SPC   

SPC

ok lah...pis*ed off liao. I sold all holding of SPC liao! I am in total CASH now...hehehe!!!

 

This counter is like dripping oil in every 1 minutes/30 seconds...no action one! I will be out soon if no action by afternoon.

 

NickyNg... :)

You are so right.... such is the underlying reality of the market...

As a derivation, one can once again be reminded of the saying which investors should always bear in mind...

ie. "Not losing is already winning" ...

 

it had a very strong sell signal as it fell below 200MA and also closed below its support level on Friday...

 

SPC traded 2.9 K lots, quite substantial volume I can see as compared to last week day's trading. More than double of the volumn was traded today. Wondering someone tried to press down the price to make profit later. However, it gained ground quickly, but it could be attributed to the record high of the crude oil in the afternoon.

If I not mistaken, so far SPC single day gain for the last two mths was high at 30 cents, not a good counter for shorting, my view.

 

ehh..helo...every mother son/daughter also think like u leh...then u guys SELL to who ?!?!?!? :P

nah...i will SHORT and sell to u folks...hee...

:D juz kidding :D

 

Today, SPC fell to a low of 6.35 ...


Thus, the probable has happened according to the signs given out by the technical indication...

Hope the technicians did act on their analysis, and thus benefitted therefrom...  

 

Dear all, any one can comment if is 6.4 is a good entry before rates cut?thereafter after rates cut will sell......will it be a good move?

 

At this stage of the game, it is indeed amazing that there's still very staunch supporters of 'fundamentals'.

I am sure many are already disillusioned at this moment by the heavy losses they have incurred by
holding or buying  the great blue chips while they fall during the  past couple of  months or.

But technically speaking, (ie. from the point of view of market action itself) this stock is presently at a
stage where the shorter-term uptrend has just ended, while longer-term downtrend is still intact.

Thus we now are seeing both short-term and long-term trends operating in tandem.
I am sure many technical investors see this and will act according to the most probable outcome
and adopt an absolutely objective approach.




Any views from other serious technicians? ...

 

Agree.. this is one of my fav stocks...  very good dividends!!

Go check out sgx.com for their dividends... SHIOK AR.. hee...

 

No talk needed..just buy whenever it dips.. n collect dividend!! highest div yielding stock!!

PetroChina is reported to be looking at building a world-scale
refinery in Singapore, with the project estimated to run into billion of
dollars. The size of the refinery is in the range of 400,000 to
500,000 barrels per day.
§ According to estimates by SPC's management, a moderately complex
200,000 bpd refinery could cost as much as US$5b to build, given current
high current engineering, procurement and construction costs.
§ Implications: Based on current market value of US$20-25k/barrel,
SPC's stake in SRC alone is worth S$7.80-9.70/share, more than its current
share price by 10-37%.
§ Besides the refinery asset, the profits from upstream business is
expected to increase multi-fold this year with the tripling of E&P assets
to 10,000 bpd. And to top it off, it also owns a 38-retail stations
network that contributes a stable source of income.
§ We reiterate our Buy on SPC.

=====================================================================================================
Investment Highlights

Oil price has spiked past the psychological US$100/barrel in the past week
due to a combination of a weak USD, winter fuel demand in the Western
hemisphere and buoyant demand in the Asian region. The situation is
exacerbated by indications that Opec is unlikely to announce any increase
in production quota at its next meeting. Given the above dynamics, we
expect oil prices to sustain at current high levels (>US$80) in the
foreseeable future.


?Refining cycle still strong

As one of Asia's purest refining play, SPC offers a hedge against rising
oil prices. Besides a 50% stake in Singapore Refinery Company, which
operates a 285,000 bpd refinery on Jurong Island, it also owns E&P assets
in China and Indonesia with output of 10,000 bpd. Historically, high crude
prices has translated to healthy refining margins due to underlying demand
outstripping supply growth. We expect the current refining up-cycle to have
more legs to run with soaring construction costs and shortage of skilled
personnel pushing back new capacity additions.


? Higher contributions from upstream operations

SPC reported a record set of FY07 results with net profit soaring past
S$500m amid tight refining capacity and high oil prices. Contributions from
upstream operations grew more than 3-fold to S$52m. E&P operations should
continue to fuel earnings growth in FY08 with the contribution from newly
acquired E&P assets in Bohai, China (+4,300 bpd) and organic growth (Oyong
oilfield) raising output more than 3-fold to 10,000 bpd.


?More upside ahead
Despite having outperformed the market YTD, SPC trades at undemanding
valuations of 7x FY08 P/E and sports a trailing yield of 8.5%. Based on
peer average P/E of 8x, the stock is worth S$8.20.

 

Technically speaking, the shorter-term trend just came 'in-phase' with the longer-term trend,

ie.  they are both just aligned and should be operating in tandem...

('Bargain' hunters should take this into consideration).

 

Closed at 6.64... the long-tailed black candle ... 

Such a fall in the face of yesterday's record oil price rise...

 

Today fell to low of 6.66 ie. right through the support floor...

Will high oil prices may be bad for the refining business? Any views?  

 

Most likely profit taking...

 

When SPC slided, I check bussiness texts and news from teletext, nothing bad mention about SPC. Early the morning it surged 17 cents. Strange? It is my favourite counter since 2005.

 

SPC seems to be the only counter with a nett down from yesterday in spite of today's strong market showing. Some chunky dumping is shown.


Looks like the intermediate short-term trend is over,

And the longer term downtrend is going to resume...

 

As forecasters cut their oil demand growth forecasts, crude prices hold steady after briefly spiking to $105.97 a barrel.

 

i thinking of changing to riding a bicycle to work...

 

Petrol prices in Singapore up again. SPC shares up again!