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STI to cross 3000 boosted by long-term investors
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nyde1d1th
Veteran |
11-Feb-2016 09:35
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wah lao break 5 cents liao |
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alan5793
Veteran |
11-Feb-2016 09:30
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WORST YET TO COME . Bass Says China Bank Losses May Top 400% of Subprime Crisis February 11, 2016 &mdash 12:15 AM HKT Updated on February 11, 2016 &mdash 7:21 AM HKT
Kyle Bass, the hedge fund manager who successfully bet against mortgages during the subprime crisis, said China&rsquo s banking system may see losses of more than four times those suffered by U.S. banks during the last crisis. Should the Chinese banking system lose 10 percent of its assets because of nonperforming loans, the nation&rsquo s banks will see about $3.5 trillion in equity vanish, Bass, the founder of Dallas-based Hayman Capital Management, wrote in a letter to investors obtained by Bloomberg. The world&rsquo s second-biggest economy may end up having to print more than $10 trillion of yuan to recapitalize banks, pressuring the currency to devalue in excess of 30 percent against the dollar, according to Bass.
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pnuklis
Master |
11-Feb-2016 01:24
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Now oil is at 27 and will hit 25 and then 20 when you can buy Ezra for 2 cents. |
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Lucky03
Elite |
11-Feb-2016 00:40
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WTI oil climbs after EIA reports an unexpected fall in crude supplies
By Myra P. Saefong Published: Feb 10, 2016 10:40 a.m. ET Oil futures turned higher Wednesday after the U.S. Energy Information Administration reported a surprise decline in weekly supplies of crude oil. Crude inventories fell by 800,000 barrels for the week ended Feb. 5. The American Petroleum Institute on Tuesday reported a 2.4 million-barrel increase, according to sources. Analysts polled by Platts expected a rise of 3.2 million. Gasoline and distillate supplies each climbed by 1.3 million barrels, the EIA said. March crude CLH6, +0.11% was at $28.58 a barrel on the New York Mercantile Exchange, up 64 cents, or 2.3%. Prices traded at $28.09 before the data. |
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Lucky03
Elite |
10-Feb-2016 19:05
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Oil rises towards $31 as Russia floats idea of supply cut
Reuters 15 mins ago By Alex Lawler LONDON (Reuters) - Oil rose towards $31 a barrel on Wednesday after four days of declines, supported by the prospect of OPEC and rival producers cooperating to tackle a supply glut that has sent prices to a 12-year low. Iran's oil minister said Tehran was ready to negotiate with Saudi Arabia and the Kremlin's oil tsar Igor Sechin proposed producing countries reduce output by 1 million barrels per day - without saying whether non-OPEC member Russia would cut. While traders and delegates from the Organization of the Petroleum Exporting Countries are sceptical any deal between the group and rival producers - which would be the first in over a decade - will happen, the prospect is supportive for the market. "If prices drop further, the chance for joint action increases and this in turn should prevent a further sharp drop in prices," said Carsten Fritsch of Commerzbank. "Today's gain is just a bounceback after yesterday's sharp sell-off." Brent crude was up 55 cents at $30.87 a barrel by 1017 GMT. The contract fell for a fourth straight session on Tuesday to end down 7.8 percent. U.S. crude was 55 cents higher at $28.49. Oil collapsed from above $100 in June 2014 to a 12-year low of $27.10 last month, pressured by oversupply and a 2014 change of policy by OPEC to focus on market share, not support prices. The drop has squeezed producers' oil income and is having a wider impact. Turmoil in financial markets, in which shares of the world's biggest banks fell steeply this week, is partially caused by the low oil price, the head of BP said on Wednesday. "Of course the turmoil is a big concern," BP Chief Executive Bob Dudley told Reuters. "I've been travelling recently to major consuming countries like Japan and even they say they would like higher oil prices." Oil also gained support from a report showing a smaller buildup in U.S. crude inventories than forecast. The American Petroleum Institute (API), an industry group, said crude stocks rose by 2.4 million barrels in the week to Feb. 5, less than the 3.6-million-barrel rise expected by analysts. (API/S) Investors will on Wednesday turn to the weekly supply report from the U.S. government's Energy Information Administration at 1530 GMT for confirmation of the move, while OPEC's latest demand and supply outlook is due later on Wednesday. |
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Lucky03
Elite |
10-Feb-2016 19:01
