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Yup... by my reckoning, it should not go lower than 4.10.
So if you do averaging from now on it should be okay.
Just hold it and see it rise in the coming months.
A good pick. :)
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SPC appears to have bottomed out. Very attractive price around $4.38. Bought some and will buy some, dollar cost average all the way.
SPC appears to have bottomed out. Very attractive price around $4.38. Bought some and will buy some, dollar cost average all the way.
hi Jackjames, i think SPC in the medium term should be quite flat. There will be ups and downs so you have to be nimble to buy when suddenly oil goes down and sell when oil goes up. Not many people have the time. The 52 wk low for this counter can be a new 52wk low for next year. So, if you do want to buy into SPC, you must really have the patience to hold. Just my opinion.
I am neither famous here nor at Mediacorp, but I can share my joys with you guys not only stocks earning.. ha ha.. Yes, 4.36 is an attractive price. I queued at 4.34 last Friday, but didn't get it on Monday, not queueing today becuase I want observe another week first.. as so many things happen today huh..
http://jackjames.multiply.com/journal/item/155
http://jackjames.multiply.com/photos
Enjoy~
Hi, Jackjames, sounded becoming more popular not oni here, but oso in M.Corp "Say U do" ho!! ho ho!! (~_~), just wondering how handsome U look on small screen. Will be watching out since U sound it out here. Ur SPC px settle at $4.36 cts, should be good px to considering / entering position if it drop again. Just my personnal opinion, trade with care if U must. Within ur mean, no punting on this stock hopfully.
What is wrong with SPC? and what is wrong with STI today?
Anyway... I am back from Bintan, answer jessie question, my "Say I Do" last episode will be on air at Channel U, Dec 12, 2006 8.30 pm! ha ha.. my gf finally say, "YES, I DO"
Hi
lg san, yeah thanks for the good new this morning, this counter still got lot of room to go north.
let's hope spc cheong all the way...
Oil Rises for a Second Day on Forecast of Cold Weather for U.S.
By Christian Schmollinger and Gavin Evans
Nov. 28 (Bloomberg) -- Crude oil rose for a second day in New York on speculation cold weather forecast across much of the U.S. next week will increase demand.
Below-normal temperatures will cover most of the U.S. from Dec. 2 through Dec. 10, the National Weather Service forecast Nov. 26. An Energy Department report tomorrow will probably show above-average U.S. oil stockpiles rose a fifth week after recent mild temperatures in the nation's Northeast delayed heating oil demand, according to a Bloomberg News survey of 10 analysts.
``There is some cold air coming down from Canada,'' said Tom Hartmann, commodity broker at Altavest Worldwide Trading Inc. in Mission Viejo, California. ``We're going to need a drop in temperatures to get this market moving higher in the long run.''
Crude oil for January delivery rose as much as 28 cents, or 0.5 percent, to $60.60 a barrel in after-hours electronic trading on the New York Mercantile Exchange. The contract traded at $60.52 at 8:24 a.m. Singapore time.
Yesterday, the contract rose $1.08, or 1.8 percent, to $60.32, the highest close since Nov. 9. Floor trading on the exchange was shut Nov. 23 and 24 for the Thanksgiving holiday.
Last Updated: November 27, 2006 19:26 EST
Oil Rises Above $60 on Signs OPEC May Cut Output a Second Time
Nov. 27 (Bloomberg) -- Crude oil in New York rose above $60 a barrel on signs OPEC may cut production for the second time in two months as peak U.S. winter demand approaches.
The Organization of Petroleum Exporting Countries may trim output next month if November's 1.2 million barrel-a-day cut fails to ``stabilize'' prices, London-based Al-Hayat reported yesterday, citing Saudi Arabia's Oil Minister Ali al-Naimi. Gold, copper and corn gained as a slide in the U.S. dollar made commodities cheaper for consumers outside the U.S.
``OPEC has to cut production to sustain the prices,'' said Tetsu Emori, chief commodities strategist at Mitsui Bussan Futures Ltd. in Tokyo. ``The crude oil price is tracking the metals and even the grain markets.''
Crude oil for January delivery climbed as much as 96 cents, or 1.6 percent, to $60.20 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It traded at $60.18 a barrel at 2:24 p.m. in Singapore.
The contract last settled at $59.24 on Nov. 22, before floor trading shut for Thanksgivings Day on Nov. 23 for two days In after-hours electronic trading since Nov. 22, prices ranged between $58.66 and $60.17.
