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cheers bros, this correction is helping us!!
This is not going to reach your taget of $4.90 so soon.
At least not today.
Think this will hover around $5.40 ~ $5.45 today.
Uncle DOW -167 pts overnight. Oil down -$0.43. What will SPC opens today? Kilroy, are your amuniion ready for the attack? I am waiting!
Today everything will be under attacked...
This will not be spared.
to be attacked today.......
the price dare not attack 5.50SGD. Hmmm...
I will advise to wait for sentiment to be clearer (mean good) first.
Unless you have holding power, then different story.
It may be good to buy SPC @ 5.25...
but mind you, that can also be a risk...
As expected, SPC is not spared! The mkt decline is too strong lah!
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| SINGAPORE (Thomson Financial) - Oil prices rose in Singapore morning trade
Wednesday on concerns over a tropical storm building in the Atlantic and the potential danger posed to US energy facilities, dealers said. At 10:20 am (0220 GMT), New York's main contract, light sweet crude for September delivery was up 37 cents at 72.75 US dollars a barrel from 72.38 late Tuesday. Brent North Sea crude for September delivery rose 35 cents to 70.86 dollars. "The oil market went from worrying about the swirling financial storm to worrying about the development of a potential tropical storm," said Phil Flynn, an analyst with financial firm Alaron. "Any storm that slows refining and production will not be welcome." OPEC's estimates of stronger global oil demand in 2007 was also keeping prices firm, dealers said. The Organisation of the Petroleum Exporting Countries said in a monthly report Tuesday that world oil demand growth in 2007 was forecast at 1.3 million barrels per day, or 1.5 percent. That was "slightly higher" than the estimate given last month and reflected "additional oil needs for Japanese power plants," the OPEC report said. However, OPEC noted that "over the last four weeks, prices for (New York) crude oil have exhibited extreme volatility," as the world economy has experienced stock market and other economic fluctuations. "There is no doubt that the above uncertainties have clouded the outlook for oil demand," OPEC said. It added that US economic problems such as the "recession in the housing sector, in particular the sub-prime mortgage market" have precipitated "fears of a global economic slowdown." The US government's Climate Prediction Center predicted last week that a total of 13 to 16 tropical storms were expected to form in the Atlantic basin this year, with seven to nine becoming hurricanes. The US Atlantic hurricane season began on June 1, but experts point out that cyclonic activity typically peaks between August and October. |
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IF oil holds up, SPC holds.
IF oil.. . . . .. . . ..
Not half bad! SPC is quite resilient to the Bloodbath mkt! Probably bcos the oil price was up last night due to OPEC's revision of world demand for oil. I am still at the sideline.
this stock has to fall so that i can accumulate.
market sentiment coming back?
volatile trading today.
Crude Oil Prices:
Sep 07 light sweet crude futures contract on the New York Mercantile Exchange gained US$0.15 to around US$71.62 per barrel.
Market sentiment coming back and the subprime thingy more or less has a solution so FOR today it may end higher if not flat.
Open at $5.75.
High at $5.85.
Now between $5.70 ~ $5.75.
A few thousand dollar question. Will it close at a high or low?
today 5.65/5.70 support seems intact but today's lower high compared to the previous sessions isnt a good sign. Testing 5.50SGD again looks imminent.
I will suggest to look at the William rule for this period...
So far so good for me, make a couples of kopi $$$
Support at $4.90?