Post Reply
2421-2440 of 3003
If the activity in Gulf of Mexico slows down then it will pull down the demand for rigs and so will be the Oil & Gas buisness. BP episode will have great impact on this counter and the bottom is still not there till there is concrete solution to Deep Water Horizon case.
Frankly, I believe oil n gas sector stocks have been unfairly penalised by BP fiasco. One of the more depressed index. May have some good ones for the longer term. Take a good hard look.
i think i read some where tt BP says they can only stop the oil well leak by end of this year, December 2010...gosh*
nickyng ( Date: 02-Jun-2010 12:36) Posted:
|
My Entry level for this baby is 3.60-3.63.
SOBAYOR
the need lots of lots of big and fat fingers to stop the leaks.......hahaha!
nickyng ( Date: 02-Jun-2010 12:36) Posted:
|
BUY only when BP manage to stop that oil well leak in Gulf of Mexico lah! :P hee....
Richman ( Date: 02-Jun-2010 11:42) Posted:
|
OMG, I am getting confused. Not sure to buy or wait.
So many professional advice in this forum.
This counter is going down further.
Not time to Buy yet.
cyjjerry85 ( Date: 02-Jun-2010 05:02) Posted:
|
Excellent Analytical Skill...
DnApeh ( Date: 02-Jun-2010 10:09) Posted:
|
Hi.
Try using line charts.
Connect the close of 19 Mar & 5 May to get a top pattern.
27 May was a test of this line.
Not vested.
cyjjerry85 ( Date: 02-Jun-2010 05:02) Posted:
|
anyone got technical analysis views on this counter? seems to me recently that it broke support, then broke resistance, then broke support, then broke resistance ...quite difficult to know the ups and downs ...any opinions on it?
Maybe just rise normally, but not 'shoot up'....
Because it is only a small well, when compared with the innumeral wells all over the world...
After losing so much oil to the seas, why the Oil Price did not shoot up ?
sorry, typo error, 16c not 18c
More likely due to Tech pullback bcos of huge increase of 18c last Thur. May pullback by 10-12c.
SMM affected by rig news.
US to Halt 33 Exploration Rigs in Deepwater Review
Brazilian state oil company Petrobras said the suspension could slow the development of its Gulf of Mexico Cascade-Chinook fields that were originally scheduled to begin production in the second half of this year. "Petrobras is evaluating the impact of the six-month extension of the moratorium and could modify its schedule," the company said in a statement.
Those areas were expected to reach 80,000 barrels a day over several years. Energy consultants Wood Mackenzie previously estimated a six-month extension of the ban would delay 80,000 barrels a day in U.S. oil production that was expected in 2011. While that is only about 5 percent of the Gulf's total output, any delay to future development could elevate long-dated oil prices and would increase demand for imported crude, something President Barack Obama has sworn to curb.
These actions are all guided by the need to take a cautious approach to offshore oil and gas development, as we strengthen safety and oversight of offshore oil and gas operations," U.S. Interior Secretary Ken Salazar said on Thursday. Salazar confirmed that the halt would not apply to rigs operating in shallow waters.
That could increase costs and delay development plans for companies like Royal Dutch Shell [RDSA-LN 1822.4399 7.50 (+0.41%)], which is among the biggest Gulf explorers, while major contract drillers who could be left with idled rigs include Transocean [RIG 56.77 -2.94 (-4.92%) ] and Noble [NE 29.07 -1.00 (-3.33%) ].
Disposal of SMM odd lot
Sale of odd lot can not be done in normal market which was also known as open market.
The transaction has to be carried by brokerage firm in the special market.
I remember few years back, SMM did offer stock split to improve on market liquidity.
Do anyone still holding the odd...
31 may 2010 Holiday ( Market closed in UK and USA on that day)
i) In USA>>> Memorial Day commemorates all Americans, who have died in military service for the United States.
ii) In UK and Ireland >>>> spring bank holiday, is a time for people in the United Kingdom to have a day off work or school.
___________________________________________________________________________________________________________
News check
Dow : -ve territory (mixed)
1) Escalating tension in korean peninsula
2) Spain debt downgrade to AA+ from AAA by Fitch rating
3) Spain listed and finanical stock weight
Oil and Gold : -ve territory and +ve (modest gain)
1) Federal Reserve has scheduled its first "small value" auctions of term deposits, which are expected to eventually grow into a tool for tightening monetary policy. The step eventually moving away from ultra low interest rate and have no implications for near-term conduct of monetary policy.
2) Oil hit by spain debt downgrade down 4% on month and helps gold on modest gain up 3% on month.
Euro vs Us : -ve territory
1) At 1.22 and was the 4 year low against US dollar; Share currency first introduced in 1999
2) No buyer on worries about massive debt and fiscal cutbacks needed in Europe, help US dollar gain on risk aversion play.
3) Spain debt downgrade. In the PIIGS zone.
more upside to come
Tgt 410 -411 and above : veri bullish
Let pray Dow upside for 2 days and same for Euro , a gap up opening for smm on monday: TGT 404
check:
Euros above 1.23
Oil price at 74 dollars
petrabra rig order (approx 26 in nos) on the way...