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The rise of Oil Related Counters is returning.
Crude futures top $58 as distillate supply declines
Cold snap yields first drop in distillates in 7 weeks; natural gas slips
i had another look at the intra day chart : volume distribution
| The Volume chart differentiates the volume done per trade into 'Buy Up' or 'Sell Down'. The blue bar represents the 'Buy Up' volume while the red bar is the 'Sell Down' volume. |
it would appear some big boy is selling down in the last quarter of trade...
so far, SPC has not track the recent gains in oil prices. but when it does, we can sure expect a huge jump in prices
Time to look at this gem again. World oil prices slowly creeping up again. Hope to earn some to compensate should petrol price in S'pore starts going up again.
Hi giantlow
Big resource companies in Australia,like BHP,Woodside,RioTinto,Wesfarmers have their books full to supply oil,gas,iron ore etc...To just China alone for the next 3 years.
So i think SPC,kind of resource share will be fine.
Don't worry. Sure bull!
yup. i am still positive. but SPC realli needs the big boys to enter before the prices can realli cheong ah. now all the small fishes swimming only
yes giantlow, sir, I agree too we should cross the 4.48 mark, in fact I think it has to cross the 4.50 barrier early next week and then we shall see it go sailing or rather gushing... And things look a lot brighter re your bloomburg news... I remain hopeful ...
Hi boonmengtan,
The biz Time need password and ID leh.... you have post up?
The biz Time need password and ID leh.... you have post up?
good news comes in pairs
Oil Surges Above $59 on Increased Fuel Demand, OPEC Output Cuts
http://www.bloomberg.com/apps/news?pid=20602099&sid=aBIpl5bPluuU&refer=energy
more good news on the oil front.
Crude Oil May Rise Because of Increased Fuel Demand
http://www.bloomberg.com/apps/news?pid=20602099&sid=a5NvbzD.fbRs&refer=energy
chinkiasu, my views concur with KilrOy. SPC needs to break 4.48 and stay about that amt b4 it can be considered to be resuming its uptrend.
Oil prices shot up on Friday trading. This should bode well for SPC.
Watch out for it man.
alamak, boonmengtan, I would like to read the article but unfortunately cheapskate like me am not a subscriber to BT.. could pls post the article instead of link. if too long a short summary of article.. bottomline would the output affect SPC significantly improve profitability?
[15:31 US TECHS: Commodities Outlook; Gold and Oil] Boston, February 2. Apr
[gold] is at risk of an unchanged close for the week should today"s close finish with losses of around $12. With the market having reached its highest prices since early August yesterday, today"s reversal bears close attention, as daily momentum readings now are notably lower than peaks set last November and December despite higher prices now. That divergence should lead to at least the 38% retracement of range set since early January at $645 Apr, still achievable today on additional weakness. The market is still bullishly outside the confines of the large triangle defined by Jun/Jul extremes on continuation charts, needing a firm break below $643 to point to greater downside risk.
Yesterday, [oil] reached its 50% retracement of range set since early December. The $60.60 Mar area marks both its 62% retracement point and the lowest low on charts that acted as support before prices broke sharply lower last month. A test would be an ideal sell, and with momentum rising (though still negative), reaching neutral indicator readings could easily coincide with such a rebound. That"s still a tall order for a market that has already come back nearly $8 from its lows of mid-January, and for which weekly/monthly resistance is to either side of $59.50 Mar. The first signs of change on important weekly trends is occurring today, with a shift to neutral from bearish after four weeks, but bearish monthlies still rule the roost below $61.58 Apr.
Risk of a sizable correction lower remain in place from current levels up to the low $60 region. Joel.Marver@thomson.com
[gold] is at risk of an unchanged close for the week should today"s close finish with losses of around $12. With the market having reached its highest prices since early August yesterday, today"s reversal bears close attention, as daily momentum readings now are notably lower than peaks set last November and December despite higher prices now. That divergence should lead to at least the 38% retracement of range set since early January at $645 Apr, still achievable today on additional weakness. The market is still bullishly outside the confines of the large triangle defined by Jun/Jul extremes on continuation charts, needing a firm break below $643 to point to greater downside risk.
Yesterday, [oil] reached its 50% retracement of range set since early December. The $60.60 Mar area marks both its 62% retracement point and the lowest low on charts that acted as support before prices broke sharply lower last month. A test would be an ideal sell, and with momentum rising (though still negative), reaching neutral indicator readings could easily coincide with such a rebound. That"s still a tall order for a market that has already come back nearly $8 from its lows of mid-January, and for which weekly/monthly resistance is to either side of $59.50 Mar. The first signs of change on important weekly trends is occurring today, with a shift to neutral from bearish after four weeks, but bearish monthlies still rule the roost below $61.58 Apr.
Risk of a sizable correction lower remain in place from current levels up to the low $60 region. Joel.Marver@thomson.com
Resumed its upward trend. ADX shows trend is getting stronger but please break 4.48 to convince me.
So nickyng... how much did you make from the short short?... :)
hi giantlow, now that the price is 4.46 what do you think will now happen next week... my view is that it should hit 4.6 but for this weekend I guess I have to drink more beer and try to relax...
ok enough of love n philosphy....put thg to perspective..i covered my short at $4.44 ...PHEW !!! :P
Hey Giantlow - good post. Was wondering for awhile whether I am in an ideology - philosophy forum. Although must admit such digression can be interesting and mind stimulating at times.