dead man walking -n: ( *US *) a condemned man walking from his prison cell to a place of execution
We had an interesting story on BNBR last Friday. Having pushed hard by selling pressure the whole morning session, BNBR tried to regain its buying mood at second session. What was actually triggering few traders, which we would preferably called "Friday's gamblers", to have such a hope in the second session, especially, toward the closing? First, BNBR has yet really to break off any historical significant highs. On Friday, it VWAP ended up at 84,50, and secondly, its volumes has started to wane which no longer supports a strong case for a qualified break out. If it is possible of all case, then we tend to see its volume building up toward anticipated selling off, instead of buying. And, thirdly, this is the most important, the first 2 hours of London Stock Exchange opening on Friday, had been used up by certain traders suspectedly linked to Indonesian market by staging the early price action. In less than 5 minutes, the trade was faked to bring the price up +5,2%. Lazy eyes and inexperienced traders in Indonesia would notice this as an appaling reversal from yesterday's drop almost -7%. But, seasoned traders must have had easily been aware of the tricks because they realized that the accompanying volume did not support the price lifting. The trade volume at that time was only up to 300 units while the average 3 month volume was almost 47,000. This was a simple trick which did not work, and accordingly we advised our Indonesian clients at that time having been coordinated with our London's trading room to remain vigilant and did not get into the trap. The intraday chart of Bumi, Plc or formerly known as Vallar, Plc. well describes what happened in Friday. [image: Bumi, Plc (intraday Friday).png] BNBR is a complete portrait of a dead man walking now. After falling off almost -7% on Thursday, its subs, BUMI, plc. was even finally getting even lower -0,95% on Friday, and had its second free fall that day from the top 1,315 to the squashed floor 1,225 or -7,35% high-low. It closed with another red -0,95 while FTSE100 down only -0,32%. What went wrong with BUMI, Plc over past weeks? This news analysis may help you. No further good or bad news helping this stock. [image: Bumi, Plc (news analysis).png] On technical, we concur our London's network judgment explaining: Settlement as of 13/05/2011, at 5:45 p.m. Slight fall for Vallar Plc as it closes -0.95% down. The share started the day with some lively movement, debuting at 1,271, below the previous session's top mark, but then gradually slumped as more exchanges were made. Looking at the weekly scenario, Vallar Plc lagged the benchmark index's gains, which could mean that shares will soon be changing hands. Status and Trend Analysis The short-term scenario shows a decline towards the 1,214 area with first resistance seen at 1,322. Expectations are for Vallar Plc to continue its negative run towards support at 1,178. Another dead man walking soon in IDX is GGRM in addition to ASII. We advised our client early Friday last week to immediately book any profits. We will explain it a bit further on Wednesday. '+'
<<Bumi, Plc (intraday Friday).png>>
<<Bumi, Plc (news analysis).png>>
