These days, the market is acting like a basketball on a tub of water. No matter how hard the bear pushed it down, it would pop right back up.
Another green bar to close the day. Now, can it close above the 5 & 15 MA lines tomorrow? Look like the 5 MA line is about to turn back up above the 15 MA line.
Today, three stocks were up with two down; but due to a steeper drop by $AMRN, my port dropped 0.7%.
Price dropped and touched the 89 MA line before bouncing back up. At this stage, as I’ve mentioned yesterday, it doesn’t matter if price is at $2.30 or $1.81; what matter is what the FDC decides. Unless you are a short-term trader, today plunge makes no difference.
$DMRC continued to bounce.
Thanks for that ’cause it helped cushion the $AMRN drawdown. With a bullish engulfment bar yesterday and a follow-up rally today, the probability of a bottom increases another notch.
$ORBC also climbed back near the 79 & 89 MA lines.
If they can move above those two lines, then $ORBC will be in good shape.
With $DMRC and $ORBC gains cushioned against $LRAD and $AMRN drops today, my port gave back 0.7%. YTD gain is now at 11.7%.
LRAD, HYGS, DMRC, ORBC, AMRN (100% invested/speculated).
From my other account:
Still holding $FITX, $LRAD, $CLDX, and $AMRN Jan 2014 $2 call option.
My 2 cents.
Categories: Daily trading Journal