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Amazing that there are still 5,153,400 shares being shorted today at Ave price of $0.0504. Somehow, someone decided to grab more than 4m at $0.051 at 16:59:12. Short covering or someone decided to accumulate last minutes ? | ||||
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lglg666
Supreme |
10-Feb-2016 18:24
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Supposed to be positive news regarding the deal between Iran and Saudi....,so just wait and see Lor, craps!! | ||||
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Lucky03
Elite |
10-Feb-2016 14:31
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Oil prices rebound from sharp selloff more volatility expected
Reuters 37 mins ago By Jacob Gronholt-Pedersen SINGAPORE (Reuters) - Crude oil prices pushed higher on Wednesday after Iran said it was open to cooperation with Saudi Arabia, partly recovering from an 8 percent fall in the previous session on concerns over demand and weak equities. Liquidity in Asia remained low as China is closed all week due to the Lunar New Year holiday, while South Korea was also off on Wednesday and Japan will take a public holiday on Thursday. Prices were supported by comments from Iran's oil minister that Tehran is ready to negotiate with Saudi Arabia over the current conditions in global oil markets. The International Energy Agency (IEA), meanwhile, said the Organization of Petroleum Exporting Countries (OPEC) is unlikely to cut a deal with other producers to reduce ballooning output. It predicted the world will store unwanted oil for most of 2016 as declines in U.S. oil output take time. "Another day of heightened volatility is expected as concerns over global growth prospects remain elevated," analysts at ANZ said in a note. The front-month Brent contract was 70 cents, or 2.3 percent, higher at $31.02 a barrel by 0437 GMT. The contract fell for a fourth straight session on Tuesday to end down $2.56, or 7.8 percent. U.S. crude for March delivery was 59 cents higher at $28.53 a barrel. The contract fell 5.9 percent on Tuesday to settle $1.75 lower. Seeking protection against wild swings in prices, oil traders have scrambled to scoop up options, sending a key volatility index to its highest level since the worst of the global economic crisis in 2008, data showed. Oil investors will turn to weekly inventory data by U.S. Energy Information Administration (EIA) later on Wednesday, with analysts surveyed by Reuters predicting a 3.6 million-barrel rise in crude stocks last week. The American Petroleum Institute (API), an industry group, reported a build of 2.4 million barrels in U.S. crude stockpiles for last week. "Oil remains susceptible to further weakness as the market digests (Tuesday's) data," ANZ said. Weighing on the general outlook for oil prices is a global demand growth slowdown. The U.S. Energy Information Administration (EIA) this week cut its 2016 world oil demand growth forecast by 180,000 bpd, with demand to hit 95.02 million bpd, up 1.24 million bpd from 2015. Top oil merchant Vitol also said this week that it expected a slowdown in global oil demand growth from 1.6 million bpd last year to 800,000 to 1 million bpd in 2016. (Additional reporting By Henning Gloystein Editing by Richard Pullin) |
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moron101
Supreme |
10-Feb-2016 11:08
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Oil recovered strongly in Asia markets. ... CNY rallies will continue this afternoon. . | ||||
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Lucky03
Elite |
10-Feb-2016 01:15
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O&G sector problem is no longer isolated to the industry alone. It is contagious and is affecting financial industry and others now. This will eventually force the market to address the fundamental issue of crude market - over supply and need to urgently rebalance rather than to wait out for the rest of the year. | ||||
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alan5793
Veteran |
09-Feb-2016 21:42
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Business | Tue Feb 9, 2016 8:08am EST Related: Deals Warren Resources may file for bankruptcy if debt talks fail Oil and gas producer Warren Resources Inc (WRES.O) warned it would have to seek bankruptcy protection if talks to reach a debt restructuring agreement fails. Warren, which on Tuesday also cut its 2016 revenue and production forecasts, had deferred a $7.5 million semi-annual interest payment that was due on Feb. 1 to reach a deal with its creditors. The company has a 30-day grace period for negotiations with noteholders, since deferring interest payment on Feb. 1. Several oil producers, whose cash flows have been squeezed by a 70 percent fall in oil prices since June 2014, are in talks with creditors to defer payments and improve liquidity. " These are very difficult times for Warren and its industry peers," Chief Executive James Watt said in a statement, adding that the company needed further concessions from debt holders and vendors to survive a prolonged downturn in oil prices.
