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SPC
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singaporegal
Supreme |
06-Feb-2007 20:36
Yells: "Female TA nut" |
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I still think SPC is showing some TA weakness. Be cautious | |
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chinkiasu
Master |
06-Feb-2007 20:28
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we are right folks, the big boys are not around and whatever influence they are just selling..... the buyers are all folks like us;
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KiLrOy
Master |
06-Feb-2007 19:17
Yells: "I buy only what I can see." |
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With the CCI in overbought condition, we may see a chance that the stock price will go into the 4.36 - 4.38 again. Next resistance is at 4.70. | |
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Livermore
Master |
06-Feb-2007 18:49
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Just hold and be PATIENT.............. | |
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YongJiu
Veteran |
06-Feb-2007 18:14
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hey giantlow, nickyng is really good in generate interest for SPC. I think he will do a good job in this ^_* cheers! |
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giantlow
Master |
06-Feb-2007 17:54
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pls sell all your SPC holdings at a cheap price to generate interest. hahaha | |
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traderwiz
Member |
06-Feb-2007 17:53
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still a long way to XD mah....have a bit of patience lah... | |
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fire26
Member |
06-Feb-2007 17:39
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Oil price has gone up to $59pb still SPC has not generated any interest. The big boys are still in control of the prices today. I wonder when will it break the $4.48 resistance!!! Losing interest in this counter. | |
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chinkiasu
Master |
06-Feb-2007 15:34
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hi, I thot I should add another post to give the Singapore perspective.. but I dont agree with Victor Shum that the cold weather would just last till Feb 18 . In the last few years, I have frequented NY, and know they even have snow as late as April.. I suspect that this winter can be prolonged (or rather delayed as December month was extraordinarily warm..) anyway we shall see.. AFX News Limited Oil prices higher in Asian trade as cold weather in US continues 02.05.07, 9:38 PM ET SINGAPORE (XFN-ASIA) - Oil prices were firmer in Asian trade on forecasts for further very cold weather in the US, the world's biggest energy consumer, dealers said. At 10.00 am (0200 GMT), New York's main contract, light sweet crude for March delivery, was up 15 cents to 58.89 usd a barrel from 58.74 usd in late US trades overnight. Brent North Sea crude for March gained 18 cents to 58.28 usd. 'The weather forecasts out of the US indicate the cold weather will persist until February 18,' said Victor Shum, an analyst with energy consultancy Purvin and Gertz in Singapore. 'I think in Asia, the markets this morning are reacting to the late winter in the US,' he said. With the cold spell expected to continue into the second half of February, heating oil demand is expected to increase, dealers said. Latest figures from the US Department of Energy showed that US distillate stocks -- including diesel and heating oil -- fell by a surprisingly large 2.6 mln barrels in the week to January 26. US crude oil reserves meanwhile climbed 2.7 mln barrels last week, compared with forecasts of an increase of 1.5 mln barrels. The northeastern United States is the biggest consumer of heating oil in the world and the cold spell has raised concerns US heating oil reserves could be quickly eroded. In the short term, prices should hold above 55 usd but they are unlikely to get through 60 usd just because of the cold snap this late in the winter, dealers said. 'I doubt the cold weather in the US would be enough to break above 60 usd,' said Shum. '(On Monday), the market tried in the US but it looks like they could not and people started to take profit.' The icy weather has come as the Organization of the Petroleum Exporting Countries trims its oil production in a bid to arrest a slide in prices which have retreated from highs above 78 usd reached in mid-2006. In December, the cartel decided to reduce production by 500,000 barrels per day from February 1, following a cut of 1.2 mln bpd in November. bh/bmm/zr |
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nickyng
Supreme |
06-Feb-2007 14:39
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nah..din short today...dun hv that confidence...maybe tomor :P |
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chinkiasu
Master |
06-Feb-2007 14:27
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since there is some interest in cold weather, here is another extract shot: MSNBC and NBC News Updated: 7:42 p.m. ET Feb. 5, 2007
