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SPC
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solar2000
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10-Oct-2007 03:38
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Hi Livermore...I do not agree that analysts TPs has no meaning... Its usually provided at 'that' point of time... a) When some good news is annouced...report of TP obviously need to be revised... b) and when some bad news happened TP alos need to be revised... At least they are more professionally based and thorough. Of cos sometimes...there 'appear' to be some fake TP involving fund houses...no need to explain much... On the other hand, at other times... a) either there is too much speculations in a share price b) or under-speculations... resulting in abnormally high share prices and many undervalued counteres that remained so forever... |
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chinkiasu
Master |
10-Oct-2007 02:50
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SINGAPORE, Oct 9 (Reuters) - BP has sold the first cargo of light sweet Oyong crude at a discount to its Indonesian peer Belida, a trading source said on Tuesday, just two weeks after the field started production. BP <BP.L> sold the 200,000-barrel cargo of first-half November-loading Oyong crude to an Australian refiner, the source said. Price details were not immediately clear but the source said the cargo had traded at a discount to the Belida official Indonesia Crude Price (ICP). The ICP for Belida, which is lighter than Oyong crude, was calculated at a record-high of $79.79 a barrel for September, almost $3.00 above Indonesian benchmark heavy sweet Minas crude. Australian oil and gas group Santos Ltd <STO.AX>, which operates the field with a 45 percent stake, has had an agreement for BP Singapore to market its crude oil and natural gas liquids since 2004. Oil from the offshore Oyong field, about 70 km (44 miles) east of Surabaya in Indonesia, has a an American Petroleum Institute (API) gravity of 39.3 and a sulphur content of 0.178 percent, trading sources said, leaving it quite close to Vietnamese Bach Ho and Rang Dong grades. Production, which had been delayed by about a year, started in late September. Oyong is believed to be Indonesia's only new oilfield to come on stream this year. Gross oil production rates are expected to stabilise at between 8,000 and 10,000 barrels of oil per day after an initial ramp-up period. Front-end engineering design for development of the field's gas reserves is underway, with a final investment decision expected before the end of 2007, and first gas production anticipated in the first half of 2009. The other stakeholders are Singapore Petroleum Company Ltd <SPCS.SI> with 40 percent and Australia's Cue Energy Pty Ltd <CUE.AX> with 15 percent. ((Reporting by Annika Breidthardt, editing by Maryelle Demongeot; +65 6870 3902; RM: annika.breidthardt.reuters.com@reuters.net)) |
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chinkiasu
Master |
10-Oct-2007 02:33
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yes sir Live4everMore... you have made an sagacious observation.... the bears are indeed gone... and their absence is deafening.... it was not so long ago (only two months ago) that some chaps believed that SPC was heading even for 4.00... and of cos even the famous DBSV analysts (I am not sorry I dont know his name or is it a team effort) on 6 July calls for 12 months target price of 6.00, then claims on 25 Sep (only two weeks ago) it should be a hold at 6.45 .. even last week on 1st Oct again call for hold at 6.80... ..so much for DBSV analysts...and yes Geojam, luckily for me I learnt not to believe them... nor the rumourmonger doomsayers..... but Idesa168.. I hope you are right.. I am waiting to buy when it comes down.. what price to go in??? btw do you think longterm it will go further since you are still holding on to one lot??? |
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idesa168
Elite |
09-Oct-2007 22:45
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Guys, do watch out as this counter looks exhausted now. All indicators shows bearish, overbought, MA crossing, + there is a gap at 7.50-7.60. I am not too optimistic that it will surge further without coming down first. Short term not too bright. Long term...I can't see. |
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Livermore
Master |
09-Oct-2007 22:04
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All the previous target price by "analysts" had no meaning at all. I think there was a Hold call when it was $6 something |
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geojam2
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09-Oct-2007 21:58
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Lucky i still hold some SPC shares. At some point,non belivers think that SPC will not even get to $6....haha prove them wrong. |
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Livermore
Master |
09-Oct-2007 20:21
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Where have all the bears gone when it was at $5 something? |
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chinkiasu
Master |
09-Oct-2007 20:16
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alamak...Idesa168.. can you not see that I was just following Pinnacle's logic.... he was suppose to be the great teacher so I follow loh..... and of cos I cant get any stock... because SPC went up instead of down... luckily I have a lot of SPC stock still... so I am ok leh... |
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Manikamaniko.
Master |
09-Oct-2007 13:12
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Looking back, this is one great stock that deserves all the praise !!!...
