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SPC
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singaporegal
Supreme |
17-Nov-2006 21:12
Yells: "Female TA nut" |
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Still Downtrending now.... |
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rickytan
Veteran |
17-Nov-2006 17:09
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Hi lg1167, wow, within one month price came down from $5.70 to $4.30 that's really a plunge. Hope you didnt buy too many lots.... Blue chip can also make one become "blue black ". Sigh....... |
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Livermore
Master |
17-Nov-2006 17:08
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The rise and fall of crude oil affects gasoline price as gasoline price moves together with crude oil price. Crude oil price bought by SPC a month ago was at a low price so if crude oil price rally towards the year end, it will push gasoline price and refining profit margins would increase. |
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lg1167
Member |
17-Nov-2006 16:57
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My biggest mistake for yr 07 is to buy SPC@5.70.......... really laosei |
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lynn89
Member |
17-Nov-2006 14:35
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SPC is well into Oversold territory, price is too low. Good for bargain hunters ! |
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lg_6273
Elite |
17-Nov-2006 12:36
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There was a write-down of $71.0 million in inventories to net realisable value during last Q3. If price goes down further, there will be further write-down which will erode profit |
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nickyng
Supreme |
17-Nov-2006 11:51
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well...SPC seems got nothing to do with cruel oil up down too much rite? it is a refinery...so if cruel oil price is low..but the demand for refined oil is still there....dont think SPC share price will be affected significantly correct??? with global economy growing...indirectly the demand for refined oil should sustain...eg..like air travel-jet fuel...cargo ship...ship fuel..etc...or are we missing the big pic?? :) |
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starfire
Member |
17-Nov-2006 11:48
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But with a inventories so high, even OPEC cut production by 1 million barrels that might not be enough to bring the oil price up. I think we've better sit tight, enjoy the X'mas and New Year holidays first and look forward to year 2007. |
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YongJiu
Veteran |
17-Nov-2006 10:10
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Oil Falls Most Since August 2005 on Signs OPEC Won't Make Cuts 2006-11-16 18:30 (New York) By Mark Shenk Nov. 16 (Bloomberg) -- Crude oil fell the most since August 2005 in New York on forecasts for an increase in OPEC oil shipments and a warmer-than-normal winter that would curb demand. Oil shipments from OPEC members will rise this month, according to a weekly report by Halifax, England-based consulting company Oil Movements. The Organization of Petroleum Exporting Countries agreed last month to cut output by 1.2 million barrels a day. U.S. government forecasters said today the El Nino weather pattern will cause a mild winter in the northern U.S. ``The Oil Movements report added uncertainty about OPEC's cuts back into the market,'' said John Kilduff, vice president of risk management at Fimat USA in New York. ``We saw a lot of fund liquidation after the report today. The surging stock market has attracted a lot of the dollars that would otherwise be moving into energy markets.'' Crude oil for December delivery fell $2.50, or 4.3 percent, to $56.26 a barrel on the New York Mercantile Exchange, the lowest close since Nov. 18, 2005. Oil had the biggest one-day decline since Aug. 17, 2005. Prices are down 2.8 percent from a year ago. Investors pushed prices higher the past four years as they poured money into energy, where returns outpaced other markets. U.S. stocks rose for a fifth day and are heading for the seventh weekly advance in the past eight weeks. The Dow Jones Industrial Average climbed 54.11, or 0.4 percent, to 12,305.82 in New York. The Standard & Poor's 500 Index added 3.19 to 1399.76. The Nasdaq Composite Index rose 6.31, or 0.3 percent, to 2449.06. Higher Temperatures Above-average temperatures will cover the northern third of the U.S. from coast to coast this winter as El Nino persists, the U.S. Climate Prediction Center said in a report that covers December through February. A warmer-than-normal winter in the region would reduce demand for heating oil, natural gas and other fuels used to run household and commercial furnaces. El Nino refers to the warming of the ocean surface off the western coast of South America. The phenomenon affects the jet stream, alters storm tracks and creates unusual weather patterns. A moderate to strong El Nino typically brings mild winters to the northern U.S. OPEC shipments will rise 0.9 percent in the month to Dec. 2 to 24.8 million barrels a day, compared with 24.6 million barrels a day in the four weeks ended Nov. 4, Oil Movements said today. Divergent Views According to Geneva-based consultant PetroLogistics Ltd, crude oil shipments from 10 OPEC members with production targets, all except Iraq, will probably fall 1.1 million barrels a day, or 3.9 percent, to 27.2 million barrels a day this month. OPEC will discuss production at its next meeting, which is scheduled for Dec. 14 in Abuja, Nigeria. Natural-gas stockpiles rose 5 billion cubic feet