11-06-2014 Trading Journal

The bull continued to trot upward in a fine sunny day.

SPY_Daily

New high and you can see the uptrend has been staying on top of the 5 MA line all the way which signify a strong bullish tone.

Today, I bought $URA to look for a possible double-bottom on uranium play.

ura_daily

As you can see on the daily chart above, price bouncing yesterday set up a potential for a double-bottom from mid October.  Due to price not trading down in the morning, I decided to buy a starter position to see if this double-bottom can hold.

$BAS also bounced some more today which improves the odd of finding a bottom with the 2013 low as support.

BAS_daily

The blue line you see in the chart is the line of the 2013 low.  Let’s see if price can continue to climb from here. Yesterday, I forgot to mention that I got the idea of $BAS from Mr. Cain Thaler of the ibankcoin.com.  Mr. Thaler penned a post about $BAS and I like what I read; thus I chose $BAS as my bottom-picking oil play.

$DMRC continued to hold the ground at the 23.6% fib retracement level.

DMRC_daily

Today was a small range low volume day which is to me a day to rest a bit after a yoyo weak.

$LRAD continued to fight against weak and impatient traders while waiting for earning announcement.  From my quick search, last year November earnings reporting date was Nov. 21st; so we should be expecting the same time frame for this month earning report.

LRAD_daily

Price is still strong to stay above the 5 MA line.

$ORBC announced today that it is to acquire SkyWave Mobile Communications for $130 mln. and on the same day also announced a public offering of up to $72 million of its shares of common stock.  On top of that, earnings announcement will be on November 10th.

My only response is “Wow!”

I’m thrilled!  I don’t care how the market is going to react tomorrow but I’m excited about the prospect of $ORBC becoming the largest global space-based M2M communications company.

ORBC_daily

Since these announcement came in after hour, the chart above showed a neutral stance.  Tomorrow, we will see how the market react to this news.  It’s really a toss since you have a secondary offering against an acquisition.  I’m glad I chose $ORBC despite the fact that I gave up $SWIR to focus on this one.  We will see if $ORBC can regain what I’ve missed in $SWIR spectacular run.

I also bought back a small position on $NUGT when price opened higher.  Since it is a small position, I use a mental stop instead of a hard stop.  By closing bell, I’m still in.

Thanks to $LRAD bouncing back, my port was up slightly with a day gain of 0.4%,  YTD gain is now at 12.7%.

Current holdings:

LRAD, DMRC, ORBC, BAS, URA, NUGT, and 5.9% cash.

From my other account:

I’m so glad I sold $FITX yesterday to cut my losses; otherwise, I would suffer another 43.6% losses.  Meanwhile, $MCIG got approval to spin off Vitasig.  Yay!  I will be getting a 1 to 1 dividend shares on the spin-off.  My last positive result from a spin-off was the Parametric Sound Corporaton (formerly PAMT).  PAMT was a spinoff from $LRAD.  I know not all spinoffs are the same but I like the concept of Vitasig so I’m betting it will work out.

My 2 cents.



Categories: Daily trading Journal

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