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SPC
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lookcc
Master |
13-Sep-2007 00:32
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tpg, no internal or external info at all, just my gut feelimg. |
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TuaPekGong9413
Elite |
13-Sep-2007 00:30
Yells: "deity" |
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lookcc...u got internal infor huh?seems very sure it will hit 6.90 |
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lookcc
Master |
13-Sep-2007 00:27
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thks 168, my hope is spc hit 6.90 on or b4 18th. u r rite, i m a punter not investing type. |
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TuaPekGong9413
Elite |
13-Sep-2007 00:19
Yells: "deity" |
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me more kia see....will buy unless it hit 5.8 |
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idesa168
Elite |
13-Sep-2007 00:12
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mmm...lookcc, my advise is DON't touch this counter yet. It is trading at the range of about $6.00 to $6.30. Today SPC went slightly outside this band $6.35, but went back very quickly. I may be wrong by saying this - I am expecting SPC to trade down for the next few session, and might visit the $6.00/$6.10 range. You are a little opptimistic to say SPC will trade near historic high of $6.90 before FED meeting on 18 Sept. But hard to tell the future, you might be right. Maybe tomorrow up 60 cents. Go with your feeling...my feeling is not telling me so. Wish you luck, BTW, you buying and selling SPC is not termed as INVESTING. It is PUNTING...hehehe. Cheers! |
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lookcc
Master |
12-Sep-2007 23:45
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thks tpg. wish u luck also in ur invstmnts. |
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TuaPekGong9413
Elite |
12-Sep-2007 23:39
Yells: "deity" |
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wa...u very daring....good luck...btw,contra give u 5days to sell excluding the day u buy in..so latest u gotta sell will be next thurs...good luck....tomorow market may open a bit higher...dow now at +32 |
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lookcc
Master |
12-Sep-2007 23:32
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thks again tpg, since it has hit 5 plus n 7 last month, my gut feeling is try contra at 6.40 n get out at 6.90 BUT must get out latest next tuesday 18th., will try my luck i think. |
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TuaPekGong9413
Elite |
12-Sep-2007 23:20
Yells: "deity" |
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if a correction cames,u play by contra then dead meat...it also went down to $5dollar plus last month...i would say high risk...if u buy at this price...but i may be wrong |
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lookcc
Master |
12-Sep-2007 23:09
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thks tpg9413. spc hit 7.05 last month n now oil near $80 (higher than last high og 78), mayb spc can hit $7.00 for contra? just mayb. |
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TuaPekGong9413
Elite |
12-Sep-2007 23:01
Yells: "deity" |
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lookcc....for that price,if u play contra then means high |
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lookcc
Master |
12-Sep-2007 22:51
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if enter into spc 2morrow 6.35 or 6.45, is it considered high price? advice appreciated. |
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Pinnacle
Master |
12-Sep-2007 09:46
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Oil & gas sector - OPEC shows some flexibility Decision aimed at reducing crude oil prices OPEC tries to steer a middle course. OPEC?s production policy committee yesterday agreed to raise OPEC output by 0.5 mmbopd to 27.2 mmbopd (ex Angola and Iraq), effective from 1 Nov 07. The decision is slightly academic, given that OPEC members (ex Angola and Iraq) exceeded their existing production quota by approximately 1.1 mmbopd in Aug 07. We believe the decision was taken to help lower market prices, since it ran counter to OPEC statements ahead of the meeting that production would remain unchanged. However, crude oil prices closed at US$78.23/bbl, a record high for the year. The WTI oil price is now averaging US$65/bbl ytd, exactly in line with our FY07 assumption. We are forecasting that oil prices remain at US$65/bbl in FY08, before falling to US$60/bbl in FY09 and US$55/bbl from FY10 onwards. We are leaving our oil price forecasts unchanged