Whoof! The sudden movement went right pass your eyes and you could barely made out the shadow. The gust of wind smashed your face with such force you had to find out what was moving so fast. You took out your binocular and saw the horn of the bull before it disappeared into the horizon.
Up, up and away. And the bear finally lost its grasp…
Today, $LRAD, $DMRC, and $INFN went along with the general market.
$DMRC cautiously closed higher.
Price is at a very critical crossroad. It is only a stone throw of crossing over the 79 & 89 MA lines. These MA lines are also happened to be at the resistance line of $25.4x that began all the way from early August. Thus, a break out from here will signify a powerful rally ahead. If not, it will fall back down. Tomorrow after market close is the time when the fat lady sings.
$INFN also closed higher.
The bounce is strong but price is now at the Fib 61.8% retracement from the recent down trend. $INFN is also reporting tomorrow after hour. The prospect of getting two surprises tomorrow makes it a special event day- one that will impact my port one way or the other. I’m leaning on the positive side, of course.
I got slapped by $NUGT today. Price went higher after open and I double-down expecting it to hold steady or go up. Instead it came back down to hit my stop for the new add. At the close, I’m still holding my original position with the GTC hard stop still intact.
Anyhow, thanks to the three positive closings, my port gains another 1.4% with YTD gain at 7.1%.
LRAD, DMRC, ORBC, AMRN, INFN, NUGT, and 2.8% cash.
From my other account:
I decided to buy $MCIG as my way to get back into the cannabis/eCig sector. I like $MCIG for both technical and fundamental reason. Fundamentally speaking, mCig announced it has executed a landmark distribution agreement for VitaCig covering South Korea. To me, this is very big in term of getting a strong push in promoting its VitaCig ecigeratte. Per news release, this may be the first of the many international deals in the near future. I’ve reason to believe mCig may eventually become a main stream player with its popular VitiCig. Why do I say that?
Well, I actually ordered the Viticig and gave it a try.
I couldn’t believe the amount of vapor (look like smoke) I could blow out from the tiny eCig. I shared it to others and they all loved it. And not only that, the price is quite right ’cause it is very affordable. So, with proper marketing, VitiCig can hit the mother lode.
Technical speaking, the bounce today with high volume is a good sign that a bottom is settling in.
See how the 5 MA is turning up as well as the momentum indicators.
My 2 cents.
Categories: Daily trading Journal