SPC   

SPC

short term techincal indicators bearish..reflective of the current drop in price..

 

SPC closed at $8.11 yesterday but opens today at $7.90, isn't this more than 10bits lower than closing price? In that case, on XD, can the price opens more than 10 bits lower or a drop of more than 40cts? Can anyone advise?  Thanks!

 

limhpp      ( Date: 23-Apr-2008 10:08) Posted: DJ MARKET TALK: SPC Off 4%; DBSV Downgrades To Hold; S$7.45 Floor (2008/04/23 10:05AM) 0205 GMT [Dow Jones] Singapore Petroleum (S99.SG) off 4% at S$7.79 on concerns earnings growth will weaken as global economic slowdown curbs demand for its refined petroleum products. DBS Vickers downgrades stock to Hold from Buy on limited upside to its raised target price of S$7.84 (vs S$7.27 earlier); says outlook for 2H08 will be cautious; "in addition to seasonally lower refining margins in 2H08, the IMF''s recent downgrade of global GDP could also mean lower oil demand. Hence, both crude price and refining margins will be affected." 1Q08 net profit down 12.1% on-year at S$98.5 million on absence of tax benefit, which boosted results a year earlier. Revenue +41% at S$2.71 billion. Support tipped at 15-day moving average of around S$7.45. (FKH)

 

This afternoon AGM gonna be sian leow. May be request for special cash payout to cover morning losses. He he.

 

DJ MARKET TALK: SPC Off 4%; DBSV Downgrades To Hold; S$7.45 Floor (2008/04/23 10:05AM)

0205 GMT [Dow Jones] Singapore Petroleum (S99.SG) off 4% at S$7.79 on concerns earnings growth will weaken as global economic slowdown curbs demand for its refined petroleum products. DBS Vickers downgrades stock to Hold from Buy on limited upside to its raised target price of S$7.84 (vs S$7.27 earlier); says outlook for 2H08 will be cautious; "in addition to seasonally lower refining margins in 2H08, the IMF''s recent downgrade of global GDP could also mean lower oil demand. Hence, both crude price and refining margins will be affected." 1Q08 net profit down 12.1% on-year at S$98.5 million on absence of tax benefit, which boosted results a year earlier. Revenue +41% at S$2.71 billion. Support tipped at 15-day moving average of around S$7.45. (FKH)

 

it muz had been their financial report yesterday threw everyone off-guard la...sudden plunge due to panic like Cosco...see how Cosco climb back gradually...for the past 1 week...it can climb up to 10cents a day...jux hope SPC will do the same...probably same 'scenario' but different outcome? guess supporters of this counters will also be happy to collect it at a lower price yea~ 

 

Selling is very overdone, it should move up near to opening price.

 

Dun congratulate me, I still have contra positions open @7.98 & 8.02. I am just averaging down, in anticipation to let go at a lesser loss.:(

Naproxen      ( Date: 23-Apr-2008 09:47) Posted: Congrats Idesa! I waited too long. 7.80 now. Sigh.....

 

Congrats Idesa! I waited too long. 7.80 now. Sigh.....

 

I168...Sama Sama...bought in at 7.64 for 4 lots

idesa168      ( Date: 23-Apr-2008 09:36) Posted: Although selldown, I can see BB is accumulating in small lots...What's going on here? Small retail investor got played out lah, panic drop panic sell - good for them to accumulate. I am I am the few lucky one to get 7.62 although too early to tell, but I have a hunch it will go back higher but not to previous close price.

 

Dun panic, it's not the end of the world. See show...hehehe! Support 7.62.

 

the massive sell down will lead to accumulation later in the day

may return to 7.8 abve

 

Although selldown, I can see BB is accumulating in small lots...What's going on here? Small retail investor got played out lah, panic drop panic sell - good for them to accumulate. I am I am the few lucky one to get 7.62 although too early to tell, but I have a hunch it will go back higher but not to previous close price.

 

hi viper, nope didnt buy in yesterday... haha... heng man.... now considering buying in.... if the current level at mid 7.... will it drop another 40cents on xdate???

 

Alamah, early the morning, withdrawn all last nite Q, DJ failed to go up. Wah, no eye see d SPC. Die die also Q 2 get one at 7.62, same with Idesa and one no patient, Q at 7.70. Avg 7.66 loh. See XD got chance or not, tikam leow. BTW, too much down already, didn't dump mine existing lots, though last nite's advices on post. Seems like there are players around, best the 2 cents man on board. He he.

 

I agree..I felt this will be the XD price after Friday. So ppl who want to earn big "red packet" should just buy and throw it on friday or next week...vested

idesa168      ( Date: 23-Apr-2008 09:13) Posted: I personally felt that this massive selldown is a little overdone...for those who are looking at getting into SPC maay be an oppotunity here...Good Luck! Cheers!

 

Louise, sound to me you have got in already yesterday!

louislauwm      ( Date: 23-Apr-2008 09:10) Posted: hope the px can rebound back to 8 range soon...

 

 

I personally felt that this massive selldown is a little overdone...for those who are looking at getting into SPC maay be an oppotunity here...Good Luck! Cheers!

 

v chum v chum

spc massive sell down