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SPC
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idesa168
Elite |
19-Jun-2007 23:52
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Today closed at $5.80/$5.85. Are we seeing showhand tomorrow since it's just 3 notch away from $6.00? That will make many of us very happy |
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cashiertan
Elite |
18-Jun-2007 08:25
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looking bullish with accumulation.. |
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jkbk007
Senior |
18-Jun-2007 07:50
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Latest June report on Asia refining market Asian market A combination of refinery maintenance schedule with higherthan- expected regional demand provided support for the top and the middle of the barrel component in Asia and widened further their crack spreads against benchmark Dubai crude oil. Among the top components of the barrel complex, the naphtha market performed very well, and its spread against Brent crude remained above $200/tonne during most of May. Higher Korean and Taiwanese demand boosted naphtha prices and kept the market in backwardation compared to the next month. The bullish developments in the spot market have caused most of the Middle East suppliers to raise their premium level for term contracts in the second half of the year. Along with naphtha, the gasoline market did also relatively well, and its crack spread against Dubai crude rose to above $22/b from around $18/b in April. Similarly, the Asian market for middle distillates, especially gasoil, was strong as higher demand from Indonesia and Sri Lanka has tightened the market further. Extra requirements for low-sulphur gasoil and arbitrage opportunities from India to Europe have also contributed to the bullish developments in the middle distillate market. Despite the persisting strength of gasoil, jet/fuel has lost part of its earlier ground, as Chinese jet/fuel imports fell in the face of a larger pool of domestic supplies. As far as the fuel oil market is concerned, the regional sluggish demand weighed on the market and put downward pressure on the high-sulphur fuel oil spread which dropped to minus $15.40/b lately from about minus $13.6/b in early May. Despite this bearish momentum, the fuel oil market sentiment is expected to improve in the next months, as a drop in arrivals of Western cargoes along with potentially higher Chinese demand could lift fuel oil prices. |
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onefour02
Senior |
17-Jun-2007 06:37
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high oil prices have cut into margins. |
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jkbk007
Senior |
16-Jun-2007 23:16
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Singapore gasoline RON 95 refining margin. |
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jkbk007
Senior |
16-Jun-2007 23:15
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TA is excellent. Fundamental is excellent with SPC expected to report high Q2 profit, refining margin to remain strong. Strong refining margin is sustained with continued high demand and tight supply. Oyong field is expected to start operation in early Q3 and thus adding into E&P business. Signs of improving US economy with recent CPI and PPI. Dow Jones continues to trend upward on last Friday. Sentiments is still strong. ======> All this points to SPC to rise on Monday. Estimated price range 5.75 to 5.95 on Monday. Major fundamental risk - High US bond yield, US and China trade tension, high inflation... |
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jessie
Senior |
16-Jun-2007 14:52
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thanks ideas168 and onefour02 for sharing the good news ! Hmmm, I think I will have to load more before the price shoots up.... |
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onefour02
Senior |
16-Jun-2007 14:38
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uobkayhian technical analysis SPC shows a breakout from a one year consolidation. It also shows a reversal from a double bottom formation. Based on the latter formation, the stock could potentially head up towards $6.80. Recommend a buy at $5.60-5.70. - The stock has one of the most bullish formations among blue chips. Price chart |
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idesa168
Elite |
16-Jun-2007 02:45
