Yes...if war...then oil might rebound. But wishing for a war is not a good wish...many people will die. I rather I lose some money than to witness a real war to happen. Worst come to worst just cut loss and stay sideline.
I am stuck at 63 cents. I am also contemplating whether to get more. Korea war wont happen. north korea is not strong enough economically to do it, south don't want war but cannot lose face. need to show power.
Bought yday n this morn...sold all for a small profit...was just testing my chart reading skills...Further upside possible but with a long n uncertain weekend looming...I rather stay on the sidelines. What goes up must always come down...I'll wait downstairs.
Oil prices extend gains after biggest daily climb in six years
Crude oil futures rose on Friday, adding to their biggest one-day rally in over six years the day before, led by recovering equity markets and news of diminished crude supplies.
U.S. crude is on track for its first weekly gain in 11 weeks, ending the longest losing streak since 1986. Brent crude is set for its first weekly gain in two weeks.
Asian shares extended a global rally on Friday after upbeat U.S. economic data calmed sentiment, with Chinese stocks jumping for the second day following a rocky start to the week.
October Brent crude was up 69 cents at $48.25 per barrel as of 0615 GMT. It settled $4.42 higher at $47.56 per barrel in the previous session. U.S. crude was 65 cents higher at $43.21 per barrel, after ending up $3.96 at $42.56 per barrel.
The corresponding crude options market, however, remained muted on Thursday, suggesting most big traders were shrugging off the move as merely a correction in the year-long bear market.
"A short covering rally, led by crude oil pushed commodities higher across the board. Better than expected U.S. GDP numbers was the main spark, although the force majeure on BP's exports from Nigeria extended the gains," ANZ said on Friday.
"The recovery in commodity prices looks fragile with concerns over China's growth still weighing on market activity."
The U.S. economy grew faster than initially thought in the second quarter on solid domestic demand. Gross domestic product expanded at a 3.7 percent annual pace instead of the 2.3 percent rate reported last month, the Commerce Department said on Thursday.
Shell's Nigerian unit declared force majeure on Bonny Light crude oil exports on Thursday after shutting down two key pipelines in the country due to a leak and theft.
BMI Research, part of the Fitch ratings agency, said: "the renewed weakness in Brent is overdone from a fundamental perspective and due to recover into the US$50.00-60.00/bbl range within the coming months...With the next long-term line of support around USD35.00/bbl, we explore the potential catalysts for a move lower in Brent."
China's falling auto sales have been at the forefront of concerns that its economy is slowing much faster than expected, weighing on oil prices.
To come up with a plan to stop declining global oil prices, Venezuela has been contacting other members of the Organization of the Petroleum Exporting Countries (OPEC), pushing for an emergency meeting with Russia, the Wall Street Journal reported.
(Reporting by Meeyoung Cho and Aaron Sheldrick; Editing by Anand Basu and Michael Perry)
KNM Group Bhd has clinched an engineering, procurement, construction and commissioning (EPCC) contract worth RM268.5 million from Cypark Sdn Bhd.
In a filing with Bursa Malaysia today, KNM said its wholly-owned subsidiary, KNM Process Systems Sdn Bhd (KNMPS), has secured the contract through SHK Consortium, a consortium company formed between KNMPS and Hitachi Zosen Corporation.
It added KNMPS has today received a letter of award from Cypark to undertake EPCC works in respect of the Solid Waste Modular Advanced Recovery and Treatment Systems Waste Management Solutions at Ladang Tanah Merah, Negeri Sembilan, Malaysia (SMART WTE System).
According to KNM, the contract covered the offshore portion for the EPCC works in the sum of 3.893 billion yen (equivalent to about RM135.38 million), and onshore portion of the EPCC works in the sum of RM133 million only.
Bullish Breakout Patterns - Double Top Breakout, Triple Top Breakout, Spread Triple Top Breakout and Quadruple Top Breakout are covered in this group. Bearish Breakdown Patterns - Double Bottom Breakdown, Triple Bottom Breakdown, Spread Triple Bottom Breakdown and Quadruple Bottom Breakdown are covered in this group. Bearish and Bullish Signal Reversed - These patterns resemble a rising flag or falling flag on a classic bar chart. Bullish and Bearish Catapults - Many P&F aficionados consider catapult signals the strongest. Catapults mark a classic breakout, a mild correction and a continuation breakout. Bullish and Bearish Triangles - These patterns resemble triangles in bar charts, but a basic P&F signal is required for confirmation. Bull and Bear Traps - These patterns are just as they sound. A bear trap suckers the sellers before rallying, while a bull trap suckers the buyers before declining.
Learning extra Technical Analysis is good to our idiotic mental when trading in the risky share market.
EPF bought in KNM in 26 and 27 Aug and then new contract news annouced on 28Aug. izzit obvious their have a something news in advance? hopefully EPF is not playing short term!!!! WTH!
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This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
nomanland
3,221 posts
Posted by nomanland > 2015-08-23 08:59 | Report Abuse
Those invested in oil and gas counters, should read this article
http://oilprice.com/Latest-Energy-News/World-News/Why-20-Oil-Wont-Happen.html