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Lucky03
Elite |
09-Feb-2016 17:57
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The $20 Billion Manager Who Won After the Crisis Is Buying Again
By Tom Redmond - 9 Feb 2016, 4:04:54 PM David Samra, awarded for his stock-picking during and after the 2008 financial crisis, says he?s buying again. Samra, who oversees about $20 billion for Artisan Partners, says now?s the time for a steady hand and no emotion as concern intensifies about the slowdown in China and the sliding price of oil. The winner of Morningstar Inc. international stock manager rankings in 2008 and 2013 says he?s sticking to his investment approach: finding undervalued shares with strong balance sheets. ?We welcome these types of markets,? Samra said in a phone interview from San Francisco on Monday. ?We weren?t happy to see the potential social and economic disruption that happened during the financial crisis. It causes a lot of human misery. You?re not existentially happy about what?s going on. On the other hand, that turned out to be a market opportunity.? Global equities erased $7.7 trillion in value this year through Monday as routs in commodities and Shanghai shares spread, taking global banks as the latest victim. Worldwide stocks neared a bear market on Tuesday as the yen surged and corporate bond risk jumped. The $10.7 billion Artisan International Value Fund, the largest Samra oversees, lost 8.3 percent in 2016 and is still beating about three-quarters of its peers. Markets had become ?very greedy? over the past few years, according to Samra, which he says was time to take advantage and sell shares. In today?s conditions, it?s time to ?aggressively buy,? he said. His main fund had 12.7 percent of its holdings in cash as of Jan. 31. UBS Bet In UBS Group AG, which has plummeted 26 percent this year, Samra sees his preferred combination of cheapness and a safety buffer. The Swiss bank, the third-largest holding in Samra?s biggest fund, has strong capital levels, a less complex balance sheet and a wealth-management business that?s worth more than the lender?s market value, says Samra, while declining to specify which stocks he?s been buying amid the selloff. Chairman Axel Weber is taking the right approach by prioritizing wealth management over investment banking, he said. Earlier this month, Credit Suisse Group AG reported its biggest quarterly loss in seven years as it wrote off goodwill and set aside provisions for litigation, sending shares to a 25-year low. A slump in earnings at UBS?s wealth-management and investment-banking divisions also sparked its biggest stock drop in more than a year. USB is ?way ahead of their competitors, well ahead of Credit Suisse,? Samra said. Short-term headwinds such as declines in assets under management and tougher regulations ?don?t undermine the franchise in the long term.? Chinese Economy One area where Samra?s not rushing to invest is China. He says the economy may have already stopped growing and valuations are ?not even close? to enticing. As for oil, the other obsession of global markets this year, Samra says it?s probably time to get bullish. Growth in production has stopped and the lower prices will make substitute energy sources less attractive, he said. West Texas Intermediate traded near $30 a barrel on Tuesday, and has fallen more than 50 percent since June. Samra?s main fund, which he manages with Daniel O?Keefe, beat 92 percent of peers over the past five years and 74 percent in 2016, data compiled by Bloomberg show. Samra and O?Keefe ranked in the top percentile with a 31 percent gain when they won Morningstar?s U.S. manager of the year for international stocks in 2013, according to the fund-ranking firm. They took top honors in the same segment in 2008 when the Artisan International Value Fund lost 30 percent. Creating Bubbles Samra says he?s doubtful about central bank monetary policies after the financial crisis. Japan, already buying unprecedented amounts of bonds to stimulate its economy, said last month it would move to negative interest rates. European Central Bank President Mario Draghi says more easing could come as soon as March. ?The world is not right,? Samra said. ?You always run this balance between creating social unrest and creating bubbles, and we?ve erred on the side of creating bubbles," he said. ?We?ve had distortion after distortion after distortion. And we keep applying more aggressively the same remedies and causing more distortions.? Still, the former Harris Associates fund manager says his stocks are trading at high discounts to what he sees as their value, and the turmoil means it?s time to make money. ?You need a personality that can take the emotion and noise out of the equation,? he said. ?We?ve got the contrarian streak? of buying things others want to offload, he said. ?And we?ve got the conservative nature that we want to make sure that if we don?t get the analysis correct, we don?t get slaughtered.? |