OPEC, which produces about 40 percent of the world's oil, agreed last month to cut output, citing slowing demand growth and rising stockpiles. The group will discuss supplies at a Dec. 14 meeting in Abuja, Nigeria.
In London, Brent crude oil for January settlement rose as much as 40 cents, or 0.7 percent, to $60.43 a barrel in electronic trading on the ICE Futures Exchange at 2:16 p.m. Singapore time.
`High' Inventories
Mild weather this winter has trimmed demand and contributed to ``very high'' global inventories, Qatar's Oil Minister Abdullah bin Hamad al-Attiyah said in New Delhi on Nov. 24.
The U.S. is the world's biggest oil consumer. Supplies there jumped to 341.1 million barrels on Nov. 17, 14 percent above the five-year average for the period, the U.S. Energy Department said last week.
Temperatures in the nation's Northeast, the biggest heating oil consuming region, will be above normal this week, forecaster Meteorlogix LLC said yesterday. Heating demand in New York City will be 36 percent below average.
``We're feeling more and more range-bound,'' said Tobin Gorey, commodity analyst at Commonwealth Bank of Australia Ltd. in Sydney. ``The key thing this time of year is demand from cold weather, and it just hasn't been cold.''
January oil futures have traded between $57.80 and $63.21 so far this month. Sustained weakness in the U.S. dollar should lift the lower end of that range going into the OPEC meeting, Gorey said.
Dollar Decline
The dollar fell for a fifth day against the euro, the longest slide in seven months. The decline took the currency to its lowest since March 2005, as traders increased bets the Federal Reserve will cut interest rates in the first quarter.
The dollar bought $1.313 euro at 3:27 p.m. in Tokyo compared with $1.3094 in New York on Nov. 24.
Oil prices were expected to rise this week on speculation cooler temperatures will increase demand for heating fuel, according to a Bloomberg News survey. Seventeen, or 49 percent, of the 35 analysts and traders surveyed said oil would gain. Ten said prices would be little changed and eight forecast a decline.
Temperatures in the U.S. Northeast will return to normal in the five days starting Dec. 2 and fall below normal in the next week, the National Weather Service said in a forecast yesterday.
Last Updated: November 27, 2006 01:30 EST
Nov. 27 (Bloomberg) -- Crude oil in New York rose above $60 a barrel on signs OPEC may cut production for the second time in two months as peak U.S. winter demand approaches.
The Organization of Petroleum Exporting Countries may trim output next month if November's 1.2 million barrel-a-day cut fails to ``stabilize'' prices, London-based Al-Hayat reported yesterday, citing Saudi Arabia's Oil Minister Ali al-Naimi. Gold, copper and corn gained as a slide in the U.S. dollar made commodities cheaper for consumers outside the U.S.
``OPEC has to cut production to sustain the prices,'' said Tetsu Emori, chief commodities strategist at Mitsui Bussan Futures Ltd. in Tokyo. ``The crude oil price is tracking the metals and even the grain markets.''
Crude oil for January delivery climbed as much as 96 cents, or 1.6 percent, to $60.20 a barrel in after-hours electronic trading on the New York Mercantile Exchange. It traded at $60.18 a barrel at 2:24 p.m. in Singapore.
The contract last settled at $59.24 on Nov. 22, before floor trading shut for Thanksgivings Day on Nov. 23 for two days In after-hours electronic trading since Nov. 22, prices ranged between $58.66 and $60.17.
OPEC, which produces about 40 percent of the world's oil, agreed last month to cut output, citing slowing demand growth and rising stockpiles. The group will discuss supplies at a Dec. 14 meeting in Abuja, Nigeria.
In London, Brent crude oil for January settlement rose as much as 40 cents, or 0.7 percent, to $60.43 a barrel in electronic trading on the ICE Futures Exchange at 2:16 p.m. Singapore time.
`High' Inventories
Mild weather this winter has trimmed demand and contributed to ``very high'' global inventories, Qatar's Oil Minister Abdullah bin Hamad al-Attiyah said in New Delhi on Nov. 24.
The U.S. is the world's biggest oil consumer. Supplies there jumped to 341.1 million barrels on Nov. 17, 14 percent above the five-year average for the period, the U.S. Energy Department said last week.
Temperatures in the nation's Northeast, the biggest heating oil consuming region, will be above normal this week, forecaster Meteorlogix LLC said yesterday. Heating demand in New York City will be 36 percent below average.
``We're feeling more and more range-bound,'' said Tobin Gorey, commodity analyst at Commonwealth Bank of Australia Ltd. in Sydney. ``The key thing this time of year is demand from cold weather, and it just hasn't been cold.''