Schools were closed, icy interstate highways were shut down and major city streets were deserted moonscapes Monday as frigid arctic conditions blanketed the Midwest and the East Coast in deep snow and wind chills well below zero. The streets of Chicago were mostly empty as only a few hardy pedestrians bundled up to ward off wind chills that reached 30 below zero. The official low Monday morning, 13 below, was the coldest recorded in the Windy City in more than a decade, NBC?s Kevin Tibbles reported. ?The fingers start getting cold, the feet start getting cold,? said Art Jimenez, who delivers the mail in Chicago. ?Try to move as fast as you can.? |
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iPunter
Supreme |
06-Feb-2007 13:37
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With global warming reaching a worrisome state, any coldness must be relished, in spite of the temporary havoc it can cause. | |
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iPunter
Supreme |
06-Feb-2007 13:33
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Looks like SPC's trend reversal is confirmed... the funds will most likely push it higher from here on... | |
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bunbun
Senior |
06-Feb-2007 13:28
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where's our nicky??? nick, did you short today? :) | |
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chinkiasu
Master |
06-Feb-2007 13:19
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ya loh... alamak.. very obviously someone is playing this counter.. it is defying logic (presumably if I am correct). but alas, you cannot fight market forces... btw the artic air is causing havoc in the US, particularly the Northeast.. but like someone says, who cares ... the irony is that not to long in even in this thread it was of concern... By ROGER PETTERSON, Associated Press Writer 2 minutes ago A bone-chilling cold wave with temperatures as low as 42 below zero shut down schools for thousands of youngsters Monday, sent homeless people into shelters and put car batteries on the disabled list from the northern Plains across the Great Lakes. At least five deaths were linked to the cold weather. |
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Icecube400
Member |
06-Feb-2007 12:48
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You are right. Price dropped to 4.42 today. In fact, most counters look like they are going down today... |
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geojam
Member |
06-Feb-2007 08:08
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I thnk SPC will open weak this morning. | |
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geojam
Member |
06-Feb-2007 07:39
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Thanks chinkiasu.I am impressed. I think i will hang on to my SPC until ex. |
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shplayer
Elite |
06-Feb-2007 07:26
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chinkiasu, No problem with your calcs but a comment on one of your assumptions....'the refining margins should be healthy since all the major maintenance have been done'. Refining margin is dependant on supply/demand of refining capacity worldwide. Refineries often take the opportunity to remove some capacity from the market by doing maintenance when margins are low. So, it does not mean that when maintenance is done, margins go up. If anything, it is the converse. Furthermore, SPC announced sometime ago that SRC plan to upgrade the facility. Details have not been announced yet.....and this, I suspect will require some plant shutdown. |
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chinkiasu
Master |
06-Feb-2007 06:47
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i think I should also do some calculations as to why I think it would go to $4.60. First, the share price should assuming we have a EPS of 0.5538, and PE of 8, factoring dividend, the price of this share should be $4.43 + 0.35= $4.78. But if the foreign want to come in, with our strong S$ plus bullish regional economy, they should be very happy with PEs of about 13 (by comparision Keppel Corp today is around 20 and Singtel about 14). This means ex dividend a price of 13x0.5538 or $7.20. In terms of value for money we are talking for every dollar invested at PE 13, they will get 7.7% per annum which above US savings rate about say 6% without the risk of dollar losing value... and my assessment is that the eps for 2007 should go up above 0.5538 as we all know that MM Lee has said corporate tax will certainly go down by at least 1% (the 2% GST increase element will be passed to consumers) and like we have posted before, the refinery margins should be very healthy since all the major maintenance have been done.. now back to pure defensive dividend play for us locals... where is the max price to take advantage of dividend payments? I say 4.60 (which if it is ex dividend mean a PE of a healthy 8.3) and because the 35 cents gain after 3 months translate to 30.4% pa. and if we still think the PE should be 8, which means a fair price of 4.43, then the earnings would be 17cents the gain of which for 3 months translate to 3.7% pa, much better than putting your money in the bank. So that is the max "loss" for this stock or worse chinkiasu position? so why wait???? dear "Sifus", do pls check my reasoning and calculations.... i am suffering from jetlag.. |
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