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alan5793
Veteran |
09-Feb-2016 14:56
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OMG ! OMG ! OMG! OMG ! OMG ! OMG! WHAT HAPPENED ?? What will Happen to STI open tomorrow ? CNN News Today : Stock market' s terrible start to 2016 just got worse Fear continues to reign on Wall Street. The stock market' s terrible start to 2016 got even worse on Monday, with the Dow shedding 178 points and the S& P 500 losing 1.4%. Japan: Stocks tumble more than 5.5%. -918.86 in opening deals [TOKYO] Shares tumbled more than four per cent Tuesday, joining a global sell-off as a stronger yen dented exporters and after oil prices tanked again on fears of a worldwide economic slowdown. BUSINESS TIMES Today: More red ink than red packets At least 31 profit warnings posted by S' pore-listed companies since the start of the year It is a reflection of the damage wrought by a prolonged slump in crude oil prices that about a third of these were from offshore & marine (O& M) firms or companies that sell to them, according to bourse filings compiled by The Business Times. These include Ezra Holdings, SBI Offshore, Technics Oil & Gas, Gaylin Holdings and Beng Kuang Marine, with several blaming sluggish energy market conditions due to the prolonged crude oil slump. These O& M firms are not likely to be the last to warn of poor earnings, analysts say, adding that more O& M firms could take write-downs in the coming months following substantial capital expenditure cuts by upstream players. " The major upstream oil companies have been cutting capex for the second consecutive year, so it' s natural that all those along the value chain will see their revenue streams cut by at least 50 per cent," said KGI Fraser analyst Joel Ng. BLOOMBERG BUSINESS Today : Global Bond Rally near `Panic' Level With Japan Yield Below Zero Sovereign bonds surged, sending the Japanese benchmark 10-year yield below zero for the first time, as investors seeking the safest assets gorged on government debt. Treasury yields dropped to a one-year low in the rush to refuge from a worldwide stock rout. Traders pared the odds the Federal Reserve will raise interest rates this year to 30 percent, before Chair Janet Yellen begins her two-day testimony to Congress on Wednesday. The yield on the Bank of America Merrill Lynch World Sovereign Bond Index tumbled to 1.29 percent, the least in data that go back to 2005. BLOOMBERG BUSINESS Today : Brace Yourself, Global Stocks Are Close to a Bear Market: Chart After claiming the European equity benchmark and Japan&rsquo s Nikkei 225 Stock Average, bears are knocking on the door of the global share gauge. MSCI&rsquo s All-Country World Index has lost more than 18 percent from an all-time high reached in May as anxiety over the world economy haunts financial markets. Investors have the Lunar New Year holidays to thank for the measure&rsquo s relative resilience in Asian trading on Tuesday, with the gauge falling 0.4 percent as a majority of markets in the region were closed for the break. BLOOMBERG BUSINESS Today : Oil Bankruptcies Seen Spurring M& A on Signal Prices Near Low About 150 oil and gas companies tracked by energy consultant IHS Inc. may go bust as a supply glut pressures prices and punishes revenues. Nobody is buying because there is a mismatch between expectations,&rdquo Fryklund said in an interview in Tokyo. &ldquo We need to close that gap. And the way that that will happen is the rest of those bankruptcies will go forward.&rdquo
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Lucky03
Elite |
07-Feb-2016 23:53
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Saudi, Venezuela Oil Ministers Hold ?Successful? Talks on Market
