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never say never......ask politely.
why cannot average down ?
Yes,
but always remember to cut loss...
And do not, (never never ever) average down...
Come, come, $1.8 can already.
Don't think just because it was a $8 dollar stock, it can go back there again. Margins going to be squeezed with more new refineries coming online
shplayer ( Date: 06-Mar-2009 22:03) Posted:
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I am not so bullish about SPC prospects over the near term future......next couple of years.
1. Demand for oil and oil products have shrunk. Despite OPEC cutting production by appprox 4m bblpd, there is still excess CO to the extent that the oil majors like Exxon have resorted to hoarding (storing) CO to take thesupply off the market in order to prop up CO price. This is evidenced by the increased demand for VLCC tankers for storage and the current tight capacity for land based CO storage tanks.
2. Regional refinery capacities have been creeping up with refineries in India, Vietnam and China coming (or have come) onstream. So, refining margins are not going to improve anytime soon.
3. Upstream revenue and profit contributions will not be too significant at current CO price level......... 4Q09 upstream eps came in at merely 2.7c......3Q09 was 8.5c.....Also, the bulk of the US capacity (the oilfield in China) was acquired when CO prices were high....so my guess is the ROI for that investment, at current CO price, is not too impressive.
Henry$$$ ( Date: 05-Mar-2009 22:21) Posted:
Despite the fact of stake reduction, please remember cruel oil is non-renewable energy and it definately can't replaced by new energy totally. From FA and TA, it is a good counters and cash rich counters. SPC business covers from upstream to down stream, thus current price is rather attractive! Unless you believe oil price will back to few dollar!!
Of course, I am more than happy if somoby can short it below $2 and even $1. |
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I saw SPC chart again and seems like $1.70 is a possibility on a technical point of view. Let's see
yes, buy if when it is $1.70 or below.
Don't buy this one yet
Perhaps he is desperate to raise hard cash??
shplayer ( Date: 06-Mar-2009 22:26) Posted:
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In my opinion, CCB sale of his shares (200lots of 250 lots he was holding) is not due to the need for cash. The sale would have raised <$500K. For a man of CCB stature, I am sure he has the odd half million lying around here and there at his disposal.
Bear in mind, in May 2007, he purchased 100lots of these shares from the open market at 4.72. So, he is seeing a loss for this sell off.
trader88.sg ( Date: 05-Mar-2009 19:35) Posted:
| Not necessary. He might need the money for his personal reason. If most directors, especially those who have large holdings, are liquidating, then it is worrying.
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thks.
Possible....perhaps probable...bear in mind, in Oct 2003, the Indonesian group, The Kapital Group, bought 28% of SPC from Keppel Corp for $1.50......maybe it will visit that level again?
lookcc ( Date: 06-Mar-2009 22:10) Posted:
| tat's y $1.70 is a possibility, tis year???
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In my opinion, CCB sale of his shares (200lots of 250 lots he was holding) is not due to the need for cash. The sale would have raised <$500K. For a man of CCB stature, I am sure he has the odd half million lying around here and there at his disposal.
Bear in mind, in May 2007, he purchased 100lots of these shares from the open market at 4.72. So, he is seeing a loss for this sell off.
trader88.sg ( Date: 05-Mar-2009 19:35) Posted:
Not necessary. He might need the money for his personal reason. If most directors, especially those who have large holdings, are liquidating, then it is worrying.
Blastoff ( Date: 05-Mar-2009 19:06) Posted:
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tat's y $1.70 is a possibility, tis year???
I am not so bullish about SPC prospects over the near term future......next couple of years.
1. Demand for oil and oil products have shrunk. Despite OPEC cutting production by appprox 4m bblpd, there is still excess CO to the extent that the oil majors like Exxon have resorted to hoarding (storing) CO to take thesupply off the market in order to prop up CO price. This is evidenced by the increased demand for VLCC tankers for storage and the current tight capacity for land based CO storage tanks.
2. Regional refinery capacities have been creeping up with refineries in India, Vietnam and China coming (or have come) onstream. So, refining margins are not going to improve anytime soon.
3. Upstream revenue and profit contributions will not be too significant at current CO price level......... 4Q09 upstream eps came in at merely 2.7c......3Q09 was 8.5c.....Also, the bulk of the US capacity (the oilfield in China) was acquired when CO prices were high....so my guess is the ROI for that investment, at current CO price, is not too impressive.
Henry$$$ ( Date: 05-Mar-2009 22:21) Posted:
Despite the fact of stake reduction, please remember cruel oil is non-renewable energy and it definately can't replaced by new energy totally. From FA and TA, it is a good counters and cash rich counters. SPC business covers from upstream to down stream, thus current price is rather attractive! Unless you believe oil price will back to few dollar!!
Of course, I am more than happy if somoby can short it below $2 and even $1. |
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great.
Wah! anothere 28.5% down fr current px to rach 1.70. Thats a good bargain px. Will join in d ride if it comes.
lookcc ( Date: 06-Mar-2009 18:43) Posted:
waiting very patiently 2 buy at $1.70
Henry$$$ ( Date: 05-Mar-2009 22:21) Posted:
Despite the fact of stake reduction, please remember cruel oil is non-renewable energy and it definately can't replaced by new energy totally. From FA and TA, it is a good counters and cash rich counters. SPC business covers from upstream to down stream, thus current price is rather attractive! Unless you believe oil price will back to few dollar!!
Of course, I am more than happy if somoby can short it below $2 and even $1. |
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waiting very patiently 2 buy at $1.70
Henry$$$ ( Date: 05-Mar-2009 22:21) Posted:
Despite the fact of stake reduction, please remember cruel oil is non-renewable energy and it definately can't replaced by new energy totally. From FA and TA, it is a good counters and cash rich counters. SPC business covers from upstream to down stream, thus current price is rather attractive! Unless you believe oil price will back to few dollar!!
Of course, I am more than happy if somoby can short it below $2 and even $1. |
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Read article, either on paper or web, D world finance giants had posted to OPEC that before they do any drastic cut in CO o/p, they hv to consider current global economy crisis. This is because currently all are trying very hard to heel their wounds, if OPEC pour salt somemore, d world economy will collapse. And OPEC members will be affected as well.
SPC is a good counter to play with. For short term, though brokers will be much happy loh.
was very bullish abt SPC in Feb... on hindsight, should maybe wait another 2 months before dipping in. the bear is almost 18 months old, the average age where bears turn into bulls...
On another note, its any one guess whether March 15 when OPEC meet will generate any catalyst up or downwards.
Will wait 2 more months before buying anything for longterm...
Henry$$$ ( Date: 05-Mar-2009 22:21) Posted:
Despite the fact of stake reduction, please remember cruel oil is non-renewable energy and it definately can't replaced by new energy totally. From FA and TA, it is a good counters and cash rich counters. SPC business covers from upstream to down stream, thus current price is rather attractive! Unless you believe oil price will back to few dollar!!
Of course, I am more than happy if somoby can short it below $2 and even $1. |
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Now it is $2.40 but this stock looks good for short.
