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ha ha, if the BBs dump today with yesterday lelong prices and the huge vol, guess how much they will make??? If they buy DJ tonite will go high, then they will wait for 2morow to make higher profits loh.
don't be discouraged, if u miss the boat yesterday.
DBS n OCBC will announce qtr result 2morrow, OCBC half price but got exposure to Mac n Mae credit crunch, your choice loh. Cheers.
I think SCM down today due to shortists as well as cheap oil.
But will oil remain cheap forever? Not sure, unless we have alternatives, if not i think it will bounce back in future again. China & India are 2 big consumers and more to come in future.
But will oil remain cheap forever? Not sure, unless we have alternatives, if not i think it will bounce back in future again. China & India are 2 big consumers and more to come in future.
Yesterday traded merely 3392k but end today, its 13808k.
At 1150, the vol alrdy broken yesterday vol. Players keep on playing to press down the price. I picked up few to play with them, for fun loh.
5cts div, not much to stirr up the stock price leh, hope to get few cups of kopi 2morow.
Cheap oil isn't that good for rigbuilders; plus, there was BB distribution. Big time.
1234567 ( Date: 05-Aug-2008 17:35) Posted:
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could anyone advise why the huge drop despite the 2nd quarter result is good?
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_12F03D046CF6515A4825749C002F37D6/$file/SCM2Q2008PressRelease5Aug2008.pdf?openelement
Thanks! Once again benefited from your valuable advice... now I understand why the TA for Sembmarine is showing contradicting results
=^)
edit: more info:
the major distribution was done by a foreign house, i think. likely MS or ML if that's the case. they have been very active in the blues lately. Sold at 4 and 4.03. (the 100+ lots).
means they likely know something we don't, as usual.
i also think SCM may have done some buybacks to support. that's why the dip is not as bad. o/w, most of the buying is by retailers.
redash: no dif between distribution and correction. it basically means selling. haha. For a BB: you distribute if you think the px is going to go down further. Alt, if you are trading the counter: distribution to short it, then later accumulation when px is right. Makes both ways (ie, churning/trading).
but SCM is at its lower band of the past 20 trading sessions: by right, 406 is a buy IF they are still trading. But they sold instead, below the band, and in large lots. so most likely something's up.
Aug 5th is results, right?
Hi elf,
mind if you can share with us... the mentality behind distribution?
And the difference between distribution and correction...
Thanks
=D
careful with this counter. i don't know why but large lots have been selling.
previous pattern for scalping for past 20 sessions was range of 406 to ~425. it shouldn't dip below 4.
ie, pattern has changed. distribution likely going on now; not just trading.
as usual, market driven loh. DJ down 253.1 and now HSI also weaken 446, STI affected, hence all stocks under it follow suit low. moreover, as said earlier, Msia steel mills halted exports may affect the local operational cost on ship building as well.
however, the drop is marginal, no sign of serious panic or great sell down.
what happen this few day ?. Good result but price drop....
Can buy or not? The result should be good based on the recent announcement....
Right???
KepCorp and SembMam announcing qtr results on 31 Jul and 5 Aug respectively. Can take Q with KepCorp result liao.
Nothing much? 1 % move so far?
same with KepCorp and Swiber, gained few cts only.
raw material issue. M'sia steel mills under pressure to temporary halt the exports to ensure domestic steel prices and supplies are stable. the 2 IR projects could be affected as well. BT today said.
http://www.businesstimes.com.sg
What happen to this guy today....??
Two announcements today......order books really strong.
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_359B89BF6EDCCC384825748200193331/$file/SCMPressRelease10July2008JSPL.pdf?openelement
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_52D1AAC340A63190482574820019DD8E/$file/SCMPressRelease10July2008SSPL.pdf?openelement
Following KC's announcement, Sembmarine annouced today another semi-sub contract from Atwood's US$565million with option for a third semi-sub.
Too bad that good news come on bad market day. With so many contract wins already announced, any reversal in market mood will be good for SembMar/SembCor, Kc and cosco. The big concern would be high steel prices. Rig builders with pricing power should do okay going forward.
today KC got another semi-sub order from scorpion. Second-half looks very promising for more semi-subs, order momemtum looks good. Good for SembGroup and KC, cosco too.
sure good stock, buildng rigs to dig black gold.