as: 1) OPEC does not want higher prices, and can release further capacity to reduce prices; 2) there are reasonable question marks over prospects for US economic growth; and 3) the Aug 07 subprime sell-off indicates a speculative ?geopolitical? of at least US$9/bbl in crude oil prices. However, strong prices are bullish for E&P companies under coverage (Medco, PTT and PTT E&P), as well as oil & gas service-related companies. We maintain our Overweight recommendation on both sectors. OPEC has additional spare capacity. Yesterday?s relatively small production increase shows OPEC?s concern to avoid repeating its Nov 97 mistake, when it increased production at the early stages of the FY97 Asian financial crisis. Crude oil demand subsequently grew less than expected, and oil prices dropped by over 50%. Although OPEC?s current production of 30.5 mmbopd (26.6 mmbopd ex Angola and Iraq) is below non-OPEC production of 50.0 mmbopd, the cartel?s importance comes from its ability to ramp-up supply if required. Jun 07 data from the International Energy Agency (IEA) indicates OPEC?s spare capacity is 3.0 mmbopd, meaning that it can potentially supply a further 2.5 mmbopd to the market. OPEC?s own research department is on record as wanting oil prices at the US$60-65/bbl level. This is high enough to encourage necessary investment to expand future production capacity, but not so high as reduce global economic growth, encourage substitution or increased efficiency measures. We believe any move in crude oil prices above US$80/bbl would prompt an ad hoc OPEC announcement of increased production. Direct and indirect impact of weakening US demand. The United States is the world?s largest crude oil consumer, with estimated consumption of 20.9 mmbopd (24.8%) of total 2Q07 global consumption of 84.3 mmbopd. With 45% of US demand linked to road transportation, OPEC?s concern is that a US economic downturn could quickly reduce demand. There was only an average 0.65 correlation between US GDP growth and combined road & rail tonne-km over 1990-2000. However, OPEC?s concern is the initial stages of any US economic downturn could see a stronger pullback in US demand, and have a knock-on effect of lowering demand in countries exporting to the US. Some caution warranted. Weakening US crude oil demand is certainly possible, and provides some justification to OPEC?s caution over future demand. The recent US$8.9/bbl correction in the oil price after the subprime mortgage sell-off clearly indicates some element of speculative buying. Non-commercial crude oil contract data to 4 Sep 07 is again showing an uptrend, and a lagged effect before signs of weakening US demand become evident, after a sharp sell-off in Aug 07. Although OPEC is indicating spare capacity, the crude oil supply/demand balance is undoubtedly much tighter at the current time than in previous periods. There is a real concern some geopolitical shock could cut-off significant supply, leading to a sharp spike in prices. Well-known candidates for such a shock have included Iraq, Iran, Nigeria and Venezuela. However, there have also been recent terrorist attacks against Mexican oil & gas infrastructure, with timer-triggered explosives destroying sections of five PEMEX pipelines within the past week. This is the latest in a series of attacks that started in Jul 07, and is raising concern over possible disruption to Mexico?s current exports of 1.6 mmbopd. Maintain Overweight. We are maintaining our relatively conservative oil price assumptions of US$65/bbl for FY07-08. US$60/bbl for FY09 and US$55/bbl for FY10 onwards. However, E&P companies remain attractively valued even with these low assumptions, and we maintain our Overweight recommendation for the sector. Our top picks are Medco Energi (target price Rp6,368, +65% upside) and PTT (target price THB380, +23% upside). High oil prices are also bullish for the oil & gas services sector. |
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Pinnacle
Master |
12-Sep-2007 09:03
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Crude oil futures gained another US$0.74 to close at US$78.23 a barrel in spite of OPEC?s announcement that they will increase output by 500,000 barrels a day from 1 st November, as traders believe continued global demand will put upward pressure on oil prices. |
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Pinnacle
Master |
12-Sep-2007 08:37
