10-20-2014 Trading Journal

The bull made another push against the bear and gained another foot of movement…

SPY_Daily

At least, the bull now emerged out of the rectangular box.  Now it needs to overcome the resistance from the previous low established back in August.  We will know tomorrow if this resistance can be broken to the upside.  If not, back to the box it will be.

Today was almost a neutral day for my port with two slightly down ($LRAD, $DMRC), three up ($ORBC, $INFN, $NUGT), and one even ($AMRN).

I was fortunate that my $NUGT did not get stopped out at the open.  In fact, price opened higher and spent the rest of the day continued upward.

NUGT_daily

From the daily chart above, the rally today only put the price back into the consolidation range.  In other words, price is still basing and there is no inclination of a breakout just yet.  However, notice that the 5 and 15 MA lines are now converging and it is possible that another up day will make the 5 to cross over the 15.  Thus, if there is another up day tomorrow, I may add to the $NUGT position.

$INFN rallied nicely to maintain a bullish stance.

INFN_daily

Notice that the 5 has crossed over the 15.  Price action looks good for a continuing rally.

$LRAD managed to rally back to close at “almost” breakeven.

LRAD_daily

Notice that price is still hanging around the 79 & 89 MA lines.  I’m still very bullish with this one and anyone who sold has allowed the short-term traders to influence their conviction of the trade.  Not me, I’m hanging on to all my shares waiting for the big rally that is still simmering underneath the earth waiting to explode.

$DMRC’s judgement day may be this Wednesday.  Will the earnings call reveal the big retailer(s) who is/are testing the Digimarc barcode?  If so, do they love it?  Any positive news will move the price higher; however, another “we are not allow to disclose the name of the retailer yet” update will stall the advance unless it is qualified with a comment that they like what they’ve seen so far.

Thanks to $NUGT, $ORBC, and $INFN, my port gained 0.3% today with YTD gain at 5.7%.

Current holdings:

LRAD, DMRC, ORBC, AMRN, INFN, NUGT, and 3.5% cash.

My 2 cents.

My reminder:

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

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