Ok, turkey time is not the time for a bull run. The Bull has got to eat the turkey first, so they say…
A slight dip was all there is. Nothing to write home about. The bull is still your friend.
But not so much for my port. $LRAD has been subjected to intense manipulation. I see program buyers are doing everything they can to shake shares of scary hands to pick up cheap shares. Or it just could be as simple as day traders bailing out for not wanting to wait for news event.
Price dipped a bit and is now between the 79 & 89 MA support lines. As far as I’m concerned, this is a long-term play anyway, so current price action only serves as an entertainment value. I could get all excited about a 30 cents to 50 cents move for an emotional kick in current time but the real deal is in two-three years time when price could be significantly higher than now.
$DMRC continued to bounce nicely.
It is always a good sign when price bounces from the 79 MA or the 89 MA line. Notice that the bounce range is also close to the 61.8% Fib retracement level. A double-supports are always good.
$ORBC inched forward again. Like a seed sprouting, I can see this one growing to be very big down the line. Have you planted a tree before?
Notice that both Bollinger bands are pointing up.
$AMRN is now testing my resolve. This pattern is much too familiar. Holding gains and then watched it evaporated in front of you under the name of conviction. Man, I really want it to be different this time.
Even though I don’t like it, but the 79 & 89 MA lines can be very powerful resistance. So, new catalyst must come in soon to kick this one above the resistances. As for now, I’m still sitting in profit.
Due to downdraft from $LRAD and $AMRN, my port gave back another 0.7% with YTD gain at 13.7%.
LRAD, DMRC, ORBC, AMRN (100% invested/speculated)
From my other account:
I bought more $MCIG to take advantage of the free dividend shares since today was the last day to buy to become a registered owner for the dividend shares. I’m not sure if this is a wise decision but I’m always ready to play the odd for a possible windfall from the success of Vitacig.
My 2 cents.
Categories: Daily trading Journal