Friday, October 21, 2005

SembCorp Marine (S51) the ODD amongst the Crowd




Notice and observe something strange on this stock. Most opportunists would have captalising on the sell down of the so called D day on the 19th($2.81) and make entry on 20th, the next day in hope of gain from rebound. Price also dropped a lot already before (as in chart above) and S51 was in very oversold state. But instead the next day price went up in the early morning brisky to $2.86 and ended with very heavy selling pressure. Assuming that Day Trader went in at $2.85 - in the the heat of accelerating time, had to exit @ $2.77 prior to its close @ $2.76; nursing a huge loss on a single day. Today ended in shadowed doji/hammer. Shall keep a watch and seem better to ride on its uptrend rather than vice visa!

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