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This piece of news from Bloomberg worth watching. Let hope SPC cheong next week and break the $6.00 barrier. HOME RUN! Oil Rises to 9-Month High on Concern Refiners Won't Meet Demand By Mark Shenk and Robert Tuttle June 15 (Bloomberg) -- Crude oil in New York rose to the highest price since September on concern that U.S. refiners will be unable to keep up with growing gasoline demand. Valero Energy Corp. shut a unit at its Corpus Christi, Texas, refinery yesterday, according to a state-administered Web site. Refineries in the U.S. and Canada have unexpectedly shut units this spring, paring gasoline production for the peak-demand driving season. U.S. refineries reduced operating rates the past three weeks, an Energy Department report on June 13 showed. ``Prices are still moving in response to Wednesday's report,'' said Kyle Cooper, director of research at IAF Advisors in Houston. ``Valero had to shut a unit last night, which just adds to the refinery issues that have brought prices here.'' Crude oil for July delivery rose 58 cents, or 0.9 percent, to $68.23 a barrel at 1:32 p.m. on the New York Mercantile Exchange. Futures touched $68.30, the highest intraday price since Sept. 6. Prices are up 5.4 percent this week and are down 1.8 percent from a year ago. ``We broke through resistance at $68.10 and now we got an hour and 15 minutes to see if they can settle it here,'' said Addison Armstrong, director of market research at TFS Energy LLC in Stamford, Connecticut. ``It would set the stage for a run-up to $70.'' Gasoline for July delivery in New York rose 4.64 cents, or 2.1 percent, to $2.2711 a gallon. Futures touched $2.2796, the highest intraday price since May 30. U.S. gasoline consumption peaks as Americans take to the highways for summer vacations between the Memorial Day weekend in late May and Labor Day in early September. Crude oil prices often follow gasoline during the summer months. Refinery Utilization Refineries operated at 89.2 percent of capacity last week, the lowest since May 4 and the lowest utilization rate for the period in 15 years, according to the department. Gasoline inventories rose 3,000 barrels to 201.5 million in last week, the June 13 report showed. ``Supplies were flat and refinery utilization fell, reigniting worries about gasoline,'' said Rick Mueller, an analyst with Energy Security Analysis Inc. in Wakefield, Massachusetts. ``Refineries have gotten so complicated that even when a small unit goes down there is a knock-on effect hitting the entire complex.'' Brent crude oil for August settlement rose 82 cents, or 1.2 percent, to $71.78 a barrel on the London-based ICE Futures exchange. West Texas Intermediate crude oil, or WTI, traded at a record $6.54 a barrel discount against Brent on May 24, based on closing futures prices. The discount yesterday was $3.31 a barrel, the lowest since May 8. Narrowing Spread ``The spread between WTI and Brent should continue to narrow somewhat,'' Mueller said. ``WTI won't trade at a premium to Brent until all of the refineries near Cushing are up and running and inventories in the region fall. We'll also have to see if progress is made in Nigeria now that the rebel leader has been freed.'' Brent, produced in the North Sea, has been higher than WTI this year because of rising crude-oil supplies in Cushing, Oklahoma, the delivery point for New York futures, and threats to supply from Nigeria and Iran. Most African, Middle East and European grades are priced in relation to Brent. Mujahid Dokubu Asari, a Nigerian militia leader arrested on treason charges, was freed by the country's high court on health grounds, the Movement for the Emancipation of the Niger Delta said yesterday. The release of Asari was one of the conditions set by the group to end attacks that have crippled Africa's biggest oil industry for more than a year. The Organization of Petroleum Exporting Countries should decide to leave oil output unchanged when it meets in September, Algeria's state-run Algerie Presse Service said, citing the North African nation's oil minister, Chakib Khelil. OPEC agreed to reduce supplies at two meetings in the fourth quarter of 2006 by a combined 1.7 million barrels a day to bolster prices. Market Outlook Crude oil may rise next week, according to a Bloomberg News survey. Eighteen of 37 analysts surveyed, or 49 percent, said oil prices will increase. Ten, or 27 percent, said prices will be little changed and nine forecast a decline. ``In the short-term the market should remain strong, at least until next Wednesday's report,'' said Justin Fohsz, a broker at Starsupply Petroleum, a division of GFI Group Inc., in Englewood, New Jersey. The Energy Department is scheduled to release its weekly report on petroleum inventories on Wednesday, June 20 in Washington. |
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bensonho
Member |
15-Jun-2007 22:14
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sure hit $8 in long run |
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tomwong
Member |
15-Jun-2007 21:55
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another diehard fan of SPC...thought it would hit $6 today after hitting a high of $5.85 yesterday...crossing fingers that it will hit $6 next week... |
