SPC   

SPC

SPC's chart looks real bad since 2 days ago!   

 

good point Shplayer, but it looks to me that it is unlikely to happen now on the same scale i.e 98 to 78..  I would estimate crude should hover around 90, and at worse 85 for the rest of year...  btw, it is margins we are really the relevant issue and I dont think pump prices would come down so quickly with drop in crude prices... they tene to lag much more than crude..

btw, one should also remember that when SPC price was about 8.5 to 9.0 the crude price then was around 80?

 

Remember 3Q 06, when crude price dropped from about USD80 to USD60 in a very short time. SPC had to write down about S$70 mil that qtr cos of revaluation of inventory.

I think mkt is concerned that this may be repeated with the recent sharp crude price drop.

 

My wise friend,Chinkiasu.

Do not leave me out...it is collection time for me as well.

 

 

 

Any price below 7.30 is a steal! But must also see mkt sentiments too. Can get even lower if sentiment no good. Stay alert!

 

lol...I put all my bet at the last minute on this counter and bid for $7.30 but unfortunately I dun get it. Will see tomorrow...might be cheaper...Cheers.

 

for the record, it closed today at 7.35.... looks like repeat of the previous pattern... it is really collection time..  idesa168...

 

The 'bull-trap breakout' 4 days ago (on 26 Nov) high was @8.10 with a volume of only 2.7m.

Yesterday's 'thud' fall to 7.60 was on higher volume of 4.3m....


 

 

wah lao, closed 30¢ below last traded price of $7.90 and settle at $7.60. So kelong one... I think the lost of 30¢ goes to COSCO CORP. It closed 30¢ up from last traded price of $6.80 and settle at $7.10. Is this an coincidence? Anyway, crude oil is not doing well lately, dropped from $100, to now about $89. I believe this will somwhow affect the Refining margin. Stay vested anyway! Cheers to all! Have a nice weekend.

 

wow, lucky didnt enter today.  Last evening when I look at the chart (still learning) I thought it is quite bullish leh... This shows I am still very poor in my skills and need to horn my skills :)

 

By the way, can someone explain how come the married deal from the chart below show only 2 lots ?  I thought usually married deals are done in large volumes ?

 

 

This proves that stock market playing is dicey... 

 

Yes. Saw this.

Not only this counter. Ezra and many others too.

How to beat the market without their buying and selling power?

Time	Last	Volume	Buy/Sell
17:05:05	7.600	1,115,000	X
16:59:52	7.900	1,000	Buy Up
16:59:08	7.925	2,000	X
16:58:31	7.850	1,000	Buy Up

 

hi folks, did you all saw what happen!!!  all day trade around 8.00 and then at close of bell 1.1 million traded at 7.6!!!! 

 

Oh I just checked, it is becos of a major pipleline catching fire... which reduces a dedicated supply that would need US to buy from other marker to replace.. Nov. 29 (Bloomberg) -- Oil surged more than $4 a barrel, the most in a month, after an explosion at an Enbridge Inc. pipeline from Canada to the U.S. cut supply to the world's largest energy user.

 

hi pinnacle.. thanks for news update, but re you observation, we should note that if US cannot take in the crude there would be "surplus" crude for the rest of world for the period they cannot absorb..? , btw there is still a US reserve stockpile..

 

Oil price jumped up again as explosion and fire at a terminal in Minnesota prompted the shut down of nearly a fifth of U.S. crude imports.

This may also be one of the reason that DJ future is below water now. Main reason should still be profit taking after 2 days of uptrend.

 

Oil tumbles 4 percent

Oil prices tumbled 4 percent on Wednesday, after a U.S. government report showed crude stockpiles fell less than expected last week, easing supply concerns in the world's top consumer.

The fall extended losses that have chopped $7 off oil prices since Friday on expectations that the Organization of Petroleum Exporting Countries may increase output and signs U.S. demand growth is cracking due to wider economic problems.

U.S. oil traded down $3.80 at $90.62 a barrel by 1929 GMT after falling as low as $90.33 earlier. Brent crude lost $2.57 to $89.95 a barrel.

U.S. crude inventories fell 400,000 barrels last week, less than half of what analysts had expected, as imports offset higher demand from the nation's refineries, according to the U.S. Energy Information Administration.

Crude stockpiles in Cushing, Oklahoma, -- the delivery point for U.S. crude futures -- rose 600,000 barrels over the same period, according to the EIA.

Analysts said the report could alleviate some of the concerns about consumer supplies ahead of the winter, which had helped send oil to a record above $99 a barrel last week.

"Given that we have had so many bullish reports with (refinery) utilization lower and crude falling, this is the first sign that supplies may have a chance to increase," said Peter Beutel, president of Cameron Hanover.

"This puts additional pressure on markets that seem to have second thoughts on its ability to print $100 a barrel."

Oil prices have surged from below $70 a barrel in August to near $100 on a weaker U.S. dollar, a rush of speculative investment and worries that supplies might be stretched to meet demand during the Northern Hemisphere winter.

But concerns about the faltering economy in the giant U.S. market and expectations OPEC may increase output when it meets next week in Abu Dhabi have helped send prices lower.

"It's difficult to buy oil when you know that the market is worrying about a recession in the world economy, especially in the United States," said Ken Hasegawa of Fimat Japan Inc.

U.S. consumer confidence fell for a fourth straight month in November to a two-year low, dragged lower by concerns about financial markets and rising gasoline prices.

OPEC MEETING

Top OPEC Gulf officials have expressed concern about oil's record run, but insist supplies are sufficient and do not support prices near $100.

"We observe with great concern the recent escalation of oil prices," Saudi Oil Minister Ali al-Naimi told a regional energy conference in Singapore.

"But we believe that the world market is well supplied and petroleum inventories are comfortable," he said, blaming a weak dollar, geopolitical tensions and speculators for the rise.

OPEC President Mohammed al-Hamli said high prices were a worry, but added the world economy had weathered the rising cost of energy so far.

Still, a Reuters poll of 21 banks, funds, consultants and traders showed a majority expecting OPEC to increase output by at least 500,000 barrels per day when its ministers meet on December 5 in Abu Dhabi.

 

NEAH...This round I lost. Infact, I wasn't punting much...busy at work, no time to monitor. However, I do have time to monitor, November I will loos more I guess. Let see December. Cheers.

 

hi idesa, long time no see...  there is advantage too for trading when stock is volatile...  you were quite good at it last round?

 

Greeting to you my friend, CKS. I will loading up more quite soon, awaiting for the price to be not so volatile. It's $10.00 counters....see far!