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4th July coming... American holiday. Will result in slow trading for SGX market too.
Trading volume is only 185,822,910 now!!
PATHETIC !!
PATHETIC !!
Hi HenryAng570,
If macro is an indicator and micro is more important, can I extrapolate this theory to mean that while FA gives you a good sense of a company, to truly make money, you have to take into account market sentiments, which TA does?
Haha... I know I'm going to get shot down by all the FA people here.... :)
If macro is an indicator and micro is more important, can I extrapolate this theory to mean that while FA gives you a good sense of a company, to truly make money, you have to take into account market sentiments, which TA does?
Haha... I know I'm going to get shot down by all the FA people here.... :)
An economist once said: īn every industry, there is only some who are in the sunset and some in the sunrise portion." For eg property, some are sold for more than $1000 psf some can't even get buyer for $500 psf.
The moral of the, the macro is an indicator, the micro is more important. Pick the good counters like SMRT, Comfort Deglro ..... they are likely to be in the sunrise portion most of the times regardless of the overall volume. Juz look at the SMRT chart ..... This is my viewpoint.
nikkei up, asx flat.. today volume super low, 500 million shares ??
today close at 2432.10 ???
directionless, volume-less. meaning less, before world cup finish..
market seems uncertain today.
likey to fall tommorow.
STI should resume correction in the early part of July.
Oil May Rise as U.S. Gasoline Demand Increases, Stockpiles Drop
June 30 (Bloomberg) -- Crude oil may approach a record on expectations that U.S. gasoline inventories will decline as demand surges during the Independence Day holiday.
Eighteen of 34 analysts and traders, or 53 percent, surveyed by Bloomberg News said prices will rise next week. Seven projected a decline and nine said futures will be little changed. Last week 40 percent of respondents predicted an increase.
Prices surged above $73 a barrel in New York yesterday after the Energy Department reported on June 28 that U.S. gasoline supplies fell 1.09 million barrels. Demand for the fuel rose 1.2 percent to 9.54 million barrels a day. Oil climbed to a record $75.35 in April on concern Iranian exports may be reduced because of the country's nuclear program.
``It's likely that we'll see $75 oil before the first week in July is through,'' said Antonio Szabo, chief executive officer of Houston-based consultant Stone Bond Technologies. ``Product fundamentals will help move crude prices higher. Volatility in the Iranian nuclear program negotiations and tension'' in the Middle East will also put upward pressure on prices.
Crude oil for August delivery rose $2.65, or 3.7 percent, to $73.52 a barrel in the first four days of trading this week on the New York Mercantile Exchange. Yesterday's closing price was the highest since May 2. Futures have increased 20 percent this year.
Gasoline Demand
Some analysts have forecast that gasoline demand would fall because of high pump prices. The retail price for regular gasoline averaged $2.873 a gallon on June 28, or 30 percent higher than a year earlier, according to AAA, the nation's largest motorist organization.
Gasoline consumption in the past four weeks has averaged 9.4 million barrels a day, 0.9 percent higher than the same period in 2005, the Energy Department said.
``Gasoline demand is very good, which is pulling everything higher,'' said Tom Bentz, an oil broker with BNP Paribas Commodity Futures Inc. in New York. ``There was talk that demand was being hurt by high prices, but the last few inventory reports have put an end to that.''
Prices also rose this week on speculation that units at two Sunoco Inc. refineries along the Delaware River were shut. Sunoco spokesman Jerry Davis said the company doesn't comment on refinery operations. A weeklong shutdown of the Calcasieu Ship Channel in Louisiana disrupted oil supplies to refineries in the Lake Charles area.
Imports Drop
U.S. crude oil imports declined 4.1 percent to an average 10.5 million barrels a day last week, the department said. Imports of petroleum products such as gasoline and diesel plunged 17 percent to 3.1 million a day in the week ended June 23, the lowest since April.
A top Iranian official yesterday dismissed calls to accelerate Iran's decision over whether to accept incentives in return for ending uranium enrichment. Group of Eight foreign ministers in Moscow said they were disappointed that Iran hasn't yet responded to the incentives and expect a response during July 5 talks between the Islamic republic and the European Union.
There will be three trading days next week because of the Fourth of July holiday. Trading in New York today will end at 1 p.m. instead of the normal 2:30 p.m. and will remain closed through July 4.
Economic Growth
Prices have also risen because of robust global economic growth, which has bolstered fuel demand. The U.S. economy expanded at an annual rate of 5.6 percent in the first quarter, propelled by a surge in consumer spending. The U.S. uses 25 percent of the world's oil.
Attempts by central banks to stymie inflation may reduce growth and energy prices in the months ahead, analysts said. The Federal Reserve raised its overnight lending rate between banks by a quarter-point to 5.25 percent yesterday.
Prices should fall to $67 a barrel because of ``weaker growth due to the interest rate rise,'' said Stephen Bartrop, a resources analyst at financial adviser Fat Prophets in Sydney.
Some analysts said prices should fall because stockpiles of crude oil, gasoline and other fuels are sufficient to meet demand. Crude oil supplies, which dropped 3.33 million barrels to 343.7 million last week, are 11 percent above the five-year average. Gasoline inventories are 0.4 percent below the five- year average, according to the department.
``Despite anticipation of a tighter gasoline market based on refinery headlines, low imports and strong seasonal demand, we think the underlying fundamentals are not that impressive,'' said Tim Evans, an energy analyst with Citigroup Global Markets Inc. in New York. ``Gasoline stocks are only 1.7 percent less than a year ago, while crude and distillate inventories are higher.''
The survey has correctly predicted the direction of prices 51 percent of the time since it was introduced in April 2004.
