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we can only hope... there is always the divvy... but personally I agree with nicky..
however I was terrribly wrong recently with my warrant play... i thot it would hit 4.70 but instead it crashed.. but i am still very optimistic this round and hope to get back some of my losses... i am still fighting
shaaaarrrrrttt !!!!!
I really hope nickyng is rite that SPC will fly as 27/4/07 gets nearer.
Nickyng,i am counting on u with my life savings.
I really miss this SPC counter....
Did you "short the bugger"?... :)
steady lah...closed at 4.50 again !!! hee..
this counter is really getting boring...? every body losing interest?
dont be cowed....
this picture will attract the BULL !!!!!!
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AFX News Limited Oil rises after US weekly data shows unexpected falls in crude stocks UPDATE 03.07.07, 12:03 PM ET |
LONDON (AFX) - Oil rose as weekly US inventory data showed a large fall in crude stocks which came against market expectations that stocks would rise.
Crude oil stocks fell by 4.8 mln barrels in the week to March 2, said the EIA, the US Department of Energy's statistical arm. Analysts polled by AFX News were expecting stocks to rise by 1.8 mln barrels.
At 4.42 pm, front-month Brent North Sea crude contracts for April delivery were up 1.07 usd at 62.46 usd per barrel. Brent rose 85 cents to close at 61.39 usd yesterday.
Meanwhile, front-month New York light sweet crude contracts for April delivery were up 1.06 usd at 61.71 usd a barrel, after gaining 62 cents to settle at 60.69 usd yesterday.
'The unexpected drop in crude stocks was bullish, caused by a surprise 650,000 bpd drop in imports,' said Citigroup (nyse: C - news - people ) analyst Tim Evans.
'This could be related to fog in the Houston Ship Channel or other logistics factors, as opposed to a documented drop in supply.'
The gasoline fall was larger than expected. Gasoline inventories dropped by 3.08 mln barrels against an expected 1.04 mln barrel fall, as a result of recent troubles in the oil refining sector in the US.
'The stock numbers mean we're going to see more fund buying,' said Deutsche Bank (nyse: DB - news - people ) analyst Adam Sieminski. He added strong economic growth and cold weather in the US had strengthened demand recently, while refinery problems had helped push prices up.
Oil price gains were capped, however, as distillate stocks, which include heating oil, fell by 1.3 mln barrels against market expectations that the US cold snap would mean a 2.3 mln barrel fall.
Overall, however, sentiment remained upbeat, helped also by Royal Dutch Shell (nyse: RDSA - news - people )'s announcement yesterday that it reduced production from Nigerian operations by 187,000 bpd following a major spill from a pipeline in the Niger Delta. Shell added it would take days to repair the leak.
Also in the background, traders were reluctant to take on new positions ahead of OPEC's summit next week in Vienna on March 15. It is widely expected the cartel will leave production quotas unchanged having pledged to cut output by 1.7 mln barrels previously, with some success.
However, Evans of Citigroup warned: 'There remains some risk of either a shift of the consensus (regarding OPEC production cuts) or a statement that sparks a reaction in the market.'
Meanwhile, the impact of a nearly 9 pct plunge in the Shanghai Composite Index last week seems to have eased somewhat with stock markets across the globe staging a tentative recovery. This also helped underpin oil prices as fears that recent equity weakness could soften oil demand faded.
'Traders have shrugged this off as a one time event and will continue to focus on the immediate picture,' said Altavest trader Tom Hartman. 'Five or six months down the road, perhaps we'll see some slowing in global growth, but as we saw in today's energy stocks there are supply concerns here and now to worry about,' he added.
Geopolitical tensions between the US and Iran also propped up prices. Iran's unwillingness to halt its uranium enrichment programme is stoking supply fears.
Traders are concerned that if Iran is punished with economic sanctions by the West over its nuclear energy programme, the key crude producer might retaliate by slashing oil exports.
World powers will receive a 'serious response' from Iran if they adopt a new UN resolution imposing more sanctions over its nuclear programme, top nuclear negotiator Ali Larijani warned today.
anealla.safdar@thomson.com
Wow! This counter is very bullish. All indicating stars and planets are aligned and poised for the up thrust if there is no external influence such as the current red tide. Sigh?ren suan bu ru tien suan.
Peace to all
For the benefit of those new to all this...
Assuming all the FAs on our favourite counters are superb and sound...
Our entry and exit points, which is really what matters in investment, must be necessarily based on the technicals as shown on the charts.
Hi nickyng,
How did you do with your short yesterday?
I vested SPC at 4.40 yesterday......the FA was looking very compelling at the close on Monday. Unfortunately, was tied up until mid afternoon trade.....so, 4.40 was best I could do.
sa...aartttt ch..iiooonnngAHHHHh!!!!!!!!!
Here it is:
BT
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March 6, 2007, 1.07 pm (Singapore time)  | |
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ExxonMobil to shut S'pore refinery in June-July
SINGAPORE - Oil major Exxon Mobil Corp will shut the larger of its two refineries in Singapore for a 45-day planned maintenance from mid-June, refining sources said on Monday. The 309,000 barrels per day (bpd) facility will be shut until second-half July, with its crude distillation units (CDUs) as well as other secondary units taken down in stages, the sources added. When contacted, a spokesman for the oil major declined comment. -- REUTERS |
singaporegal,
How do you read that SPC is downtrend?
My reading is A/D is up, Chaikin is flat form a downtrend, RSI up and Will% is up. Today's closing price is geeting very close to the mid point of Boll Bands. So, my interpretation is that, while uptrend is not confirmed, there is a higher probability it it happening than a downtrend.
Appreciate your guidance.
Livermore,
Principles of Supply and Demand. Exxon Mobil refinery shut down will take away available capacity from the market => reduction of supply.