10 most desirable countries to live in? I thought they measured by wealth,life expectancy and educational level,which spore possessed. |
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Pinnacle
Master |
28-Nov-2007 08:37
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Oil down 3 percent on OPEC output hike expectations Oil fell more than 3 percent on Tuesday on expectations OPEC will boost supply and concerns U.S. economic problems will grind down demand growth. Saudi Arabia's oil minister, Ali al-Naimi, said the kingdom had already increased production beyond targets set under an OPEC deal to boost output from November 1. But Naimi refused to say whether Saudi Arabia, the world's biggest oil exporter, would support another output increase when the cartel meets on December 5 in Abu Dhabi. Indonesia's oil minister said he would back a hike of 500,000 barrels per day (bpd). U.S. oil tumbled $3.28 to settle at $94.42 a barrel, off earlier lows of $94.21. London Brent crude fell $2.80 to $92.52 a barrel. "Expectations of a possible increase in (OPEC) output pulled crude prices sharply lower today," said Andy Lebow of MF Global. "In addition, concerns about the economy are beginning to come into play here. With consumer confidence down, the question arises on where the (energy) consumption numbers are going to be." U.S. consumer confidence fell for a fourth straight month in November to a two-year low on concerns about rising gasoline prices and financial market volatility. Prices have surged more than 40 percent since mid-August in a rally to above $99 a barrel on the slumping U.S. dollar, supply concerns ahead of the Northern Hemisphere winter and rising investor interest. But worries of an economic slowdown in the United States crimping oil demand in the top consumer have weighed on crude's record rally, as have prospects OPEC could agree to ramp up output at next week's meeting. "I will support OPEC on a new production increase," Indonesian Energy Minister Purnomo Yusgiantoro said on Tuesday. But Saudi Arabia's Naimi declined to comment on what action OPEC would take. "We will look at all information available, and decide accordingly, on whatever the information tells us about supply, demand, inventories," Naimi said in Singapore, adding Saudi Arabia had already raised production to 9 million bpd, slightly more than its target November 1. Some OPEC ministers have said supplies are sufficient to meet demand, but consumers worry dwindling stockpiles might not be sufficient to keep up with winter demand. U.S. government inventory to be released on Wednesday is expected to show U.S. distillates inventories, which include heating oil, down 1.4 million barrels, according to a Reuters survey of analysts. Crude stocks are expected to fall by 800,000 barrels while gasoline was forecast to rise by 1.0 million barrels, a preliminary Reuters survey found. |
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chinkiasu
Master |
28-Nov-2007 04:20
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hello Asterisk!!! good to hear from you..... 
I have been travelling again lately just got back and very busy with work... besides.. nothing so interesting to comment on SPC ... but today is different.. now sure signs that OPEC et als putting their act together to signal crude should not touch USD 100 which means, our SPC will have good margins and efficiency... which translates to good EPS for us..... |
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Pinnacle
Master |
27-Nov-2007 22:07
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Oil falls below $96 Oil fell below $96 a barrel on Tuesday as investors bet that the OPEC exporter group will boost supply for a second time this year at a meeting next week to cool near-record prices. Influential Saudi Oil Minister Ali al-Naimi gave nothing away on Tuesday about what action the group will take on December 5, but Indonesia's Oil Minister said he would back an increase of 500,000 barrels per day (bpd). U.S. oil dropped $2.15 to $95.55 a barrel by 8:05 a.m. EST. London Brent crude fell by $1.84 to $93.48. "OPEC has been making a lot of noise about an output increase and that's why we see weak numbers today," said Tony Nunan, risk manager for Mitsubishi Corp. Technical factors were also pressuring the market after prices surged to a record of $99.29 a barrel last week, traders said. "The market is taking a breather from this $100 talk," a London-based trader said. "I wouldn't read too much into this sell-off." The Saudi oil minister said the kingdom, the world's top exporter, had raised production to 9 million bpd, slightly more than its target under an OPEC deal to boost output from November 1. Naimi