Resistance is obviously not just from traders, shorters and profit takers, but also by these larger houses that are having to liquidate at losses. They really kill the momentum. There are many who claim that there is huge upside potential for this stock, and I hope this is true. I'm just hoping that credit does infact continue to unfreeze so that there are no other large positions in SGX that need to quickly unload.

If SGX were a liquid, high value, blue chip I would buy this argument. This is not new. It's been happening in every market over the past year. Forced liquidation is the name of the game ... but SGX is none of the above.

Selling even 10 million shares of SGX would get you maybe 750k over the past few weeks, hardly enough to put a dent in a reported 265 million cash position.