The market was trying hard to correct but decided against it.
It wasn’t really a down day even though it was down most of the day.
Today, I sold $CPST to take small losses ’cause price took out the low of the last five trading days.
And also because the overall price trend is down. I bought originally looking for a bounce but it didn’t happen even after two announcements of new sales; thus I’ve no choice but to sell when price took out the previous lows.
Another motivation for me to sell $CPST is because I really wanted to add to $ORBC.
My gut feeling, or should I say intuition, tells me that price is going to bounce soon due to the coming operation of the recent launched satellites in mid-September. Price were flat for the last three weeks instead of trending down which gave a higher probability of bouncing. Thus, I added to $ORBC with the proceed from $CPST.
For the day, four out of my five positions were up with one at practically breakeven.
$LRAD finally closed above the resistance!
Volume was also much higher than the last five trading days. This could mean that price has a high probability of staying above the resistance (now support) of $3.36. Giving the strong upward momentum for the last four weeks, there are a lot of confidence that $LRAD will land a large order among the possible deals I mentioned in my last trading journal.
$HYGS and $DMRC also bounced some today which to me are much better than a down day.
$AMRN was practically neutral even though it was down slightly. There really isn’t much to look at for $AMRN since we are all waiting for the FDA decision.
Thanks to four positions on the upside, my port gained 2.2% with YTD gain at 17%.
Current holdings: (and then there are five…)
LRAD, HYGS, DMRC, ORBC, AMRN (100% invested/speculated).
From my other account:
I bought some $IBIO today to add to the portfolio mix. Meanwhile, $LRAD continued to advance my port while $FITX remained unmoved while waiting for licensing approval..
My 2 cents.
Categories: Daily trading Journal