On 13 Oct 2007, oil price was reported (in Business Times) to hit a record of above US$84 a barrel due to tensions between Turkey and Kurdistan Workers Party. Coincidence or what I don’t know. But this is certainly not a good news, at least not for me. But the stock market doesn’t seems to bother and they are still “frying the pan”. Some of my friends called me for my advise on next course of action. I don’t really like this kind of question but I offer them my opinion - their profit only becomes “real” when they transformed it into hot cash in the wallet (or bank). There is lots of uncertainty now than early 2007.
This morning (16 Oct 2007), I received another report that oil price had reached US$86 a barrel. Although last night DJIA plunged more than 100 points and STI down by twenty over points when market started, people are still (selectively) “frying the pan”. To me, this is a good news as I had been throwing more shares to them so that they can continue to enjoy their game. Last night, I keyed in my sell orders through the internet. I wanted to sell Courage Marine at $0.45 a share based on its last closing price. Guess what happened? When market re-opened, punters came in to buy at $0.475 opening price!!! As a result, the exchange adjusted my selling price to $0.475.
Like I said (in my previous post), “in a bull market, you can’t sell cheaply”.
To-date, I had almost halved my portfolio realizing a highest gain record since I adopted Warren Buffet’s methodology on investment in around 2002. My realised gain this year is expected to hit above 20%, a lovely record to call for a celebration. I should give my close friends/colleagues a treat to share my joy.
Further Update On PSC
Today PSC’s share price continued to head southward and closed at $0.455. Everything is according to my prediction based on my past experience. I am not God, please, but I have experience. Again I repeat, share consolidation, generally, does not add value. And when it was done in the midst of uncertain market, chances are that the long-term investors may suffer a loss value. Come to think of it, experience does carry a value. I should sell it! heehee
Tips On IPO Application – An Update
In my previous article, I had shared my little tips on IPO application. Let’s see if it is true. Today, China Oil Field announced its IPO balloting result.
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As you can see, applying eleven lots allow you to jump to next higher balloting box. Your balloting ratio increased by one person (not a lot but at least something) and if you are successful, you will get 2 lots. This is better than those applying for nine lots or less. Of course at the end, it still depends on your luck. But let’s say you are always lucky, then you will prefer to get 2 lots instead of one, am I right? As you can see from the ratio, even if you are rich and are able to apply for four hundred lots, your probability is only 6% and you’ll only receive 3 lots if you are successful. If you are thinking about getting a private placement, it’s not going to be easy. Your broker may not entertain you because comparing to big institutions and syndicates, you are still a small fish (as a retail investor). But of course you can and should try.
So in this case, China Oil Field is a super hot IPO. When it start its first trading tomorrow, I guess the opening price will be above $1. By the way, in case you ask, my application was unsuccessful. ------ ("chey, after such long speech!")
