Posted by Gemstar > 2020-05-13 14:59 | Report Abuse

Add some velesto to my portfolio today ... oil will bounce back strong.. keep in fridge 1st

Posted by nicholas99 > 2020-05-13 15:05 | Report Abuse

ya. no forever cheap oil.

Posted by JoshuaMS7 > 2020-05-13 15:48 | Report Abuse

what happen to this counter? dropping everyday while oil price spike everyday?? any problem?

Posted by nicholas99 > 2020-05-13 15:52 | Report Abuse

kena covid. https://www.theedgemarkets.com/article/covid19-velesto-confirms-chairman-tested-positive-virus

Posted by nicholas99 > 2020-05-13 15:53 | Report Abuse

wait arab come save

Posted by tkl88 > 2020-05-13 16:21 |

Post removed.Why?

Posted by JoshuaMS7 > 2020-05-13 17:01 | Report Abuse

but velesto keep dropping until 0.130 ...

Posted by linheng > 2020-05-13 17:05 | Report Abuse

Keep going down. Who selling

Posted by martinking > 2020-05-13 17:07 | Report Abuse

go down = top up chance. huhuhu

Posted by JoshuaMS7 > 2020-05-13 17:16 | Report Abuse

should be EPF selling so huge volumes selling today!!

Posted by linheng > 2020-05-13 17:24 | Report Abuse

https://www.thestar.com.my/business/business-news/2020/04/26/petronas-refutes-allegation-of-oil-rigs-shutown. Petronas deny shutting down oil rigs. Most of Velesto oil rigs are used by Petronas

Posted by DChosen2 > 2020-05-13 18:00 | Report Abuse

oil price spike? r u hallucinating or what. Oil price has been dropping and sidewaying for the last whole week...

Posted by DChosen2 > 2020-05-13 18:03 | Report Abuse

couple with the fact WTI June contract going to expire on 19 May. The oil price's movement of this week till next Tuesday i believe will be for downtrend.

Posted by offshore > 2020-05-13 18:06 | Report Abuse

If you think oil price below USD30 is just a temporary event, you can buy this share, if you think oil price is going to be stuck below USD30 for a long time, then don't buy.

Posted by HuatlaiOnglai > 2020-05-13 19:11 | Report Abuse

The market reaction is on their upcoming Q1 report. It’s going to be bad but how bad could it be?

Posted by atomic5 > 2020-05-13 19:36 | Report Abuse

Brent and crude turn green

Posted by RedEagle > 2020-05-13 20:55 | Report Abuse

RUTIN HARIAN SEBELUM MASUK MARKET

1) pastikan market sihat ataupun hijau
- tgok market luar selain Bskl

2) tengok sektor yg aktif
-Pastikan stock yg dipilih ada kaitan dgn sektor
-tgok dlm isaham dlm bhg sector

3) pilih kaunter uptrend shj.

4) tgok pd kompeni.
- melibatkan sedikit fundamental. Lebih pd investor. Bg trader cukup skadar tau kompeni ni konsisten profit. Tgok pada revenue profit sebagai semakan.

5) catalysis- penggerak yg menyebabkan harga bergerak. Selalunya digerakkan oleh institusi besar . Jerung ,sindikit dan lain2 faktor. Share buyback ,right issue stock split bonus issue juga terlibat sama dlm menggerakkan harga.contoh paling simple tgok pada director company..kalu director sndri beli share syarikat maksudnya positif.

6)price:- ada 3 ciri
Range trade atas 20sen keatas
Movement-pergerakan yg senang diramal.
Candle shape- kenalpasti candle yg memberi signal.

7) volume:-cari volume yg aktif bg memastikan ada suply N demand.

8) support:- teknik buy on support lg selamat dan murah harganya.

9) confirmation:- lebih pd buy signal. Bole tgok indikator ( RSI ) above 30% 50% 70% atau candlestick.

10) money management:-pengurusan wang.
10% trade
90% investor
Skill masing2.
Risk and Reward.

Posted by atomic5 > 2020-05-13 22:24 | Report Abuse

(Bloomberg) -- President Donald Trump’s top energy official said the oil industry is on its way back after suffering crippling losses from an unprecedented price collapse.

“We now have 23 states that are opening up their local economies, that represents roughly 40% of the gasoline demand in the United States,” Energy Secretary Dan Brouillette said in an interview with Bloomberg Television on Tuesday. “We’re starting to see oil prices stabilize.”

