Now, everyone wants to win, especially the strong ones. Notice during the day that volume didn't pick up as much as they'd hope it would (having only 700 lots traded mid-day compared to the 1,100 of the previous day), and the price never broke through the price ceiling of $3.96.
With intensity severely lacking, and a low ATR for the day, the strong hands know a lost cause when they see one and promptly did a sell down close to lunch in an attempt to resuscitate the limp market.
That had the equivalent of jolting a dead frog with battery acid - the market jerked up 2 cents after lunch and intensity picked up within a 3-cent range of $3.93 - $3.95, but it never got to where the strong hands wanted them.
So we sold, to the advice of Shifu Ang, at $3.94. A good a price as any.
Good Game.
Breakdown:
Chart from Yahoo Finance.
Fig. 1. SembCorp Intraday - 120310SembCorp
Opening Price: $3.97
Previous Volume: 4,130
Closing Price: $3.94
Closing Volume: 1,880
Price Acquired: $3.89
Lots Acquired: 5
Break-even Price: $3.92
Price Sold: $3.94
Transaction Cost: $109.62 ($54.46 + $55.16)
The Win: $140.38 ($0.05)
The Score So Far: -$3042.75
The Call: Intensity on Monday could bring the stock to a new high, but watch out also for signs of exhaustion depending on how the DOW performs on Friday (it went up by the way).
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