Wael Mahdi February 7, 2016 ? 10:54 PM HK Naimi, Del Pino Discuss Producers? Effort to Stabilize Market Naimi Hears of Counterpart's Talks With Other Crude Suppliers Saudi Arabian Oil Minister Ali al-Naimi said he held ?successful? talks with his Venezuelan counterpart about ways of cooperating to stabilize the crude market, without saying what steps producers should take to shore up prices. The two ministers, who met on Sunday in Riyadh, discussed Venezuelan Oil Minister Eulogio Del Pino?s recent discussions with other crude producers and the results of those meetings that seek cooperation among suppliers to bring stability to the market, the Saudi ministry said in an e-mailed statement. Venezuela and Saudi Arabia, the biggest exporter, are both members of OPEC, which supplies about 40 percent of the world?s oil. ?I?m very happy to meet and consult with my colleague Venezuelan Oil Minister Eulogio Del Pino,? Naimi said in the statement. ?It was a successful meeting in a positive atmosphere,? he said, without elaborating. Del Pino met with al-Naimi after visiting Russia, Iran, Qatar, and Oman on a tour to drum up support for Venezuela?s attempt to buttress oil prices. Saudi Arabia is the largest producer in the Organization of Petroleum Exporting Countries and led the group?s strategy in 2014 to defend market share against rival high-cost producers, including U.S. shale drillers, instead of defending oil prices. Benchmark Brent crude fell 35 percent in 2015 and a further 8.6 percent this year. The contract finished 40 cents lower on Friday at $34.06 as barrel in London. |
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alan5793
Veteran |
07-Feb-2016 16:22
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O & G co. All in deep trouble soon..Oil Plunge Sparks Bankruptcy ConcernsCrude&rsquo s plunge to near $30 a barrel fans worries that it could sink a third of U.S. oil producersBy BRADLEY OLSON and ERIN AILWORTH
Crude-oil prices plunged more than 5% on Monday to trade near $30 a barrel, making the specter of bankruptcy ever more likely for a significant chunk of the U.S. oil industry. Three major investment banks&mdash Morgan Stanley, Goldman Sachs Group Inc. and Citigroup Inc.&mdash now expect the price of oil to crash through the $30 threshold and into $20 territory in short order as a result of China&rsquo s slowdown, the U.S. dollar&rsquo s appreciation and the fact that drillers from Houston to Riyadh won&rsquo t quit pumping despite the oil glut. As many as a third of American oil-and-gas producers could tip toward bankruptcy and restructuring by mid-2017, according to Wolfe Research. Survival, for some, would be possible if oil rebounded to at least $50, according to analysts. The benchmark price of U.S. crude settled at $31.41 a barrel, setting a 12-year low. More than 30 small companies that collectively owe in excess of $13 billion have already filed for bankruptcy protection so far during this downturn, according to law firm Haynes & Boone. Morgan Stanley issued a report this week describing an environment &ldquo worse than 1986&rdquo for energy prices and producers, referring to the last big oil bust that lasted for years. The current downturn is now deeper and longer than each of the five oil price crashes since 1970, said Martijn Rats, an analyst at the bank.
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Lucky03
Elite |
07-Feb-2016 11:14
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U.S. Rig Count In Free Fall: Plunges By 48 In One Week
By Charles Kennedy Posted on Fri, 05 February 2016 19:37 | 1 The U.S. rig count plunged this week, as the deleterious effects of the deeper fall in oil prices since December start to be felt. According to Baker Hughes, the U.S. rig count declined by a shocking 48 rigs for the week ending on February 5, the largest reduction since March of 2015. The total rig count now stands at 571, made up of 467 oil rigs and 104 natural gas rigs. The Permian Basin still accounts for the bulk of the active drilling rigs, with 180 as of this week. West Texas remains profitable to drill, at least in some of the best areas. Still, the Permian had well over 500 rigs a little over a year ago. The Williston Basin in North Dakota, home of the Bakken formation, now only has 42 rigs, down from nearly 200 in late 2014. Plummeting rig counts have yet to translate into significant cutbacks in oil production, although the sharp increase in output exhibited between 2011 and 2014 came to a screeching halt last year. The current market turmoil has created a once in a generation opportunity for savvy energy investors. Whilst the mainstream media prints scare stories of oil prices falling through the floor smart investors are setting up their next winning oil plays. However, with rig counts plumbing new lows, production drop offs could be just around the corner. By Charles Kennedy of Oilprice.com |
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WhyWhy
Member |
06-Feb-2016 17:20
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It's a no brainer isn't it - would he run around spreading fear if he were long..
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Lucky03
Elite |
06-Feb-2016 15:18
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Guess you are still holding large short positions ???