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EastonBay
Master |
15-Jun-2007 16:43
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geojam is back! been busy counting ?? LOL |
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idesa168
Elite |
15-Jun-2007 15:31
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007... Penguin was a recommendation by Victoria. He was so bullish that make me feel that it's worth looking at it. When I first check the factsheet, I am not impressed with the numbers, plus it's a really small coy and risk is extremely high. Then Victoria posted some updated numbers with high NAV and posssible of 2nd listing story, I just go with him and play small small...make a little paper kopi $$ now. Shd have sold my house and car and hood BIG BIG...lol! Anyway no one knows what will happen after that, whether Victoria was right, HE WAS RIGHT!....as for SPC, in the begining of the yr, first time looked at the chart of SPC as the mkt was all talking about energy stock. Saw from 6 drop to 4 in one year. Thought it was good time to enter (gut feeling). This is one of the few stock listed in STI with less than 9 PE then. Floats not too many shares, so it's light to move as compare to SPH and and SIA, etc. Plus the coy starts with an 'S' for SPC, very safe lah...lol. So picked up 4 lots at 4.14. Then it appreciates, shiok liao, picked up more along the way. But I stopped buying in now. Fundamentally SPC has no issue lah...just that the stock was smashed down by the mkt. I am going to hold this one for many moons to come, unless coy changed fundamentally. I don't mind divvy at 45¢. Don't be scared if I tell you my TP for SPC..............................................................................................$8.40 in 4 yrs time...lol! My investment will be DOUBLE! |
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jkbk007
Senior |
15-Jun-2007 13:36
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ideas168, Pretty neat profit there from Penguin. By the way what is it that makes you feel so bullish about SPC? I am pretty confident that SPC will make good profit this year with good chance of breaking 2005 profit. I suspect dividend could hit 45-50 cents for 07. However until I hear SPC making a significant investment in E&P business, I am not so confident on their long term future. |
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idesa168
Elite |
15-Jun-2007 13:07
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Jessie, at what price u entered the Happy Feet? I went in at 25.5¢, still holding on. |
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jessie
Senior |
15-Jun-2007 12:34
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Geojam, I am not very much yonger than you. However, in terms of investing, then I am very "young" - still in primary school. Ideas168, I have also learn and benefited alot from Victorian. I am also very grateful to him for sharing all the hard work that he has done. I am now queing to sell Happy Feet :) |
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idesa168
Elite |
15-Jun-2007 11:58
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Victorian is making big in Happy Feet counter. I followed his call and made a little, thanks to him I am indebted to him one way or the other. Yes Jessie, I have high hope for SPC. My hold is a long term one, hence I set my target price far away, maybe another decade...lol! Talking about age, old or young does not matter, as far as we make our dough...BIG dough! I think SPC is currently taking a breather after surging for so many sessions. It was on the rise from low 4 to now near 6. It deserves a break. I also have realised that there is a gap up from 5.60. That gap is a trap. Shoudl SPC surge further now, I think it will revsist that gap again to close up. Hence, it's not a bad thing to close now than later. Good luck to all Gladiators of SPC, we are breaking the trojan soon...Cheers! |
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geojam
Member |
15-Jun-2007 11:16
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Dera jessie U cannot be older than me...hahaha. I will not be in Perth...during august,otherwise i can meet up with u. |
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jessie
Senior |
15-Jun-2007 10:56
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Dear geojam, Thank you for thinking that I am young. Yes, maybe I can buy the frozen roti prata when I visit Perth at the end of July/early August :) Hi Choo Hian, Yes, I was out of town. Went on tour to China - Dalian and Shanghai :) |
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choohian
Senior |
15-Jun-2007 09:23
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geojam, I kaypoh lah. I wish you well and lots of luck in your holdings. |
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