SPC   

SPC

On one of my trend lines, a major support is at 3.98 or thereabouts. Hence that could a good entry point since it will be regarded as a bouncing platform ie. a trampoline. This is one entry method.

After a long downtrend, it is normal for a reversal pattern, either a double bottom, triple bottom, down flag, right-angle triangle, etc...can be formed due to the long-term conditioning of the holders, many of whom will 'cut loss' at the first sign of a small rebound. Also, it may turn out to trade sideways too, which is another entry method for those accumulating.

So until a 'proper' reversal pattern is formed, if you enter, the risk of it being only a rebound is there ie. the downtrend may not have ended yet.

 

ipunter,

Quick question -as mentioned, it will form a proper reversal patter slowly, does that mean it is still on a downtrend? you mentioned it will take weeks for the pattern to form, why go thru the pain of seeing red each day when you can collect it later at lower entry price.

i was trading this counter when it was at 5.85 and did an exit at 6.50 (almost the highest). it has now come that lower to 4.16. i hold back cos i see the down trend. i reckon for those who wants to bet on this counter to be caution.

 

iPunter
Master

Hi! Would u care to elaborate more about the "3.98 trampoline" u mentioned below? What's the significance of this? Pardon me for my ignorance.

Thanks.

 

When the bottom is forming, it will be obvious in the chart. It will not just mak ea U-turn... It will form a proper reversal pattern slowly, maybe taking weeks.

 

gho485 is right.... I can't see an end to this downtrend.

Those of you who are vested need to decide what to do.

 

Chart shows a downtrend. I am glad there are still a few optimistic people out there. This counter has been down almost 24cts in since last trading of 2006. Stock fall faster than gain, it not for those faint hearted. It should go lower. Trade will care.

 

 

jackjames

Yeah. I approached the Phillips speaker during the break and questioned him on his assumptions. Btw last year I attended his presentation during Q1 and he predicted USD81/bbl in July and was only 3 dollars off... Basically he uses money supply to do his projections. I think it wont be that drastic as 24/bbl. But around 40/bbl maybe...

 

wow...new low everyday hee....

 

I believe oil prices will fall to the 200-day MA and rebound from there. Similarly, SPC could fall to around $4 and then rebound to $4.30-$4.40.



Oil prices are definitely on a downtrend. Cut loss on SPC if you have to.

 

Hehehe.... looks like what happens to my Chinese Essay during A-levels after my teacher marks it.... All red!

 

All in red........but one big greeen

09:46:44	4.120	1,000	Sell Down
09:45:20	4.120	30000	Sell Down
09:36:09	4.120	1000	Sell Down
09:36:03	4.120	79000	Buy Up
09:35:26	4.120	21000	Sell Down
09:34:13	4.120	1000	Sell Down
09:34:07	4.120	3000	Sell Down
09:33:56	4.120	1000	Sell Down
09:33:21	4.120	5000	Sell Down
09:33:12	4.120	20000	Sell Down
09:32:41	4.140	1000	Buy Up
09:31:38	4.120	1000	Sell Down
09:31:32	4.120	26000	Sell Down
09:27:51	4.140	5000	Buy Up
09:23:28	4.120	3000	Sell Down
09:15:13	4.120	3000	Sell Down
09:13:39	4.120	50000	Sell Down
09:13:37	4.140	20000	Buy Up
09:13:29	4.120	6000	Sell Down
09:12:20	4.140	32000	Sell Down
09:07:59	4.140	1000	Sell Down
09:05:02	4.180	61000	X
09:01:41	4.160	22000	Sell Down
09:00:55	4.160	1000	Sell Down
09:00:04	4.160	5000	Sell Down
08:59:03	4.160	22000	X

 

Ref BP article posted by ROI25per, 4Q ave refining margin for Spore at USD2.95 per bbl is not good news for SPC's 4Q result.

Coupled with lower oil price (upstream revenue), my revised estimate of FY06 eps is about 53cts. Div will probably be about 17-18cts.    

 

Still falling... I guess its keeping in tandem with the global oil prices

 

can't load the image, dun know why..

anyway, 22 lots sell down at 4.16, 32 lots sell down at 4.14, 50 lots sell down at 4.12...

 

SPC up the lorry already.....

 

http://www.bp.com/extendedgenericarticle.do?categoryId=2012968&contentId=7027449

4Q may not be good; attached is BP refining margin in Singapore[a good gauge for SPC]

It may test <4 but I m vested for long term... 

 

Temasek is looking at long terms.

 

hmmm elf & billlec

Temasek's stake was increased from 44.07 % to 45.02 %.

it was done indirectly thru DBS and Keppel.

is it the same as Temasek buying???

 

hahaha jackjames. ya someone shld actually tell this so call experts a piece of our minds eh.

ok. i will only monitor SPC after the mkt closes everyday.

 

I am going to be ironic and intro some market noise now. Take it with a pinch of salt.

15:26 US TECHS: Commodities Outlook; Gold and Oil] Boston, January 9.         
Following last Friday"s strong drop, [gold] is forming a flag this week with downside resolution anticipated.  Daily trendline support is at $597 Feb, though pivot supports at $605.50 would first have to give way.  Trend Intensity has latched on to a steady bearish trend signal in this market that commenced Friday from excellent levels and should uptick bearishly again today.  Larger downside targets for gold are a shade below $575.  Monthly trend models were working on a bullish setup before the break, and can still pull it out with a Jan close above
$625.  As before, 200-day moving averages at $616 are an upside barrier now.    
The latest weakness in [oil] is setting Trend Intensity up for its fifth consecutive double uptick, a phenomenon not recently seen given that bear market
runs of this extent have been a rarity in the energy markets.  The parabolic drop is feeding on itself, and having hit new recent lows, Elliott wave targets
on nearest futures target the $50.00-52.50 zone as closest major support.  200-weekly moving averages are just above there at $52.60.  On monthly charts, major support at $54.50 has been broken intraday.  Any short-term lift today should stumble near $55.00 Feb.  Joel.Marver@thomson.com