The oil market has staged a modest recovery since prices plunged into negative territory last month for the first time ever, amid signs that demand is making a gradual comeback and as producers cut output to erode a supply glut.

The Energy Information Administration on Tuesday announced modest downward revisions to its oil production estimates for this year and next, and revised up its forecasts for oil prices compared with April.

Brouillette shrugged off the risk that U.S. output could come back too quickly and threaten the market’s recovery. Pipeline giant Energy Transfer LP said on Monday that some drillers in the Permian are reopening wells that were shut in response to the pandemic-driven collapse.

“The third and fourth quarters in 2020 and certainly into 2021 are going to be very, very robust,” Brouillette said, with production coming back online as the economy takes off.

Posted by Macgyver11 > 2020-05-13 22:56 | Report Abuse

Jan & Feb, Velesto rigs in full operation until 18 March. MCO implemented on 18 March (if I'm not wrong)...so Velesto got 2.5 month of full operations. I believed 1st qtr even not favourable but not as bad as we think.
April onward , Malaysia Government imposed strict movement control. Only essential products manufacturers allowed to operate. That mean, O&G not in that categories and NO rigs operation start from 18 March to end of April. May onward conditional MCO implemented whereby most of the industry permitted to operate that included O&G sectors. Velesto lost 1.5 month in rigs operation for 2nd qtr....you all do the figure.

2) Brent still stable 29 - 30. Now due to supply more than demand + storage capacity issues + restrictions in flights and etc etc...but I believed the cloudy period will be over and oil will hit 35 ++soon.

Nevertheless, Velesto is still good company with strong back from Amanah and PNB. EPF out temporary and I believed their withdrawal from this counter due to the recent incentive scheme that announced by our PM. They need huge amounts of money to cater rakyat needs. Once everything settle, they will join back.

This is my opinions...Sept onward Velesto will shine again...but sometimes it can turn virtual.
Happy trading. Patience is key for all success.

Posted by char1234 > 2020-05-13 23:20 | Report Abuse

too early to venture into oil

Posted by stevie2k > 2020-05-13 23:22 | Report Abuse

@Macgyver11 thanks bro for ur opinion,appreciate that

Posted by stevenckheng > 2020-05-14 01:56 | Report Abuse

i dumping sapura top up velesto

Posted by Citadel12 > 2020-05-14 02:17 |

Post removed.Why?

Posted by linheng > 2020-05-14 07:05 | Report Abuse

Macgyver 11. Very good analysis. Will just buy in stages ie if down 10%, top up again.

Posted by FCM100 > 2020-05-14 10:52 | Report Abuse

@ Macgyver 11 Isn't Oil & Gas section essential during MCO?
https://www.theedgemarkets.com/article/petronas-services-continue-during-movement-control-order-period

Posted by JoshuaMS7 > 2020-05-14 12:21 | Report Abuse

what's wrong with this counter?? keep dropping getting serious!!

Posted by Macgyver11 > 2020-05-14 12:57 | Report Abuse

FCM100..true but Petronas talking on behalf of them especially for refinery Plant (Maybe Pengerang oil process). Different companies got different procedures including rigs operation. Petronas got so many downstream under them. Even if Velesto willing to operate but I dont think in 100% scale. Anyway, now we got some clear picture after make comparison to all data. Let say if Velesto gearing up maximum output during this MCO period then it is good enough to support its financial report except for the downfall of oil price (after 18 March onward). I really appreciate your info, this is the way supposed to be...share good thing in correct time, not blindly shoot. We all in same ship to support and help each other. Happy trading.

Posted by lancefire > 2020-05-14 13:13 | Report Abuse

Patience is a key for this counter. Need to be firm with your stand and not easily swayed in times like this.

@joshuams7 I thought you were happily asking everyone to run for weeks. So it shouldn't bother you that it's dropping right.
@citadel12 lol good point

Posted by JoshuaMS7 > 2020-05-14 14:40 | Report Abuse

something wrong in this counter! keep dropping everyday and unlimited selling volumes!! better keep cash safer! sure got problem! either going to pn17 or market crash if not mistaken!!

Posted by stevenckheng > 2020-05-14 15:07 | Report Abuse

buy lo , then come back after 3 years, the value doubled

Posted by JoshuaMS7 > 2020-05-14 15:36 | Report Abuse

haha if us market really crash or this counter going to bankruptcy then should like epf cry no tear!!