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SINGAPORE, Sept 12 (Reuters) - Singapore Petroleum Co. (SPC) The plant will produce ultra-low sulphur gasoline at their joint venture Singapore Refining Company (SRC) refinery, the paper said, quoting Singapore Petroleum chief executive Koh Ban Heng. The two joint venture partners are also considering a coker plant, the first by Singapore's refining industry, to upgrade heavy fuel oil into more valuable products like gasoline and diesel. This could cost $300-$400 million, the paper said. The plans follow the start of construction for a $121 million SRC plant upgrading to produce ultra-low sulphur diesel for regional markets which are increasingly going green. The company is trying to improve the competitiveness and capability of the 285,000 barrels per day SRC refinery, even as it focuses on growing its upstream exploration and production (E&P) activities to become a more integrated oil and gas company. "We need to grow E&P to balance our reliance on downstream refining which is very volatile," Koh told the newspaper. "By 2010, we are targetting E&P to contribute up to 30 percent of revenue." The Business Times said the Singapore firm has a war-chest of $650 million to $1 billion, which could be invested in more exploration and production assets. |
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Pinnacle
Master |
11-Sep-2007 11:10
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A 500,000 barrel a day quota increase will be discussed during the meeting and the timing of any increase remains undecided, one of the OPEC delegates said. The second delegate said he doubted other members would agree to such an increase. Both officials declined to be identified before the start of official talks at the group's Vienna headquarters. Brent crude oil for October settlement rose 41 cents, or 0.6 percent, to $75.48 a barrel on the London-based ICE Futures Europe exchange yesterday. The gain in New York futures yesterday widened the premium over the Brent product to $2.01 a barrel, the highest since Feb. 13. That strength is odd given ``it looks more and more likely there's something really to be concerned about in terms of global growth,'' Altavest's Hartmann said. World oil demand peaks in the fourth quarter when refiners make heating fuel for the northern hemisphere winter. OPEC cut production last year to stem rising stockpiles and support prices. |
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Pinnacle
Master |
11-Sep-2007 11:08
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Sept. 11 (Bloomberg) -- Crude oil rose to within 50 cents of a record on speculation rising demand and restricted OPEC production may tighten fourth-quarter supplies. The Organization of Petroleum Exporting Countries pumps about 40 percent of the world's oil and will set its output target for the rest of the year at a meeting in Vienna today. It will probably maintain its current ceiling because of ample supplies and the prospect of slowing U.S. demand, officials said. ``If there was possibly going to be an increase they would have hinted at it earlier,'' said Tom Hartmann, commodity broker at Altavest Worldwide Trading Inc. in Mission Viejo, California. Investors are bullish and ``it could be this is going to be one of those times they're not going to sell until they get to $80.'' Crude oil for October delivery rose as much as 83 cents, or 1.1 percent, to $78.32 a barrel in after-hours electronic trading on the New York Mercantile Exchange, its seventh day of gains. It was trading at $78.30 at 8:48 a.m. in Sydney. New York futures reached a record $78.77 on Aug. 1. The contract increased 79 cents, or 1 percent, to $77.49 a barrel yesterday, the highest close since July 31. Oil traded as high as $78.47 after settlement. ``Technically the market is still in bullish mode,'' Ric Navy, a broker at BNP Paribas SA in New York, said yesterday. ``We're unable to maintain downward momentum. There were many opportunities for the bears to take prices lower but they failed.'' |
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KiLrOy
Master |
11-Sep-2007 09:44
Yells: "I buy only what I can see." |
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I am alone in this one. My kaki's dont want to play coz today no volume. haha. I sense it should be ok .. :) |
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idesa168
Elite |
11-Sep-2007 09:39
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grass move, run liao, why wait! Personally, I am not familiar with the trading pattern of China Energy, but I believe you can survive among the big sharks...lend you my L....hehehe!!! |
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KiLrOy
Master |
11-Sep-2007 09:34
Yells: "I buy only what I can see." |
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I am sorry to hear that. Kickstart your big L. I am stuck at 1.47 with China Energy. Suddenly out of nowhere a multitude of sellers appeared. Before that the bid/sell board was low so a surge to 1.50 looks promising. Now.. @#$ !! hehe. |
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