Friday, August 12, 2011

CNOOC purchased

This afternoon my small limit order on CNOOC (HK:883) got hit. I paid HKD14.36 for the additional shares. With a trailing yield of 3.2%, a sound balance sheet and a number of brokers having price targets above HKD21.00 the sell down is (IMHO) over done - notwithstanding that the recent fall in the price of oil may not have been factored into valuations.


Andy said...

You seem to be buying more aggressively than I feel like doing. Do you believe we're near the bottom of the slump?

Anonymous said...

So if the brokers had sell ratings would you still have bought? How much influence does their opinion have with you?

traineeinvestor said...


These are very small additional purchases. At month end, I will still have about two years worth of living expenses in cash.

I've no idea where the bottom is, but I am feel comfortable buying at these levels....but don't listen to me. Most of what I've purchased this year is underwater.


I listen to brokers - not because I wish to rely on them (I've learnt the hard way over the years not to do so), but because (i) they may provide support for my own views or (ii) pick up things that I miss - they are looking at companies full time and in much more detail that I do/can. I don't expect them to be right (or myself for that matter), but additional opinions are useful.


Anonymous said...

would you mind explaining to me why you are holding cnooc and sinopec at the same time? i heard from those housewives that cnooc gains from higher crude prices whereas sinopec gains from lower crude prices.

sorry. i just finished school and i am very green in the investment field.
the market looks very volatile and i dont know when and where to place my first bid of my life time.