Posted by nicholas99 > 2020-05-14 15:46 | Report Abuse

https://simplywall.st/news/an-intrinsic-calculation-for-velesto-energy-berhad-klsevelesto-suggests-its-27-undervalued/

Posted by Remo > 2020-05-14 16:14 | Report Abuse

@joshuams7 Always come here when price drop, give all nonsense perception. When price up, will go MIA.

Posted by G C > 2020-05-14 16:26 | Report Abuse

Be patience.......i waiting 0.125... plz throw to me.

Posted by nicholas99 > 2020-05-14 16:29 | Report Abuse

straight away ask joshua sell to you. ask him get it done and over with. always cry foul. like a baby.

Posted by EdenOfSaudi > 2020-05-14 16:29 | Report Abuse

0.13 is a good deal to me. I am collecting batch by batch. Very undervalue

Posted by nicholas99 > 2020-05-14 16:54 | Report Abuse

If the oil back to usd 50 from July-Sept.Then back and stabilize around usd 53-55 from Oct till Dec. It should have a quick jump from usd 30 to usd 50. Cutting too much will resulted in shortage building up. If they are not cutting production then its hard to predict. But they are continue cutting the production. Result should come quickly than earlier prediction.

Posted by Allantanks > 2020-05-14 17:35 | Report Abuse

Velesto will up. Have deep faith. Collecting and averaging from. 17 to. 14.

Posted by ashmira > 2020-05-14 19:51 | Report Abuse

Nooooooo i miss 0.13. Want to average it from 0.14. Then become 0.135. So sad. i thought tomorrow can buy 1. Oil drop more tonight please.

Posted by Elmerbaby > 2020-05-14 21:38 | Report Abuse

veles price is so undervalue rn. whats happening here? aside c19 and oil crash

Posted by Elsonng90 > 2020-05-14 23:08 | Report Abuse

Velesto can’t no up ,because many share

Posted by Allantanks > 2020-05-15 02:37 | Report Abuse

Earlier this week, Iraq, OPEC’s second-biggest producer and the least compliant member in all previous rounds of cuts, was said to have told some of its Asian oil buyers that it would not send the full contractual volumes requested for June. This could be a sign that even OPEC’s least compliant member is trying to play its part this time, as oil prices are so low that they are devastating Iraq’s primary budget income, oil revenues.

Posted by tkl88 > 2020-05-15 02:51 | Report Abuse

Wow, Fantastic !
Oil price was superb damn hot man !

As at 2.47 am,
Nymex at => $27.46 (+2.17) (+8.58 %)
Brent at => $31.10 (+1.91) (+6.54 %)

Huat ah ! Heng ah ! Ong ah !

Posted by Allantanks > 2020-05-15 06:21 | Report Abuse

I think this will be a good news and a huge green signal for all oil and gas counters.

Home / Oil & Energy / Oil & Companies News / U.S. commodities watchdog issues blunt warning over oil volatility


The U.S. Commodity Futures Trading Commission (CFTC) has written to exchanges, brokers and clearers in unusually forthright terms to remind them of their obligation to ensure orderly trading and commodity pricing.

The CFTC’s letter, sent on Wednesday, was issued in the wake of unusually high volatility and negative prices in the light sweet crude oil futures contract (WTI) for delivery in May on the penultimate day of trading last month.

The detailed restatement of basic obligations, which should not need reminding, amounted to an extraordinary public warning to the Chicago Mercantile Exchange (CME), which operates the WTI futures contract.

The Commission’s decision to issue a public caution illustrates the depth of concern about what happened in the run-up to the expiry of the May futures contract, and determination it must not be allowed to happen again.

FAIR AND ORDERLY
In its letter, the Commission noted that the coronavirus pandemic has badly disrupted markets and increased volatility across many of the agricultural, energy and financial contracts that it is responsible for regulating.

But it singled out unprecedented volatility in contracts that call for physical delivery, like WTI, as a source of special concern (“CFTC Letter No. 20-17” May 13, 2020).

The Commission reminded futures exchanges they are legally responsible for preventing “manipulation, price distortion, and disruptions of the delivery or cash-settlement process”.

Futures exchanges must ensure markets remain competitive, orderly and fair by employing “market surveillance, compliance, and enforcement practices and procedures”.

CONTRACT EXPIRIES
The letter focused on the behaviour of market participants and prices in the run-up to contract expiry, another sign of official concern about what happened ahead of last month’s WTI expiry.

Futures exchanges were reminded of their obligation “to monitor the convergence between the contract price and the price of the underlying commodity” as expiry nears.

Even more pointedly, exchanges were warned they must “monitor the supply of the commodity and its adequacy to satisfy the delivery requirements”.

