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Bro, u r right, without d MFTs, global markets will not move n contrary d decline. D ultimatum is that they are trained n with strong backing, esp with $.
lookcc ( Date: 23-Mar-2009 21:45) Posted:
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Ha ha, your mum got her own trading stretegy, esp talking about cutting loss n profit margin.
Perhaps u can convince her further with your farsighted view on SPC, not late to buy in again loh.
AK managed to get few near closing only. D other Q expired liao. Acc some penny stocks in SGX n HS as well, not for long term ones. Must see DJ tonite perform liao.
Cheers.
gregorsamsa ( Date: 23-Mar-2009 21:01) Posted:
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if you read my earlier post, mum bought 1 lot @ 2.32. She has also 1 OCBC @ 4.66, 2 SPH @ 2.32.
Problem is, she want to sell SPC take profit, as well as, the other holdings. I told her, if she wants to, sell everything but SPC, if the financial system collapse, oil will still be in demand. She refuse to listen, so have to wait and see how this week plays out.
what would you do if you were me?
yes, but not too long, short term preferred. sell in strength is d current strategy. Cash is still king.
ha ha, no more balance liao. but will buy in when nec.
bola_no1 ( Date: 20-Mar-2009 22:21) Posted:
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AK_Francis ( Date: 20-Mar-2009 16:21) Posted:
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Show time now(1600-1700), SPC B 30 S 60 at 2.62 n 2.63 espectively. If u short ds burger earlier, now u would see to yourself, d difficulty in hoping for d best which is favoured u.
Presuming there r still many shortists waiting to buy in, d worry is that BBs withdraw d Sell px of 2.63 n they buy in d lesser lot inserted 2.64 onwards. If d shortists puay loong, they will buy in whatever px before market closed liao.
Ha! ic; tx, william.
OneSharer ( Date: 20-Mar-2009 12:48) Posted:
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Sometimes, I wish therez SJ glossary...may I ask what is MFT?
Last few days CO flat, SPC traded vol very low. Today, as CO surged last nite, creating gaming platform for d BBs.
It opens at 2.56, yes closed at 2.52. Simply for pushing up px, B v S ratio is around 30:10 n vise versa for pushing px down. However, at times, they use Right pocket out n Left pocket in technq.
BBs eyes r sharp if many shortists got involved in d game. Some may kena stuck n force to buy back in d late afternoon. A typical examp r d 3 banks when they got rally, presumes many shortists got burnt loh.
Sometime u may see ds statement in paper biz column. " Coy not willing to see the stock px decline further, d main sh holders are supporting d px". Mainly, d coy involved need to announce or doing something on d coy. Not easy to be BBs, most of them r fr institutions, n some of them r outsourced to other coy to do their job.
Hope d above guessing game correct. No right no wrong one lah. Ha ha, a minor MFT.
alex_angkwah ( Date: 20-Mar-2009 12:08) Posted:
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AK,
How to tell BB eyeing
AK_Francis ( Date: 20-Mar-2009 12:00) Posted:
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teeth53 ( Date: 17-Mar-2009 13:21) Posted:
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This Baby is worth to collect. Downside is limited Upside TP 2.9
Just don't know how fast it crawl...
From DMG:
A well primed lion
Initiate with BUY; E&P for free.
of S$2.95. Based on our free cash flow valuations, the current share price is close to
the implied value for SPC’s refining business segment alone. This implies that
SPC’s E&P business unit can theoretically be obtained for free. Buy on SPC’s
attractive valuation, healthy balance sheet, and potential upsides from new oil and
gas discoveries.
We initiate SPC with a BUY rating and target priceRefining margins to average US$3.10/bbl in FY09.
resulted in weak Asian refining margins that averaged US$1.06/bbl over a sustained
period in 1998-2001. We think this situation is unlikely to repeat. Refining margins
have rebounded sharply to an average of US$6.60/bbl YTD from US$1/bbl in 2H08,
due to refinery outages. We are not overly concerned with overcapacity, as start-ups
have been pushed back and the breakeven costs of the new refineries are high.
Hence, we are comfortable with our refining assumption of US$3.10/bbl in FY09.
The Asian economic crisisStrong balance sheet can take more E&P acquisitions.
sheet is clean with only short-term debts of S$574m (net gearing: 0.1x), for working
capital. As E&P asset valuations become inexpensive, we believe SPC is wellpositioned
to acquire assets around the region. According to the management,
SPC’s comfortable capital structure is at 1x, which implies the capability to acquire
assets valued up to S$1b. We are optimistic that SPC’s E&P healthy operating
cashflow at an average of S$350m/year is able to support the increased debt profile,
if arises.
SPC’s Dec 08 balanceAttractive valuation.
of 8.4x and E&P players of 13.5x. While SPC’s implied refining value of
US$983/bopd is merely 3% lower than the average of US$1,013/bopd, SPC’s E&P’s
implied EV/boe of US$7.80/boe is deeply undervalued, at a discount of 52% to its
peers’ US$16.30/boe. Hence, we think that the current share price has priced in
weakening products demand amid this downturn, but has completely ignored E&P’s
potential. Downside risks include 1.Worse-than-expected refining margins, 2.No new
discoveries, 3.Slower-than-expected economic recovery.