My Trading Adventure

Stock Alert : O&G

CP TEH
Publish date: Mon, 01 Aug 2016, 06:50 PM
CP TEH
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All the writings in this weblog are mainly for PLEASURE reading purposes. I am in NO position to recommend a call(BUY/SELL). Please check with those know-hows before you make a decision. Yes, I am just a learner, with only five years experiences in KLSE. So, please BEAR with me.
Following Message



Alam : At new low, 31cents ... gapped down today. It is down 80% from the peak.


Coastal : Dropped 70% from the peak ... at RM1.50 now. At whatever level we bought inside here, one might have a huge paperloss now.


Perisai : Closed 22.5 ... dropped from RM1.70 ... so many retailers STUCK inside ... wonder why? Because cut-loss is too painful, many average it down.

Note : We do not average down non-dividend, cyclical stocks ... and market NOT crash yet.

e-mail : Someone asked me about Coastal ... if break RM1.40, new low will be registered. I will not recommend to buy more or hold into O&G counters. The bottom is not there yet.

TEH
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Discussions
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Gokula Krishnan

Perisai and Alam are in the FPSO domain, one of the most affected. To me, to survive, they should delist or merge. Lets not forget, the monster Icon offshore. If these 3 merge, you will have by far the largest FPSO and rig provider in this part of the world (not sure who else is bigger) but there is just no business. Who's going into exploration now at USD45 per barrel of oil?

2016-08-02 08:38

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