In a reference to problems with the deliverability of WTI, exchanges were instructed they must make “a good-faith effort to resolve conditions that threaten the adequacy of supplies or the delivery process”.

The extreme volatility in WTI futures last month has been blamed, in part, on the shortage of capacity to make or take physical delivery of crude oil at the contract’s delivery point at Cushing in Oklahoma.

Exchanges were also reminded they must establish and enforce position limits and accountability levels to prevent market manipulation or congestion around the delivery point.

In effect, the Commission told exchanges that their contracts must be fit for purpose, with an effective mechanism and sufficient capacity to make or take delivery, and not simply free from overt manipulation.

EXCHANGE POWERS
The letter notes that exchanges must enforce rules designed “to protect the market and market participants from abusive practices including fraudulent, noncompetitive or unfair actions, committed by any party”.

Sometimes futures markets are characterised as laissez-faire, but in fact trading is heavily regulated, and the Commission has reminded exchanges they are responsible for preventing a broad range of unacceptable practices.

In a signal that it expects exchanges to get tougher, the Commission reminded them they have the power to intervene in an emergency – without needing to state that it expects those powers to be used if necessary. The letter notes exchanges have the power, among other things, to liquidate or transfer any open positions; suspend or curtail trading; and impose special margin requirements to ensure markets remain orderly and fair.

CLIENT POSITIONS
The letter also contains several reminders to futures commission merchants (FCMs) of their responsibility to manage risks associated with their clients’ positions in futures contracts.

FCMs are reminded of their obligations to maintain effective risk-management systems to protect customer funds, including on an intra-day basis, especially “in light of recent events”.

Crucially, brokers must monitor positions as a contract gets closer to the expiration date to ensure customers can meet their financial obligations and make or take delivery on the futures contract.

It is an unsubtle reminder brokers should not allow customers to run positions close to expiry unless they are satisfied the customer has the logistical ability to make or take physical delivery.

Since last month’s upsurge in volatility, some futures commission merchants have already prohibited smaller customers from opening new positions.

Posted by Gemstar > 2020-05-15 06:55 | Report Abuse

My entry price 0.135 miss 0.130 waitin to top up at 0.125 :) buyer suddenly eat sapu habis like fast and furious

Posted by atomic5 > 2020-05-15 07:05 | Report Abuse

No more .13 range start today

Posted by atomic5 > 2020-05-15 07:05 | Report Abuse

Manage top at .135

Posted by nicholas99 > 2020-05-15 08:38 | Report Abuse

Rystad Energy estimated that E&P companies will see revenues plunge by around $1 trillion in 2020, falling to $1.47 trillion from $2.47 trillion last year. They were also of the view that 2020 will see the lowest project sanctioning activity since the 1950s in terms of total sanctioned investments, which stands at $110 billion – only 33 percent of the investments in 2019. Many companies have already abandoned or deferred their major projects.

So what does this all mean? It simply means that fewer resources will be made available for future investments in exploration and production - hindering the ability of companies to invest in future projects. A decrease in exploration and production investment will lead to a supply squeeze in the future once demand comes back online.

The coming recovery will require enormous financial and energy resources to rectify the damages caused by COVID-19. During this recovery process, global oil demand will slowly move towards normalcy and may even surpass global supply. Even if the oil industry were to increase investment, there is always a lag involved in bringing production online. It takes a number of years to discover, acquire, and develop a project. Even shale oil wells may struggle to come back online as it is difficult to return a well that has been shut-in to its previous production levels. Then there are the disruptions at manufacturing sites (where plants & equipment for future delivery are under construction) to consider. These delays may impact a project’s completion date. The list of variables that could impact the supply side of the oil market in the near future is a very long one.

The world has witnessed various cycles in the past, but there has never been anything as complete and intensive as this. The time-scale of the oil price recovery will depend upon how quickly the global economy is revived and how fast the surplus oil is consumed by increasing demand. The ability of OPEC to comply with its production cut deal will also play a role in the oil market recovery.

While the timescale remains unclear, a new oil price cycle is in the making, and the serious lack of investment in exploration and production as well as other supply-side issues could send oil prices significantly higher.

Posted by nicholas99 > 2020-05-15 08:40 | Report Abuse

long story short. oil price is going up soon when production couldn't catch up demand.

Posted by nicholas99 > 2020-05-15 08:49 | Report Abuse

https://www.forbes.com/sites/tamarathiessen/2020/05/14/summer-travel-europe-many-countries-plan-to-be-open/#570b8964369e