analyst 17 Jun 19

Halliburton trades at 9-year low price, amid 10-year low valuations (17 Jun 19)

Dear all This week, Halliburton (“HAL”) caught my attention as it closed at US$21.38 on 14 Jun 2019, lowest since 1 Jun 2010 and 7 Aug 2009, amid 10-year low valuations. Given the basis below, my personal view is that HAL may be presenting a favourable risk reward setup for a long trade.   Potential basis to long a)  At US$21.38, this is the lowest close since 1 Jun 2010. At 12.5x current PE and 1.9x P/BV (see Figure 1 below), these valuations seem attractive as compared to its 10Y average PE and P/BV 29.3x and 3.2x respectively; Figure 1: […]

Chart 3_S&P500 oversold

S&P500 has slumped 13.7% in Dec, largest percentage fall since 1931! Has the bull market ended? (23 Dec 18)

Dear all After hitting an intra-day high of 2,941 on 21 Sep 2018, S&P500 has tumbled 17.9% or 525 points to close 2,416 on 21 Dec 2018. In fact, S&P500 has just logged the worst monthly performance in Dec since 1931! Dow has also fallen 3,535 points from the intraday high of 25,980 on 3 Dec 2018 and 4,507 points from the intraday high of 26,952 on 3 Oct 2018. What is happening? Is Armageddon coming?   Most things have not changed since 21 Sep, except for… In Sep, when S&P500 hit 2,940, the usual concerns were also there, namely […]