SPC   

SPC

ok...updates..cover my short tis morning at $4.38 :P abit of $$ for CNY :) gd luck guys !!!



Giant, i sugg u but PUT warrants lah...

 

i will not make anymore postings in the SPC thread cos apparrent, all i say amounts to nothing.

= (

 

if it is warrant, better cut loss. for share, still can hold forever

 

Giant, maybe can share with you on one of my personal losses. i bought a counter and when it went spiralling dowawards, 'coz i heartpain, and didn't know how to cut loss, in the end made 5-figure losses. this woke me up big time...



i've learnt venting fustration won't recover the losses one made. learning the mistake does. cheer up, and listen to victorian, cut your loss. i know it's easier said than done. i was afterall, once bitten.

 

hey giantlow, i know it's difficult, but do pull back a little and look at it rationally yea? Emotions help nothing in the market. Cool down... Thoughts are with you. :)

decide what you want to do, and whatever it is, hold no regrets. As in life itself. Hang in there! :) don't suppose a rose would cheer you up? here...

@)---)----

i know elves are silly and flighty and hyper, and this won't help you much, but hey. :)

 

SPC dropped when oil prices down, and have stagnated when price rise. slight correction in oil prices, this counter drop like shit.


Sell, sell, sell. The counter sucks man!!!

 

congrats man. SPC slided like shit falling.


SPC is sure 1 hell of a shit stock man!

 

ok long story cut short! any1 following me to short 3x$4.44 today liao ...hee..wish me luck!!

 

I think the latest news highlighted below in red on demand for distillates (read as more business for SPC too) is worth noting

from FORBES.com , AFX news 11.00pmET

SINGAPORE (XFN-ASIA) - Oil prices climbed in Asian trading hours as freezing weather continued to grip the northeastern US, an important market for heating fuel, dealers said.

At 11.10 here (0310 GMT), the New York Mercantile Exchange's main oil futures contract, light sweet crude for delivery in March, was up 0.48 usd at 59.36 usd a barrel from 58.88 usd in late trading in the US overnight. Brent North Sea crude for March was up 0.44 usd at 58.86 usd.

Tony Nunan, the Tokyo-based manager of energy risk for Mitsubishi Corp (other-otc: MSBHY.PK - news - people ), said cold winter weather in the northeastern US was the main cause of the rise in oil prices.

'The cold weather looks like it is going to, at least, last until next week. We went from mild weather to unusually cold weather from mid-January onwards and this is increasing demand for heating oil,' he said.

US demand for heating fuel is expected to be about 20 pct above normal this week after the US National Weather Service forecast that temperatures in the northeastern US will be below the average there for this time of the year for the next 6-10 days.

The US is the world's biggest user of energy.

Nunan said the price rise was also driven by investors that felt oil prices had bottomed-out after hitting lows of under 50 usd last month.

The market expects the US Department of Energy'S (DoE's) weekly report on US oil stocks, due to be released later today, to show a fall in distillates inventories, which include heating oil, due to strong demand.

'There's a feeling there is going to be a big draw in distillates,' said Nunan. 'The average expectation is about 3 mln barrels.'

 

hi Victorian, re your comments about the SPR, here is a quote/extract from CNN Jan 24 after the announcement on subject..

SINGAPORE (Reuters) --xxxx xx

The contract rallied $2.46 to $55.04 on Tuesday, the biggest daily gain since Nov. 20, after U.S. Energy Secretary Sam Bodman unveiled a new push in the spring to add 11 million barrels to the country's Strategic Petroleum Reserves (SPR) at a rate of around 100,000 barrels per day (bpd).

"The SPR news is very supportive of the price. And if you want to consider the Chinese strategic reserves, they have also been filling their reservoirs, all of that is very very supportive," said Andrew Harrington, a resource analyst at ANZ bank.

China has been accelerating the build-up of its strategic storage tanks, importing about 12.4 million barrels of crude in December, more than 50 percent above its November intake, industry sources said this month, indicating that at least 70 percent of those tanks had been filled.

U.S. President George W. Bush also called for a doubling of the reserve's capacity to 1.5 billion barrels by 2027 in his annual State of the Union address to Congress.

The build-up is aimed at insulating the country from global price shocks by raising strategic reserves to about 97 days of imports. Some analysts view the build-up as a steadying influence on prices.

Short-term supportive

"The SPR situation is only short-term supportive. That oil is being stored and does not disappear. In the longer term, it will probably help prices to stabilize at a lower level," Harrington said.



however, I think I will let the matter rest...  all I am saying is the SPR (and those of China, India etc) do add to current demand for distillates which means addition market for current refineries like SPC...  of cos new refineries is being built, but it would take two to three years for them to operation...  meanwhile I am saying at least the EPS of SPC should be as good their latest result, if not better..

 

Yaba yaba yaba .....

[15:33 US ECON: Crude Inventories Drop 0.4Mln Brls; Distillate Down] Boston,   
February 7. The EIA reported a drop in crude oil inventories by 0.4 mln barrels for the week ending February 3. This is the first decrease seen in three weeks. OPEC had decided in December to cut production by 600,000 barrels a day starting February 1. Crude oil imports dropped to their lowest in four weeks and petroleum imports decreased to the lowest in five weeks. Following the news, oil prices edged up 57 cents to $59.45 per barrel.                                  
Distillate inventories fell for the second straight week down by 3.7 mln barrels. The drop is the biggest since October but supply is just 0.2% higher from a year ago. Gasoline inventories rose for the eight week, up by 2.6 mln barrels.

 

 

volumes done at 4.48 was terribly low. no uptrend yet.



as usual great analysis by victorian.

 

Trend now seems more positive than negative. Wait a couple more days to confirm.

 

re the US strategic petroleum reserve, yes there is political reason for it and I agree with Shplayer's point that the aim is to buffer fluctuations.  But I think also US embarked on this path because Hurricane Katrina wipe quite a lot of refineries out of action and their gasoline price when through the roof causing a great outcry...

however my point is that when they double the reserve to 1.5billion bd, they would need to buy more petroleum (which is a refinery product) above their normal demand over the next few years.. Let me also quote a oil analyst on this subject ""By making an increase in oil reserves a foreign policy strategy, it is more likely than not that it will also push other aspiring superpowers (China and India) to increase their plans for strategic reserves, creating additional long term demand,"

 

Price action remains choppy.  Trend is aimless or should I say clueless. Nothing to look forward to except the far away dividend in May.

 

todays trade..  some giants selling down, but also big guys & rich guys buying up... i think there is going a uptrend again soon.....

 

fail to break 4.48. closed at 4.46.

sigh.... still ranging.

 

now back at 4.46. the volumes done at 4.48 is not strong enough to confirm the uptrend. even if there at huge last min volumes at 4.48, gotta wait and see.


i sense that interest is brewing.

 

r u shorting tomolo?