wait until the truth comes out, no contract extension , and no new contract. Probably you can buy cheaper that time. Remember no upstream capex revision for petronas yet......
@Zakhirudin Ehwan If your average price is at 4.18, and especially if you're not too desperate to use the cash, maybe it's better to just let things be and hold on. True, there's always the possibility it might go even lower (as if this isn't already ridiculously low enough!). But then this kind of possibility is also present with any other counter. My thinking is, if you had held on all this while despite the painful slide, why only now? Why not earlier when the realised loss would have been less?
I agree with @onetonneman's main point above. Looks like you are the investor kind, not speculator or trader (like me, most of the time). You had bought due to being convinced by its business and potentials. Unfortunately, the crude oil landscape had changed. But I believe it's cyclical. We have seen this before. The only issue is when things will at least stabilise somewhat.
A lot will depend on how the top management handles things. It's their problem and responsibility. When the share price starts to improve, it's a good idea to average down the 4.18. But only when you are reasonably confident it's on an uptrend. You can ask a few people here to help with this when things are better. In the meantime, no need to follow the price too closely. Certainly not via the trading screen of second-by-second blows. Just live life, and let events happen over time.
By the way, one method to average down while not having to put up too much cash is via the structured warrants. Just be aware of the risks and things like expiry date, premium etc. But this will only work when UMWOG is moving upwards, and there's momentum. Get it wrong and the loss in percentage terms may be significant. But of the stars align, you'll bless these warrants' magical powers :-)
No doubt this counter worthwhile to invest for long term but the question at what price is good price to start accumulating.o&g sector will never die. It seem to me it will break rm 1 tomorrow.
netonneman, you are not comparing apple to apple here, Schlumberger,Keppel, Coastal, Oceaneering, Baker Hughes are not drilling contractor. These are services, fabricator totally different animal with a drilling rig contractor. Compare with transocean, seadrill....etc, remember Hercules offshore is filling for bankruptcy, and hercules has been around for a while and a decent contractor in the drilling rig business, UMW drilling instead is just a small player depending on Petronas....
keppel has the last laugh because they fabricate a lot of the drilling rig and receive a lot of order before the slump of crude oil but the receiver will not be able to secure a contract.
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....
blackul66
1,334 posts
Posted by blackul66 > 2015-08-11 08:44 | Report Abuse
yeah, no way it will go down in a straight line right.....