to 3.45 trillion cubic feet last week, an Energy Department report showed. Some users switch between oil-based fuels and natural gas depending on cost. Crude-oil supplies rose last week, the department said yesterday. ``We are building natural-gas supplies as we get closer to winter, which is bearish,'' said Ric Navy, a broker at BNP Paribas SA in New York. ``Also, yesterday's report showed a big gain in crude oil. There's just too much stuff around for prices to move higher.'' Crude-oil inventories rose 1.2 million barrels to 336 million barrels last week, the Energy Department report showed. It left stockpiles 12 percent higher than the five-year average for the week, the department said. Brent crude oil for January settlement declined $2.07, or 3.4 percent, to close at $58.54 a barrel on the London-based ICE Futures exchange. --With reporting by Grant Smith in London and Geoffrey Smith in New York. Editor: Link. |
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dxxxxxxd
Member |
16-Nov-2006 20:36
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I agree. Oil price hikes particularly when there is a Middle East or South Africa crisis, or natural hurricane hitting oil supplies n we never know when. I take it like buying insurance to accumulate defensive stocks. Sad to say it confirms a downtrend on TA@today's closing price... |
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chew8888
Member |
16-Nov-2006 20:17
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Starfire, That's what I thought few weeks back and went in with high price, thinking the oil price will rise. Look like I will have to wait for awhile.... |
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starfire
Member |
16-Nov-2006 17:14
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My personal advise is to hold this counter. And accumulative buy on weakness as i believe sooner or later oil price will rise again. |
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singaporegal
Supreme |
16-Nov-2006 15:39
Yells: "Female TA nut" |
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Looks to be heading south some more... |
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gho485
Senior |
16-Nov-2006 15:36
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i think its the downtrend for this counter. I sympathize with those whom have bought it at high. I have a trading habit. If the price has fallen so much, I would average down my position. SPC business fundamental is good. Can hold onto it. |
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lg_6273
Elite |
16-Nov-2006 15:22
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i m still holding @ 4.8 til next year, no pt selling now |
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hughsh2004
Member |
16-Nov-2006 15:20
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I'll ave down at price S$3.90 range again .. SPC is fundamentally gd |
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chipchip66
Master |
16-Nov-2006 14:49
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my advise is to average down! however, you will probably see this price again only when crude oil price starts to move north again! |
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lg1167
Member |
16-Nov-2006 13:36
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What happen to SPC.....bought @5.70 last month. I always believe that company deals with crude oil make good profits but NOT SPC!! please advise should i sell down or hold! Desperate. |
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Nostradamus
Supreme |
07-Nov-2006 11:21
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Asian oil refining margins will likely recover in the first half of 2007 following a recent retreat, particularly for those refiners able to produce cleaner fuels, a Merrill Lynch research report said.
"The weakness in margins ... belies the fact that we are still positive on the 2007 margin environment," said the report dated Nov. 6. This maintains Merrill's view in a September report that the margin declines were driven by short-term factors and did not reflect any deterioration in the long-term fundamentals. The expected lack of new refining capacity should further tighten the global oil products demand and supply picture, the report said, adding that demand growth would continue to be driven by transportation fuels such as diesel, jet and gasoline. Fuel oil margins will remain weak and the differentials between light and heavy crudes would remain wide, it said, which means refiners with the technology and facilities to convert dirty crudes into clean fuels would fare well in 2007. Merrill Lynch said it had downgraded its forecast for 2006 Singapore complex refining margins by 13.3 % to US$7.80 per barrel from US$9 a barrel in light of the recent pullback. Gasoline margins have fallen 78% since their peak in May, due primarily to weak U.S. demand, it said, while fuel oil margins were dented by further fuel switching. Although gasoil and jet-kerosene margins have been falling since their June highs, their spreads remain "relatively healthy" and gasoline margins will rebound in the first half of 2007 "as transport demand reasserts itself", the report said. The recent refining margin collapse has forced refiners to cut run rates and would delay planned refinery projects, it said. If this happened, it would cut into future supply. "The probability of capacity deferrals in 2009-2010 has increased in our view," it said. |
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YongJiu
Veteran |
07-Nov-2006 01:33
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this really a yo-yo counter at the moment. weak heart people should stay away =) |
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