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idesa168
Elite |
09-Oct-2007 10:38
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Quite unbelievable that in 2 days SPC shot up almost $1.00. So this morning I shorted @8.25 and redeem @8.00, all in half an hour. Guys, dun be deceived by the price shooting up so fast. It's the BB manupulating the share price. DUN GET TRAPPED! I am still holding on to my ONE lot. |
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idesa168
Elite |
09-Oct-2007 09:29
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Lets celebrate my friends..... |
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idesa168
Elite |
09-Oct-2007 08:39
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CKS, zhun or not, SPC will go down today. I see that if SPC is down today, I will be collecting it for kopi $$....7.50?? |
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chinkiasu
Master |
08-Oct-2007 23:37
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many thanks, Idesa168... as for me I just held on to SPC and I am up about 2.20 i.e my average SPC was about 5.6 and now SPC is about 7.8 .. and I slept well too... if I had taken your route, I would have gone for Fibrechem and perhaps in this case made slightly more... except that I think I would not have slept well ... becos then we could not see then that China is going to pump so much money.. and thanks Pinnacle... and looking at Bloomberg, it looks like both DJ and crude oil will be down, which means SPC will go down, and hence a chance for me to buy more SPC....?? |
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idesa168
Elite |
08-Oct-2007 20:05
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CKS, I got what you meant now. Well, it's hard for me to justify the gains if I held on all my holding last time till now and ducking in and out since I last unloaded. Well, The stock went on to high of 7.00 and came down subsequently therafter that I exited at 5.75. Which means I had actually lost ($1.25 per lot of share), lost of profit. However, after that I ducked in and out that I even out the lost profit, in fact I gain more than $1.25 per lot doing that (about $1.46). But the whole idea was not to stay on to in the mkt and get myself exposed to the volatility and the credit crunch woes, etc. Not really want to punt like the big timer.....Then I stopped punting when SPC was at $6.50 and beyond becos I found my new love...hahaha. Well, the gain from these China counter was enormous I would say. I was infact lucky to have taken position before the announcment of influx of new funds from China that caused all China counters to spike up. The surge for SYNEAR was about 25% and PFOOD was about 18%. To really compare the gains if held on SPC or now with China play, I think I am more or less having the same gain. But the big difference is that I slep well during August when STI is dependent of overnight DOW performance. Hey, I still held on to my ONE lots of SPC, a true believer of SPC right!...hehehe! |
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Pinnacle
Master |
08-Oct-2007 18:17
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IF DJ is up, crude price is up, and today SPC retreated from its day high before closing, then every signals are pointing for a high tomorrow. But this is too ideal case and I don't hold a crystal ball to look into future. So don't quote me here. I had closed my position for SPC much much earlier. Only looking for ST contra/short and price a bit high for me to enter for LT. Happy hunting to you tomorrow too. |
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chinkiasu
Master |
08-Oct-2007 18:02
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thank you Pinnacle... happy hunting then...for your case could pls elaborate: would you buy or sell SPC tomorrow and what price, if DOW is down/up tonight and crude oil go up/down... |
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Pinnacle
Master |
08-Oct-2007 17:53
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chinkiasu. Its good to learn from everyday's trade. But more on the market situation and the movement of market vs your counters. But then again, everyday is a brand new different situation. So you have to adapt and adopt fast. Remember that history of the stock can only be used as reference as it is not going to tell u accurately where its heading towards. Its also proven that history is not a good indicator of what's coming up. Trade with a clear mind based on the researches that you had done and counter-compare with the trend chart. Do not let greed and fear overcome you when making decision (very difficult and need lots of discipline though). |
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chinkiasu
Master |
08-Oct-2007 17:21
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hi Pinnacle, thanks for sharing... I having been adopting the same strategy, except that I did a covered short (of small lots)..., but the ramp up is so fast that and the daily margins are just not enough to make the effort worth it... I would have done better sticking by holding on..(of cos this is from hindsight... I dont know that it will touch 7.95 today although I believe the stock is trending upwards even to 8.5, there is usually a yo yo which one can exploit...)... where did I go wrong here? how can I do it better? |
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chinkiasu
Master |
08-Oct-2007 17:09
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Hi Idesa.168, I thot earlier you had sold out on SPC to concentrate on China stocks..what if you had held on and not do this... I was in a position also to do the same but I didnt... and wondered if I did that would it be a better decision... so hence my question to you becos it was an actual action not theory which I can calculate... for my case I dare not touch too many China stocks becos the PEs are allready so high c.f to SPC... |
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idesa168
Elite |
08-Oct-2007 15:07
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lol...I did not suggest to trade in and out of SPC now....CKS you got me wrong. Anyway, my profit to date is $850 excluding brokerage with my ONE lot. If I were to trade contra or short term, I will get in with more lots than just ONE (which I used to do last mth). I dun want kopi $$ this time. I WANT OIL....heheheh!!! Cheers. |
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