June 30 (Bloomberg) -- Crude oil may approach a record on expectations that U.S. gasoline inventories will decline as demand surges during the Independence Day holiday.
Eighteen of 34 analysts and traders, or 53 percent, surveyed by Bloomberg News said prices will rise next week. Seven projected a decline and nine said futures will be little changed. Last week 40 percent of respondents predicted an increase.
Prices surged above $73 a barrel in New York yesterday after the Energy Department reported on June 28 that U.S. gasoline supplies fell 1.09 million barrels. Demand for the fuel rose 1.2 percent to 9.54 million barrels a day. Oil climbed to a record $75.35 in April on concern Iranian exports may be reduced because of the country's nuclear program.
``It's likely that we'll see $75 oil before the first week in July is through,'' said Antonio Szabo, chief executive officer of Houston-based consultant Stone Bond Technologies. ``Product fundamentals will help move crude prices higher. Volatility in the Iranian nuclear program negotiations and tension'' in the Middle East will also put upward pressure on prices.
Crude oil for August delivery rose $2.65, or 3.7 percent, to $73.52 a barrel in the first four days of trading this week on the New York Mercantile Exchange. Yesterday's closing price was the highest since May 2. Futures have increased 20 percent this year.
Gasoline Demand
Some analysts have forecast that gasoline demand would fall because of high pump prices. The retail price for regular gasoline averaged $2.873 a gallon on June 28, or 30 percent higher than a year earlier, according to AAA, the nation's largest motorist organization.
Gasoline consumption in the past four weeks has averaged 9.4 million barrels a day, 0.9 percent higher than the same period in 2005, the Energy Department said.
``Gasoline demand is very good, which is pulling everything higher,'' said Tom Bentz, an oil broker with BNP Paribas Commodity Futures Inc. in New York. ``There was talk that demand was being hurt by high prices, but the last few inventory reports have put an end to that.''
Prices also rose this week on speculation that units at two Sunoco Inc. refineries along the Delaware River were shut. Sunoco spokesman Jerry Davis said the company doesn't comment on refinery operations. A weeklong shutdown of the Calcasieu Ship Channel in Louisiana disrupted oil supplies to refineries in the Lake Charles area.
Imports Drop
U.S. crude oil imports declined 4.1 percent to an average 10.5 million barrels a day last week, the department said. Imports of petroleum products such as gasoline and diesel plunged 17 percent to 3.1 million a day in the week ended June 23, the lowest since April.
A top Iranian official yesterday dismissed calls to accelerate Iran's decision over whether to accept incentives in return for ending uranium enrichment. Group of Eight foreign ministers in Moscow said they were disappointed that Iran hasn't yet responded to the incentives and expect a response during July 5 talks between the Islamic republic and the European Union.
There will be three trading days next week because of the Fourth of July holiday. Trading in New York today will end at 1 p.m. instead of the normal 2:30 p.m. and will remain closed through July 4.
Economic Growth
Prices have also risen because of robust global economic growth, which has bolstered fuel demand. The U.S. economy expanded at an annual rate of 5.6 percent in the first quarter, propelled by a surge in consumer spending. The U.S. uses 25 percent of the world's oil.
Attempts by central banks to stymie inflation may reduce growth and energy prices in the months ahead, analysts said. The Federal Reserve raised its overnight lending rate between banks by a quarter-point to 5.25 percent yesterday.
Prices should fall to $67 a barrel because of ``weaker growth due to the interest rate rise,'' said Stephen Bartrop, a resources analyst at financial adviser Fat Prophets in Sydney.
Some analysts said prices should fall because stockpiles of crude oil, gasoline and other fuels are sufficient to meet demand. Crude oil supplies, which dropped 3.33 million barrels to 343.7 million last week, are 11 percent above the five-year average. Gasoline inventories are 0.4 percent below the five- year average, according to the department.
``Despite anticipation of a tighter gasoline market based on refinery headlines, low imports and strong seasonal demand, we think the underlying fundamentals are not that impressive,'' said Tim Evans, an energy analyst with Citigroup Global Markets Inc. in New York. ``Gasoline stocks are only 1.7 percent less than a year ago, while crude and distillate inventories are higher.''
The survey has correctly predicted the direction of prices 51 percent of the time since it was introduced in April 2004.
Bloomberg's survey of oil analysts and traders, conducted
each Thursday, asks for an assessment of whether crude oil
futures are likely to rise, fall or remain neutral in the coming
week. The results were:
RISE NEUTRAL FALL
18 9 7
Livermore is right.. The reason stock indexes are recovering and rallying is not because of the percentage hike..It was already widely anticipated..what everyone was watching for was the fed stance towards inflation and their possible future steps..seems dat they are quite dovish now bout inflation and probably wont be hiking anymore as they believe the economy will cool on its own and subsequently arrest inflation..and dat is a win win situation for everyone..:)
I heard over the radio this morning that US Fed was no so hawkish about raising interest rate after raising it to 5.25% and indicated that the slowing US economy could ultimately slow inflation.
We are going into the end of the year when oil price will spike and it might be good to look at some oil related stock.
Ended around 900 million today. Not too bad lah.
Hopefully it maintains.
Hopefully it maintains.
possible to go above 1 billion today?
WOW!!! less than 2 hours of trading and volume > 520mil... super...
Aiya..No worry lah..No fog lah....fang xin lah....an lah.....
Be cautious... it might be an over-reaction this morning. The true trend will be clear in the afternoon.
aiyoyo.....STI will up more then 100 point today lah..........comeon..
STI closing today 2,444.44 or 2,488.88???