declined to comment on what the group will do next week in Abu Dhabi. "We will look at all information available, and decide accordingly, on whatever the information tells us about supply, demand, inventories," Naimi said in Singapore, where he is due to speak at an energy conference on Wednesday. OPEC member Indonesia said it would support a supply boost. "I will support OPEC on a new production increase," said Energy Minister Purnomo Yusgiantoro on Tuesday. OPEC ministers will weigh the risks of a credit slump and potential recession curbing demand in top consumer the United States, against concerns of a supply shortfall during the peak winter demand season. Consumer worries over dwindling stockpiles, an influx of financial funds and the unprecedented weakness of the U.S. dollar have driven oil to record highs near $100 in recent weeks. The U.S. dollar recovered on Tuesday from news that Citigroup Inc (C.N: Quote, Profile, Research) will sell a stake to the Abu Dhabi government. Prices could rebound on expectations of cold weather in the United States that would draw down heating fuel stocks. The onset of colder weather in the U.S. Northeast, a major consumer of heating oil, has also bolstered prices as traders bet that higher winter demand will strain inventories. U.S. distillates inventories, which include heating oil, are likely to fall by 1.4 million barrels when data for last week is reported on Wednesday. Crude stocks are expected to fall by 800,000 barrels while gasoline was forecast to rise by 1.0 million barrels, a preliminary Reuters survey found. |
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Pinnacle
Master |
27-Nov-2007 13:49
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Saudi oil min says pumping 9 mbpd, no OPEC comment SINGAPORE, Nov 27 (Reuters) - Saudi Oil Minister Ali al-Naimi said on Tuesday that the kingdom was producing 9 million barrels per day (bpd), but declined to say whether he believed OPEC should increase production when it meets next week. "When we meet on the fifth we will look at all the information available, and decide accordingly, on whatever the information tells us about supply, demand, inventories, and decide accordingly," Naimi told reporters in Singapore, where he was due to speak at an energy conference. At 9 million bpd, Saudi production would be up about 200,000 bpd versus a Reuters survey estimate for October, the month before the cartel implemented a 500,000 bpd increase. [OPEC/O] When asked when OPEC would increase supplies to the market, he said: "How do you expect me to know that? "Price is determined by the market, so let's leave it at that. It goes up, it goes down, that's what the market does," he said, when asked whether he was concerned by high prices, which have surged more than 40 percent since mid-August to near $100. Iran's oil minister said at the weekend that some ministers within the Organization of the Petroleum Exporting Countries were advocating an increase in production at the group's Dec. 5 meeting in Abu Dhabi, although most officials have said publicly that they do not believe the market is short of crude oil. |
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Pinnacle
Master |
27-Nov-2007 08:34
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Oil falls on prospect of OPEC supply increase Oil fell on Monday on expectations OPEC may increase output to help stem a record rally that has sent prices near $100 a barrel. Iran's Oil Minister Gholamhossein Nozari said at the weekend that some members of the Organization of the Petroleum Exporting Countries were advocating an increase in production when the cartel meets in Abu Dhabi on December 5. "Some countries agree with output increase and others believe there is a good balance between oil supply and demand," he told a news conference. U.S. oil settled down 48 cents at $97.70 a barrel after trading as high as $99.11 earlier, close to the record $99.29 a barrel hit last Wednesday. London Brent crude settled 44 cents lower at $95.32 a barrel after hitting a record $96.65 earlier in the session. "We believe the markets have yet to discount the outcome of the OPEC meeting, where there will be immense -- and we believe ultimately successful -- pressure on the cartel to raise quotas," said Edward Meir at futures broker MF Global. Oil has risen more than 40 percent since August, boosted by the U.S. dollar's slump to record lows, which has spurred buying of oil, gold and other commodities. The dollar edged lower against the euro and a basket of major currencies on Monday as renewed credit market worries reinforced expectations of more Federal Reserve interest rate cuts. The weak dollar, concerns over winter supplies