Market gapped down, traded lower and then spent the rest of the day climbing back up.
While it still closed lower for the day, I’ve to give the bull credit for fighting the bear bad breath to recover a chunk of the losses.
What more can I say? While four of my stocks were up for the day, they were not enough to offset the continued avalanche of $DMRC.
The only comfort I could see on the weekly chart above is that price is trading to the 89 MA and March 2013 support level. I’m feeling like a fool holding the bag for now; but let’s see what Wednesday update has to say before I declare myself a bagholder for $DMRC.
The irony of my $DMRC ordeal is that while I traded out of $KNDI correction from $22 to $11.xx by getting out of $18.5x, I put myself back into the same dilemma with $DMRC. Hindsightwise, it would have been wiser to just hang onto $KNDI thru thick and thin since $KNDI has rallied back in space. Now, I like to see $DMRC do the same as $KNDI. We just have to see if retailers are biting the Digimarc barcode system.
To look from a positive angle, I’ve seven stocks in the port, all I need is at least one to hit a knock-out rally and I can still have a good year despite $DMRC “current” correction.
Due to $DMRC steep decline, my port gave back 1.1% today. YTD losses is now 4.2%.
LRAD, DMRC, HYGS, STV, KGJI, ORBC, AMRN (100% invested/speculated).
From my other account:
$FITX gave back some gain from last week due to no news from Health Canada.
My 2 cents.
Categories: Daily trading Journal