
limkt009 ( Date: 28-May-2008 09:27) Posted:
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DJ MARKET TALK: SPC Off 1.6%; Charts Tip More Downside -OCBC (2008/06/03 10:46AM)
0246 GMT [Dow Jones] Singapore Petroleum (S99.SG) heads lower as worries on refining margins continue to overshadow positive impact from high oil price; share down 1.6% at S$6.68. Company gets some benefit from higher oil prices in its upstream E&P business, but refining is biggest driver of profit and there are worries new refining capacity may depress margins. OCBC Investment Research says technical analysis suggests stock could head lower; "the price decline was made on the back of rising volume, indicating there is more downside ahead." Adds share price has broken below short-term uptrend line and 50-, 100-, 200-day moving averages, suggesting price weakness may persist. But says oversold signal from short-term stochastic indicator means there could be a minor pause or rebound before downtrend continues. Tips immediate support at S$6.50, which has been key consolidation level over last 12 months, with subsequent support tipped at S$5.20. Presence of low traded volume today suggests selling interest fairly muted at present, supports view of near-term consolidation with order book showing decent buying interest at S$6.60. (KIG)
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(END) Dow Jones Newswires
June 02, 2008 22:46 ET (02:46 GMT)
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My cost 4+, and have seen it go as high as 9+ also never sell.
Come down some more, i buy some more.
iPunter ( Date: 02-Jun-2008 21:17) Posted:
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louislauwm ( Date: 03-Jun-2008 09:41) Posted:
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oil price shoot back to 127.76, means spc price will shoot back up?
Long-term holders must sell when their profit is good.
If not, what's the point of holding long in the first place?
Holding longer for higher profit is not advisable since stocks are virtually roller coasters by nature...
Then, one would be really a time waster, not investor..
AK, me got two lots at 7.22.
Hmmm. Your view is better to let go eh? You dont think it's going to go back up to above $7 anytime soon is it?
Thanks. :-)
AK_Francis ( Date: 02-Jun-2008 10:46) Posted:
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Hmm.. will SPC slide further or hold ?

AK... :)
You have the right attitude for playing stocks ie. never have any hard feelings for stocks.
Stocks are stocks... they go up and down like nobody's business. If we feel too much for stocks, we can suffer a lot.
Beter to treat stocks as animals that can behave strangely and not the way we love them to be.
Never be too bull or bear on any stock.Otherwise, like that Steven ?.. one can be stung mercilessly
by a stingray...
it seems all gone wrong for spc at the momo....