Alam and Icon playing the same game. If u can't hold, they will wait for u to sell......then u are a loser. If u can hold for long term, u will be a winner.
stocksyndicate - I think you could be right. I was looking to buy into this share but the report of last year loss of 40 million ringgit without any dividend does not represent good news. The current rise in Petrol price - now swaying between 35-40 US$ per barrel may help a little. But if Petrol price continues to decline it would be bad for Alam and many other oil based companies.
SHQuah I think collecting a lot now may not be a good call looking at the losses this company has incurred at the beginning of the year and lately. Yes the Opec meeting will not do very much in the short term cos there is still too much supply in the market at the moment. Read the Wall Street Journal Petroleum Report ... Maybe long term Petrol price may hike back up to US$50 a barrel? who knows...
The market now is so volatile and unpredictable with Petrol prices so unstable that investing now may not be a good call for anyone but everyone have their own opinion and so feel free to buy now but I prefer to wait... and see what happens next after OPEC meeting.
Iraqi government previously agreed to freeze production but instead they are one who break the agreement by increasing production. You tthink Iran will to agree to production freeze? This agreement will not help stabilize prices without any real cut in production
When a share hit rock bottom & the company still with good NTA and a lot of cash in hand. Then we should buy and keep for long term. Petronas still need company like ALAM and ICON to support them even oil price is low.
U.S. oil closed at 2016 highs on Tuesday after a report that top producers Russia and Saudi Arabia have agreed to freeze output ahead of a much-anticipated producers meeting on Sunday. The output freeze news came as the U.S. government said that U.S. crude output was forecast to fall by 560,000 barrels per day
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....
SHQuah
5,363 posts
Posted by SHQuah > 2016-03-30 15:34 | Report Abuse
got people collecting at this price.