While it seemed that the market was down but it really was just a neutral day.
Look at the daily chart above, it was a flat day despite a red bar.
I had three stocks down and two up for the day.
$LRAD continued to correct for the 3rd trading day.
I believe that it will start to bounce off the uptrend line tomorrow. After hectic weeks of strong upswing, the recent corrections were expected so I’m not concerned.
$DMRC took a beating early in the day but made a gallant came back to reduce the loss before closing.
Now, with a nice long-tail bar formed today, we “may” just see the bottom. Taking out today high later this week will at least confirm a bounce from here.
$HYGS gave back yesterday gain while $ORBC continued to inch higher. But the star of the day is, of course, $AMRN.
$AMRN finally broke out of $2 and filled the gap from late January of this year. This is a significant event for it shows that the sentiment has shifted back to the positive side. All eyes are on the FDA decision that may come next week if not this week.
Due to getting hit hard on $LRAD and $HYGS but cushioned by gain on $AMRN, my port gave back 1.8%. YTD gain is now at 13.3%.
LRAD, HYGS, DMRC, ORBC, AMRN (100% invested/speculated).
From my other account:
I sold $KGJI and bought $CLDX. Since this is a trading account, I tend to move things around more easily. Talking about this being a trading account, I’ve yet to kick myself for not taking profit on $LRAD when it went all the way to $3.88. But hindsight had a way of making a fool out of us; so I’m not going to dwell on it since the long-term prospect is still very good here.
My 2 cents.
Categories: Daily trading Journal