Before I elaborate Clint, I used to have the same attitude as you, and typically whenever I jumped on the ask of a stock ... especially when it was pushing up against resistance (in this case .095) I usually got burned. So now If I am buying a stock that is trading in a channel, I pick my price and wait. The price will come eventually. Then if the price drops (which is not out of the question here) I don't get buyers remorse.
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You're right they are not all day traders ... but traders know, because they need some ability in TA, that there is a wall at around .095 and .10. and until there is significant news and volume the SP will not cross that line.
Day traders love this period of time because the price will fluctuate between .07 and .095 (btw there is strong support at .07). A good trader will wait for their price because they know that "technically speaking" , in the absense of news, the SP has a greater chance of breaking support than it does of breaking resistance
I am not suggesting that everyone buying SGX right now is a trader ... but this type of price pattern is a traders dream. So they are here in flocks. The SP crossed the 50 day MA on December 30, that would have triggered the attention of any trader who uses a stock screener.