and investment inflows into energy have pushed up the average forecasts for oil prices next year to about $75 a barrel, from an average of $70.20 so far this year, according to a Reuters monthly poll. "Our oil price scenario assumes a rise in the average price of oil to $100 at the peak of the winter season and a correction from March into spring," said Harry Tchilinguirian, senior oil analyst at BNP Paribas. COLD WEATHER The onset of colder weather in the U.S. Northeast, a major consumer of heating oil, also has bolstered prices as traders bet higher winter demand will strain below-normal inventories. Temperatures in the region on Monday were near their norms for this time of year, according to The Weather Channel Web site (www.weather.com), but the U.S. National Weather Center's six- to 10-day outlook calls for colder-than-usual conditions. The United States has urged OPEC to boost production because of shrinking oil inventory levels in developed economies in the run up to the northern hemisphere winter. OPEC agreed in September to raised output by 500,000 barrel per day (bpd), but this has so far failed to stem oil's advance. Most members have said markets are well supplied and extra oil would not cool prices. |
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Pinnacle
Master |
26-Nov-2007 22:36
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Oil below $99 on prospect of supply rise The weak U.S. dollar helped oil rise above $99 a barrel on Monday, closing in on the $100 milestone, but it retreated from session highs on expectations that an OPEC meeting next week could decide to increase supply. Iran's Oil Minister Gholamhossein Nozari said at the weekend that some OPEC members were advocating an increase in production when they meet in Abu Dhabi on December 5 to debate whether to raise output for a second time this year. U.S. light, sweet crude for January delivery was down 2 cents at $98.16 by 7:44 a.m. EST, within striking distance of the all-time high of $99.29 from last Wednesday. London Brent crude was 3 cents up at $95.79 a barrel after reaching a new record high of $96.65 earlier in the session. "We believe the markets have yet to discount the outcome of the OPEC meeting, where there will be immense -- and we believe ultimately successful pressure -- on the cartel to raise quotas," said Edward Meir at futures broker MF Global. Oil has risen more than 40 percent since August, boosted by a decline in the U.S. dollar to a series of record lows versus the euro that has spurred buying of oil, gold and other commodities. The dollar edged back towards last week's record troughs versus the euro on Monday as investors saw little reason to change their bearish view on the U.S. economy or expectations of more Federal Reserve interest rate cuts. "The questions are: where does the U.S. dollar go and are we going to see more demand out of the U.S. as it starts to get cooler," said Peter MacGuire, managing director of Commodity Warrants Australia in Sydney. The onset of colder weather in the U.S. Northeast, a major consumer of heating oil for household use, has contributed to the upswing in prices as traders bet higher winter demand will strain inventories that are lower than normal. Temperatures in the region on Monday were near their norms for this time of year, according to The Weather Channel Web site (www.weather.com), but the U.S. National Weather Center's six to 10-day outlook calls for colder-than-usual conditions. The Organization of the Petroleum Exporting Countries agreed in September to raised output by 500,000 barrel per day (bpd), but this has so far failed to stem oil's advance. Iranian minister Nozari said opinion among OPEC ministers regarding an output boost was divided. "Some countries agree with output increase and others believe there is a good balance between oil supply and demand," he told a news conference. Most members have said publicly that they don't believe more oil is needed, or that an increase would not cool prices. The United States has urged OPEC to boost production because of shrinking oil inventory levels in developed economies and to help bring down prices that have surged to record levels. |
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Pinnacle
Master |
26-Nov-2007 10:50
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One man's meat is another man's poison. CFD is a double-edge sword. So beware. Know the tool well before using it. |
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jennlsk
Member |
26-Nov-2007 09:29
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Pardon me, brokerage comm for force buy-in is 0.7% |
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Manikamaniko.
