What do you know? Price bounced off the 15 MA line today. Yeap, these MA line works from time to time…
Now, it just needs to get over the 5 MA line tomorrow.
Well, my port also followed the same playbook and bounced back up like a ping pong ball.
I’ve to say all the credit goes to $DMRC for being such a good sport. Apparently, someone like this company so much that he/she/it plunged down enough dough to buy 625,000 shares at $24 pre-market. Whoa! That is almost 10% of the float!
Now, what reason does $DMRC need all this cash? What do you think? My bet is that they are gearing up the operational side of their business to prepare for the onslaught of requests from vendors to have their packaging artworks “embedded” with the Digimarc barcode. And why would this onslaught of requests come into the picture? Well, I’m venturing to guess that some of the big retailers are beginning to adopt the Digimarc barcode system and will be demanding all their suppliers to get their packaging artworks “Digimarced”. Now, wouldn’t that be a nice picture to visualize. I’ve been waiting for this moment to happen. Only time will tell if I’m correct in my bet.
Look at the tall green bar with super-high volume! Isn’t that a sight? All the MA lines were penetrated to the upside. Wow!
While $LRAD and ORBC bounced back some after yesterday big drops, $DMRC carried the ball today by taking my port up 2.9%. YTD gain is now back at double-digit 10%.
LRAD, DMRC, ORBC, AMRN (100% invested/speculated)
My 2 cents.
Categories: Daily trading Journal