The bull, apparently suffered from vertigo, fell over backward and then rolled down the hill. After vomiting out yesterday’s digestion due to the spinning sensation, it felt a bit better and was able to crawl back up some.
It was an ugly day but yet a redeeming one as well. The price stayed inside the tan rectangular box and was a green bar that reflected the tenacity of the bull. There may still be hope for the bull.
I’d another fortunate day. While $LRAD went down quite heavy in the day, it managed to come back to minimize the damage.
That was a very nice long-tail doji with price closing very near the 79 MA. If price can take out the high of today bar, it will be a very powerful bullish reversal signal. In other words, $LRAD may find its bottom today.
Meanwhile, three of my other stocks closed higher for the day despite a down market.
$ORBC had a spectacular price momentum today. You would think that there were no large market down day just by looking at $ORBC daily chart.
Price obviously cut thru the 79 & 89 MA lines like hot knife thru butter. Imagine where price will go when the general market begins the bull run again. Something is cooking at $ORBC and I don’t know what it is. But I don’t mind it ’cause I’m always bullish with their brand new state-of-the-art M2M satellites they have launched with more to launch by year-end.
$DMRC continued on higher which was quite a performance in a down day considered it was a low float stock that was easy to be manipulated.
As you can see, price is approaching the 79 & 89 MA lines.
$CERS is finding its footing giving current virus and baterial infectious climate.
Price actually filled the gap and bounced back up which is a good sign for the bull.
$AMRN was the second stock that was closed negative; but it was a small dip so I’m not going to put a chart on it.
Thanks to stellar performance from $ORBC and $DMRC, the gains were more than enough to offset $LRAD’s drawdown to still bring my port up by 0.5% higher. YTD gain is now at 4.2%.
LRAD, DMRC, ORBC, CERS, AMRN and 10.3% cash.
From my other account, I bought back a small (10% of original size) number of $IBIO for the bounce. I also bought some $KNDI to test the water. Both are in the black after closing bell.
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