January oil futures have traded between $57.80 and $63.21 so far this month. Sustained weakness in the U.S. dollar should lift the lower end of that range going into the OPEC meeting, Gorey said.
Dollar Decline
The dollar fell for a fifth day against the euro, the longest slide in seven months. The decline took the currency to its lowest since March 2005, as traders increased bets the Federal Reserve will cut interest rates in the first quarter.
The dollar bought $1.313 euro at 3:27 p.m. in Tokyo compared with $1.3094 in New York on Nov. 24.
Oil prices were expected to rise this week on speculation cooler temperatures will increase demand for heating fuel, according to a Bloomberg News survey. Seventeen, or 49 percent, of the 35 analysts and traders surveyed said oil would gain. Ten said prices would be little changed and eight forecast a decline.
Temperatures in the U.S. Northeast will return to normal in the five days starting Dec. 2 and fall below normal in the next week, the National Weather Service said in a forecast yesterday.
Last Updated: November 27, 2006 01:30 EST
SPC going up to 4.48 level, aft all the downtrend sentiment.
I believe there are better counter which offer better ROI. dun let SPC bind the vision.
Hi jackjames,
I only post what I see on the charts... haha.. don't let me influence you too much because TA can be wrong also .... that's why I have the stop loss rule. :)
I only post what I see on the charts... haha.. don't let me influence you too much because TA can be wrong also .... that's why I have the stop loss rule. :)
Hi Jack,
yeah I was inspire by this statement too =)
let see how it goes
yeah I was inspire by this statement too =)
let see how it goes
Really? you can "influence" my stocks buy , you know, hee...
I read the Bear Stearns review on Nov 23, 2006 on this counter. They benchmark this counter with the Asia relative sector & share price performance, PE and yields. Somehow, SPC stands a very good position. One statement catch my eyes. " We believe the share price weakness is due in part to a one-off inventory write-down in 3Q 2006 and is overdone. SPC share now offer 20.4% upside to our SGD 5.25 per share year-end 2007 price target.
Hmm.. I will watch this price for a week first... thanks singaporegal...
From TA view... it looks to be on a gradual downtrend to me.
May I know how TA shows is on uptrend? As it is quite rock bottom at 4.26 during the past two years... how's the volume these days?
TA indicates SPC is on an uptrend.
ALERT - Singapore Petroleum may fall after Jeruk reserve estimate cut
11/24/2006 8:15:00 AM
SINGAPORE (XFN-ASIA) - Singapore Petroleum Co Ltd may retreat after Australian
firm Santos Ltd said recoverable oil at the Jeruk oil discovery, in the Sampang
production sharing contract (PSC) offshore Indonesia, is most likely to be less
than 50 mln barrels, sharply lower than the initial estimate of 170 mln barrels.
Santos is the operator of Sampang PSC with a 40.5 pct interest while Singapore
Petroleum has 36.0 pct.
Santos said technical work to better determine the most likely range of oil
resources is now largely complete, leading to the reduced estimate.
It said opportunities to commercialize Jeruk are being pursued but plans for
additional appraisal drilling have been placed on hold pending the review of
development scenarios.
(1 usd = 1.55 sgd)
11/24/2006 8:15:00 AM
SINGAPORE (XFN-ASIA) - Singapore Petroleum Co Ltd may retreat after Australian
firm Santos Ltd said recoverable oil at the Jeruk oil discovery, in the Sampang
production sharing contract (PSC) offshore Indonesia, is most likely to be less
than 50 mln barrels, sharply lower than the initial estimate of 170 mln barrels.
Santos is the operator of Sampang PSC with a 40.5 pct interest while Singapore
Petroleum has 36.0 pct.
Santos said technical work to better determine the most likely range of oil
resources is now largely complete, leading to the reduced estimate.
It said opportunities to commercialize Jeruk are being pursued but plans for
additional appraisal drilling have been placed on hold pending the review of
development scenarios.
(1 usd = 1.55 sgd)
Australian firm Santos Ltd said recoverable oil at the Jeruk oil discovery, in the Sampang production sharing contract (PSC) offshore Indonesia, is most likely to be less than 50 mln barrels, sharply lower than the initial estimate of 170 mln barrels.
Santos is the operator of Sampang PSC with a 40.5% interest while SPC has 36.0%.
Santos said technical work to better determine the most likely range of oil resources is now largely complete, leading to the reduced estimate. It said opportunities to commercialize Jeruk are being pursued but plans for additional appraisal drilling have been placed on hold pending the review of development scenarios.