SPC   

SPC

hahah so Monday will be another round of panic buying with the US snow storm.

For those who think the cold winter will never come this yrs.... this is one more leasson to learn that never try to be smart by predicting nature wild card. 

 

yep noted, thanks sporeguy. :) my pref of the 3 is actually PDC.

but ok, we better keep spc thread to spc. hehe.

 

SPC DBeCW070423 strike price at $4.35 seems the most attractive to look out for if SPC stages a strong rebound. Keeping a close eye.......

 

be careful of See HS, looks like it has completed 5th wave. AD & C charts are down. Lum Chang (laggard)seems just completed 3rd wave, so may have a last upshot. PDC(super laggard ?) is still new, only 1st wave.

 

thanks for the advice Livermore, iPunter, elf

oil prices recovered about $1 to $52 USD per barrel and saw a snow storm in Texas. ooh yes, Channel 5 is screening "The Day After Tomorrow" tonite.

anyway, i will need to wait sometime for the CFD account to be opened. will decide what to do again when its opened.

 

hey giantlow, am in total agreement with Livermore and iPunter. Even if you want to short, it might not be wise to try it on SPC.

You're concentrating too much of your funds into one counter; which is risky if you cannot afford to lose that sum of money.

yea, in a bull market, it makes no sense to short. Check the risk/reward ratio carefully. you're probably better off just buying the construction sector pennies for next week, rather than shorting SPC. My picks: PDC corp, see hup seng, lum chang.

 

I totally agree with Livermore...



Shorting in the midst of a bull market is going against nature, which is not the way to go.



Furthermore, if you had wanted so short, you should have shorted long ago when it was nearer to 6.00 (highest price was 6.05) when you see a reversal pattern. Anyway, it is quite natural for people to want to short when no one likes the stock anymore.

 

Hi Giantlow,

I hope you are not making a rash decision. It is ok to seek opinions from others here. However ultimately the decision is yours. Do think about it carefully......

Personally shorting is such a risky move.....

 

thanks singaporegal,

i am going to open a CFD account and short SPC.

 

I hope for those vested in SPC will see a strong rebound real soon........

 

Hi giantlow,

Sorry... I can't see any sign of trend reversal from the TA charts.

 

I remember recently someone wrote to the forum to complain that he paid more after the petrol prices was adjusted down.  Reason being that they also reduce the rebate given.  So after calculating, he ended up paying more than before the reduction in petrol price !  See, how smart they are ? 

 

i read also in the forum asking Y petrol price not cut yet! I wonder who will start the ball rolling?

 

Livermore,

you probably referring to your pump price eh?



Then it means bigger margins for the oil retailers...but bear in mind, the petrol they are selling now were pruchased at the historical  (a few weeks ago) crude price.

But then again, the oil companies are always quick to increase when oil price rises and slow to reduce when it goes down.



This happens when there is an oligopoly market and the oil companies can form a price cartel.

Our CASE (Consumer Assoc) is toothless as the oil companies are too important an investor in Spore to offend - so they were probably told (by the powers to be) to lay off this issue.

As a result, we, the man in the street motorists, remain a pay and pay lot. 

 

If you notice, crude oil price has come down but oil product price has remained the same.

 

Last night, (USA Fri), US mkt (Dow, Nasdaq, S&P) up,  Dow Energy sector led the charge (+2.6%), oil price rebound.

Lets see how SPC performs on Mon. 

 

Hi jackJames, I like your analysis. Keep it up!!

 

not vested. However when I look at the chart, say you purchase Jan 27, 2005 at 4.08 price, you keep for two years until now.. which is around 4.06 price too.. If you buy 5 lots, that's about 20K. With the dividend paid on these two years, 0.52 (total for 2 years) x 5000 = SGD 2600.. which is 13% . Even though price now is not good, for those vested 2 years ago cut loss also will not feel the pain lo.. the 13% is much attractive than the time deposit in the bank.. so, no rugi la... But, it is really a good time to enter this counter soon, before it starts to rebound, I am looking at 3.8 level as well. Then, you can catch the dividend + capital gain, which is "wonderful"...

 

It is presently resting on the 4.04 support line.

I think  it will easily poke through this line very soon and head for the major support point around 3.82 and then start to form the reversal pattern there. This means the shorts may still have some 'juice' to enjoy.  

 

iPunter,

so do u see signs of stagnation or continued downtrending. if u observe a continued downtrend, what is the next critical support level