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alan5793
Veteran |
06-Feb-2016 15:14
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Too on late to run .&ldquo 花 旗 时 钟 &rdquo ： 欧 美 市 场 距 离 崩 溃 仅 一 步 之 遥花 旗 上 月 最 新 报 告 显 示 ， 无 论 美 国 还 是 欧 元 区 ， 都 已 经 进 入 到 &ldquo 花 旗 时 钟 &rdquo 的 第 四 阶 段 。 这 一 阶 段 被 视 为 &ldquo 崩 溃 时 钟 &mdash &mdash 信 贷 和 股 市 都 呈 现 衰 退 型 下 降 趋 势 。 按 照 花 旗 策 略 分 析 师 Robert Buckland的 说 法 ， &ldquo 花 旗 时 钟 &rdquo 可 以 分 为 四 个 阶 段 。 第 一 阶 段 是 衰 退 的 终 结 。 随 着 利 率 的 下 滑 ， 信 贷 开 始 复 苏 ， 但 是 股 市 依 然 承 压 。 第 二 阶 段 则 可 以 视 为 牛 市 阶 段 ， 信 贷 和 股 市 都 表 现 强 劲 。 第 三 阶 段 中 ， 虽 然 股 市 依 然 高 歌 猛 进 ， 但 是 信 贷 扩 张 却 在 收 窄 。 这 一 阶 段 很 容 易 见 到 泡 沫 的 出 现 。 在 第 四 阶 段 ， 由 于 信 贷 收 缩 ， 股 市 也 最 终 出 现 崩 盘 ， 最 终 导 致 衰 退 出 现 。 通 常 来 说 ， 企 业 盈 利 大 幅 下 滑 和 资 产 负 债 表 恶 化 是 该 阶 段 后 比 较 明 显 的 特 征 。
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Lucky03
Elite |
06-Feb-2016 09:38
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Find it amazing that there are still 3.5m shorts at the price of $0.052 on Friday. Crude price movement is completely crazy last week with wild swing.
Venezuela Oil Minister meeting Saudi this Sunday. Will Ezra be able to make any announcement of any new wins in Feb as they had shared in the analysts briefing that tenders' result will be known by Feb ? Hope that the Red Monkey in 2016 will bring some cheers to a very beaten down industry ! Six OPEC Members, Plus Russia, Now Open to Emergency Meeting By Charles Kennedy Posted on Thu, 04 February 2016 21:48 | 0 Oil prices have whipsawed back and forth over the past two weeks, largely due to the rise and fall of expectations that OPEC might call an emergency meeting. Comments from several Russian oil executives and government officials sent oil prices surging at the end of January. Then prices retraced their gains when officials from OPEC dismissed the stories as just rumors. Nothing had changed, OPEC officials argued, even though some people in Russia were hinting at a meeting. But the rumors persist. The latest fuel to the rumor fire is the fact that now six OPEC member states have said that they would be willing to attend an emergency meeting if one was called, the highest total yet. Venezuela has officially requested an emergency meeting, and the oil minister from the South American OPEC member said that six OPEC members plus two non-members are willing to discuss measures to stabilize oil prices. The list includes Iraq, Algeria, Nigeria, Ecuador, Iran, and of course Venezuela. Russia and Oman, two non-OPEC members, would also be willing to attend. ?The idea is to not just hold a meeting, but for all the countries to attend with the intention of reaching agreements,? Venezuela?s oil minister Eulogio Del Pino said in the statement. ?Current prices are below equilibrium, and that encourages the speculators and market instability.? $80 Oil By June ? Do NOT Be Fooled By The Mainstream Media The current market turmoil has created a once in a generation opportunity for savvy energy investors. Whilst the mainstream media prints scare stories of oil prices falling through the floor smart investors are setting up their next winning oil plays. The last statement is especially true ? oil markets are at their most volatile point in years. The price movements over the past few weeks have been large and extreme. But speculators are starting to take much more bullish positions on crude oil, closing out net-short positions and going long. That suggests that a more solid price rally could be just around the corner ? or, at least, speculators think that might be the case. A rally will depend on the fundamentals, however, which is why a potential emergency OPEC meeting looms so large over the oil markets. Much now depends on Saudi Arabia?s position, the most powerful member of OPEC. Saudi Arabia has suggested in the past that it would be open to coordinated production cuts if Russia came along. There are still a lot of hurdles that would need to be cleared for cooperation between all the parties involved, but Venezuela is doing its best to get everyone on board. By Charles Kennedy of Oilprice.com |
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