The market really tried hard to rally; unfortunately, it went out of mojo to maintain altitude.
While price gave back most of the gain during the day, it at least closed higher.
Today, four out of five went up. It was $LRAD that closed negative.
Nevertheless, price is finding support at the 79 & 89 MA lines.
$DMRC continued to head higher in anticipating of next week earning conference call. Will the big retailers’ name be revealed? Do they like the Digimarc barcode?
If price can take out the 79 & 89 MA lines to the upside, we are heading higher. And if there are positive news regarding the big retailers, we will see a rocket launch soon due to the fact that $DMRC has a super small float of only 6+ million shares.
$ORBC also had a good day with strong momentum behind it.
Price broke out of its tight consolidation and approached the 79 & 89 MA lines to the touching point. Will it simply walk over the lines tomorrow?
$CERS had a spike up day.
Price is now on top of the 79 & 89 MA lines. If it can find support on these two lines, it will be in good shape.
Thanks to four stocks being up, my port, after offsetting $LRAD drawdown, still came out with a 1.4% gain for the day. YTD gain is now at 3.7%.
LRAD, DMRC, ORBC, CERS, AMRN and 10.3% cash.
My 2 cents.
Wisdom from Warren Buffet:
“With a wonderful business, you can figure out what will happen; you can’t figure out when it will happen. You don’t want to focus on when, you want to focus on what. If you’re right about what, you don’t have to worry about when”
Categories: Daily trading Journal