Market started off on the wrong foot but found its way back to the top.
On the daily chart above, you would think the bull roared back from almost falling off the cliff. But when you look at the weekly chart below, it is just another up week.
And the bull marches on.
Today my port had a close call with three up and two down.
$HYGS, $ORBC, and $AMRN managed to bounce back nicely after starting poorly from the open.
$HYGS ended the week slightly higher than last week close.
Price bounced off the 89 MA support line after touching it this morning is further proof of the magical quality in the 79 & 89 MA lines.
$ORBC also bounced off the long-term support line.
As we approach mid-Sept, price can see $7 in a New York minute when news of full operation of all new satellites is released.
$AMRN closed strong despite the pull from the bear during the week.
Also with a catalyst event in mid-Sept, price may shoot up if FDA reflects a positive attitude toward Vascepa.
$DMRC ended the week on the weak side.
Oh well, nothing for me to do but to wait.
While $LRAD was down today, I like the way it came back from the low of the day.
See how price bounced off the 15 MA line and closed near the resistance/support at $3.36? The way I see it, this rally is far from over.
Thanks to the rally from three stocks, the gains were enough to offset the drawdown from $DMRC and $LRAD to get a breakeven for my port. Thus, YTD gain remains unchanged at 15.1%.
LRAD, HYGS, DMRC, ORBC, AMRN (100% invested/speculated).
From my other account:
I sold $KNDI for small losses. I also picked up some $KGJI at $1.32 looking for a bounce. Because I got the dividend from the main account, I’m willing to give this one another chance over here.
See how today low bounced off the 89 MA line? This was why I bought $KGJI for the bounce.
Still holding $FITX and $LRAD.
My 2 cents.
Categories: Daily trading Journal