For those who are too late to cut loss, just wait lor. If I cut loss now, I loss a Honda Accord. Oil & gas is clyclical, especially very high capex involved. Now my short term investment are force to be long term. Hope one day oil price will raise and I will cabut. Next time don't invest on those cyclical counter again. I think consumer products are safer, especially good food counter (anybidy know any food counter do export to USA?) because you consume everyday.
nice1 news in focus, PETRONAS shutdown 14 rigs, from 18 oil rigs to 4 active rigs: It is called warm-stacking which means temporarily shutting down operations - but maintaining minimal activity - as a cost-saving measure.
Petronas already announced they want to reduce capex for E&P since a long time ago, why got people suprised when the news came out about the number of rigs suspended. Aiyoh..., maybe got people don't understand the meaning of reducing E&P capex
WTI falls further to below 50 usd/bbl , Brent almost touching 55 usd/bbl. Too bad Petronas can't help them much this time by giving them more contract. Unless UMWOG shows their capability to match those of maersk, seadrill, transocean and the likes, it is very hard to get contract beyond this region.
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....
matrix6050
1,265 posts
Posted by matrix6050 > 2015-06-19 15:02 | Report Abuse
i join in to support a bit