Category: STX OSV

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STX OSV @ $1.2425

Buy @ $1.24, $1.245

Close to 5pm, only 2 lots were done for my $1.24 Q. Considering that the minimum brokerage will drive my unit price to $1.2525 if not fully done, I decided to buy some at $1.245. Ended up all the $1.24 ones were also done. Fortunately, I was playing small-small.. 😀

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STX OSV @ $1.255

Sell @ $1.255

Decided to contra off, make some kopi-$$$. The Cyprus bailout has created an environment of uncertainty, no idea if it's going to be temporary (since Cyprus is just a tiny economy compared to the other Euro countries) or going to last longer (domino effect on other bigger troubled Euro countires?). I view STX OSV as a more risky stock as their biz is on a down cycle and am not sure if it'd bottomed, plus, Balance Sheet is not that great (Debts > Cash). In times like now, I'd rather buy for longer term only when they've confirmed their recovery, even if I have to pay a higher price. I'm still holding some more in my portfolio, but, for now, will treat it as a Trading counter. 😀

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STX OSV @ $1.24

Buy @ $1.24

Bet small small during 5pm matching to try to Jump-Q @ $1.235 but failed. During this period of uncertainty, the risk is high for this stock, so, will trade with the utmost care and caution. 😀

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STX OSV @ $1.27

Sell @ $1.27

Contra off my last recent ones. Left the earlier buys. Will decide tomorrow whether to keep them for the longer term. Q'd almost whole day before it got done closer to 5pm. Closed @ $1.275. 😀

Range $1.245 to $1.275, Vol = 6,428,000.

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STX OSV @ $1.275

Sell @ $1.275

Contra off 2 of my recent buys. Couldn't contra off all as my selling limit was hit (due to recent selling of Popular Hldgs shares). By the time the limit was raised, share price had retraced and I've also decided to hold it as I have become greedy for bigger profits. 😀

What's interesting today was the SGX Annc after lunch by Oz. They'd tendered their acceptance for 50Mil shares, leaving a balance of 13,316,000 shares (also sold 5.15Mil yesterday) or 1.13%.

The run-up in share price happened after the SGX Annc. Prior to that, it was hovering aro' $1.225 / $1.23.

Some thots,

  1. I'm hopeful that Oz may not sell off their balance 1.13% stake. In such a case, prices may not stay depressed going forward
  2. Although this Offer is unlikely to succeed, it looks like Fincantieri may get a lot more acceptance than I'd previously imagined. Still, I'm guessing they'll at most end up with <60%
  3. The non-stop selling by Oz had been well absorbed. I'm thinking that many are likely Traders who're in it for the short term. If so, any huge price rise will likely be quickly sold down.

Based on my thots', I'll most likely divest all my shares if the price hits >$1.30 or even close to it. As profitability was on the decline (down cycle) and Balance Sheet is not fantastic (Debt > Cash), I'd prefer to wait for a stronger confirmation of the return of their upcycle before committing for the longer term. Nevertheless, after my selling today, I ought to be able to sleep better tonight as I'd previously bought too many when it kept dropping… 😀

 

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STX OSV @ $1.2275

Buy @ $1.23, $1.225

Increased my bet. Dropped to a day low of $1.215 after I buy, below Offer Price of $1.22! Looking at the non-stop selling by Oz (substantial shareholder), very likely, they'll accept the Offer for their balance holding (5.8% as of yesterday). The show is getting more interesting as Offer closes tomorrow. As the selling by Oz is well absorbed, there're likely many traders + opportunists in the game now. As such, I'm short term biased now. Prepare to run fast, the day after tomorrow if opportunity arises. ðŸ˜€

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STX OSV @ $1.2525

Buy @ $1.255, $1.25

Take a bigger bet, last day of G.O. is on 13-Mar. Substantial shareholder (Oz) continues to sell bit-by-bit, day-by-day, likely suppressing the share price. The interesting thing is that this selling seems to be well absorbed by the mkt. Note that STX OSV latest Q4 results shows that it's on the down cycle, but there're some signs of a recovery. The bigger risk is that the cycle continues to go down …. 😀