The market was splashing under water for most of the day but managed to close with head up in the air… Whew!
The daily chart looked good at the close despite its spending all day in the negative territory. Again, the bear failed.
$LRAD saved the day by bouncing a bit.
Chart looked much better with price closing above the upper border of the previous consolidation range as well as above the 79 & 89 MA line.
$DMRC recovered by day close to settle a tiny bit above yesterday close.
Price is now attempting to bounce from a 50% retracement from previous low established in early June.
$AMRN did not take out yesterday low which was a positive sign that the bull is still intact.
Price bounced from yesterday close and stayed above it even at closing bell. The interim short-term trend is still up and price is still above the 5 and 15 MA lines. Price needs to take out the 89 MA resistance line next week to keep moving up.
$ORBC continued higher.
I like the fact that price closed above the 79 & 89 MA lines. The overall interim trend is still up.
$KGJI continued to disappoint by trading below the consolidation range.
I need to keep an eye on this one; but I also don’t want to get out too soon. Potential bounce from this one is very strong.
$NMRX suffered from a last minute dumping at the closing bell.
Despite the dumping, it was probably an unloading of a single investor looking to raise cash for the weekend. Next week will determine if this dumping will trigger a fall from here. There is still support at the $11.43 area.
Despite a negative close, $BIOS is still on an uptrend mode.
Currently the 15 MA line is a supporting line with price zigzagging along for the last two weeks. If overall market continues to run next week, $BIOS may breakout to the upside.
So far, $KGJI and $NMRX are on the watchlist for potential bearish action; the rests are still in good shape for a good bull run.
Thanks to $LRAD, my port gained back 0.5%. YTD gain is now 5.2%. While these daily small % change seems trivial for my port, these are expected volatility while I’m waiting for big move on any one of my seven stocks.
LRAD, DMRC, AMRN, ORBC, KGJI, NMRX, BIOS (100% invested/speculated)
From my other account:
I’m still holding $MCIG, $TWD.V, and $ENRT. They are all practically uneventful for the week as shown in the charts below:
Categories: Daily trading Journal