Master |
26-Nov-2007 09:07
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CFD is the best thing ever 'invented' !...
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jennlsk
Member |
26-Nov-2007 09:01
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The buy-in is done by CDP, not broker, when short selling w/o covering back on the same day. It is done on T+4 at 11am sharp, with 2 bids above the current last trading price, the previous closing price or the opening price, whichever is higher. The commission charged is 0.07%. It is an expensive way to short w/o covering back in the same day. No harm opening a CFD a/c, when you need it, it is there ready for use. |
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Manikamaniko.
Master |
26-Nov-2007 08:54
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Good chance to short on the spike? ....
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Blastoff
Elite |
26-Nov-2007 07:49
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Oil posts closing record at $98.18But analysts say gas prices are likely to hold steady or even slide a bit unless crude rises beyond $100 a barrel.NEW YORK (AP) -- Oil futures resumed their march toward $100 a barrel Friday, rising to a new record settlement in light holiday trading on concerns about tight heating oil supplies while also drawing support from a buoyant stock market.
At the pump, meanwhile, gas prices retreated further from their most recent peak, falling 0.1 cent overnight to a national average of $3.086 a gallon, according to AAA and the Oil Price Information Service. Prices rose sharply from mid-October until last week, but have fallen 2.6 cents since, countering predictions that gas prices were destined to add another 10 to 15 cents a gallon to catch up with skyrocketing crude prices. Analysts now say gas prices are likely to hold steady or even slide a little unless oil rises beyond $100 a barrel. Oil prices drew support Friday from heating oil futures, which set new records on concerns about tight supplies heading into the winter heating season. Inventories of distillates, which include heating oil, fell sharply last week, the Energy Department reported Wednesday. Light, sweet crude for January delivery rose 89 cents to settle at $98.18 a barrel on the New York Mercantile Exchange, besting the previous settlement record by 15 cents, while December heating oil futures rose 1.68 cents to settle at $2.7042 a gallon after earlier setting a new trading record of $2.7181 a gallon. Crude prices reached a trading record of $99.29 a barrel Wednesday, and are within the range of inflation-adjusted highs set in early 1980. Depending on how the adjustment is calculated, $38 a barrel then would be worth $96 to $103 or more today. Heating oil prices are rising due to falling supplies at home and overseas, analysts said. |
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Pinnacle
Master |
25-Nov-2007 19:45
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Well, if you short sell using normal trading account without covering back on the same day before market close, you will be subjected to fine penalty, and the broker will buy from open market to cover back your short. Hence, how does CFD enables one to short without covering back on same day? That's because they actually done the borrowing for you to maintain the same float size in the market. Can you imagine if 100 traders short-sell in the market without covering back, the float size will be be bloated beyond the listed size. 
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harryp
Veteran |
25-Nov-2007 19:15
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Correct link: http://www.phillipcfd.com/beforeyoutrade.asp |
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harryp
Veteran |
25-Nov-2007 19:12
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I read the offered CFD by Phillips seems to be quite different. However, under share trading acct which is not CFD is subject to risk of share borrowing. Any one care to give more opinions on this? Phillip CFD - http://www.phillipcfd.com/beforeyoutrade.asp |
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Pinnacle
Master |
25-Nov-2007 13:57
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Mani. I noticed that you are a strong advocator of CFD. But you have not gave the full view of trading using CFD. In fact, those who short sell using CFD is actually borrowing shares from other shareholders of the same counter at a borrowing fee incurred. If the shareholder decided to sell off his holding when the price is good, those who borrowed (short sell) have no choice but to buy back from the market at whatever price it is, which often may be a loss as the price had trended up. I'm not saying that CFD is no good, but traders must be aware of the risk involved and done their homework before jumping blindly into whichever tools. |
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Manikamaniko.
Master |
25-Nov-2007 12:25
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Why not remain in the market and take advantage of the falls (with CFD)?... |
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