At some point...OPEC and Russia are going to feel the ridicule to bleed from the pocket and return to talks... shale producers will either go bust or reduce Capex...bet on oil stocks better than tech stocks now...tech stocks still have long way to correct after rallying for so long.
Covid-19 make economy slow down company fundamental will metamorphism and company with high debt will face collapse or bankruptcy soon.Expect local and foreign funds money would not flow in big cap and mid cap stock because everybody scare buy high losses money . In this few month expect Funds manager money would flow out in bigcap and midcap stocks and will short selling midcap stocks for make money so now no prospects cannot buy and hold. market stock RM10 drop to RM5, RM5.00 drop to RM 2.00 , followed RM2.00 drop RM1.00, followed RM1.00 drop to 50 cent, followed 50 cent drop to 20cent ,followed 20 cent drop to 10cent ,followed 10 cent drop to bottom. High debt company cannot hold ,high prices stock cannot hold , market never sleep money never sleep just buy bottom low prices with cash rich company . This is a opportunity markets smarts money no longer will flows in cheaper stocks market will goreng lows price stock at bottom.
Oil prices could hit teens in coming weeks as markets crater over coronavirus and price war
Published Tue, Mar 17 20207:36 AM EDTUpdated 3 hours ago
~ Oil could fall below $20 a barrel and “stock markets could easily shed another 30-40% of their values,” one analyst said.
~ The biggest shocks will likely come after April 1, when Saudi Arabia and Russia ramp up their crude production after a previously-agreed OPEC+ deal expires.
~ “The last time there was a global surplus of this magnitude was never,” Jim Burkhard, head of oil markets at IHS Markit, wrote Monday.
Dayang sinks...Perdana will retreat but downside is limited...it's only 0.11 sens afterall...when Dayang rallies again...0.11 will be considered dirt cheap...of course can get below 0.10 better lo. .
Oil plummeted 12% to a nearly 18-year low on Wednesday as the coronavirus pandemic continues to sap demand for crude and as rising worries about a global recession lead to fears of longer-term demand destruction.
U.S. West Texas Intermediate crude fell 10.7%, or $2.75, to trade at $24.20 per barrel. At the session low, WTI dropped more than 12% to $23.60 per barrel, its lowest level since April 2002.
International benchmark Brent crude shed 6.2%, or $1.80, to trade at $26.92 per barrel. Earlier it traded as low as $26.65, its lowest level since Sept. 2003.
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Depeche
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Posted by Depeche > 2020-03-13 13:08 | Report Abuse
At some point...OPEC and Russia are going to feel the ridicule to bleed from the pocket and return to talks... shale producers will either go bust or reduce Capex...bet on oil stocks better than tech stocks now...tech stocks still have long way to correct after rallying for so long.