The market spent the whole week making up for lost ground from the Monday sell-off. I would consider it a win ’cause the bear failed to push it down.
Price was able to stay above both the 5 and 15 MA lines to close the week. Yay!
In a similar manner, my port also spent the whole week making up for lost ground from Monday as well.
Thanks to the sudden buying frenzy in the last half hour going into the close, $LRAD was able to close positive for the day.
From the weekly chart above, while a red bar, I like the fact that price closed above the Andrew Pitchfork mid-line with a long-tail below. This meant the bull was able to fight back again the gravity pull from the bear. The uptrend line is still intact!
$DMRC brushed off yesterday bear child play by bouncing back some to counter the short attempt to break the uptrend momentum.
The weekly chart above looked strong for a recovery bounce. With a high volume week, it sure looked like the rocket is fueled up for blast-off any time now.
$ORBC had an uneventful week.
From the weekly chart above, price was able to fight back the gravity and closed above the 79 & 89 MA lines. As long as price stay above the magical lines, $ORBC is in good shape.
$AMRN did not have a good week. Price literally gave back half of the gain from two weeks ago.
As you can see on the weekly chart above, price is approaching 50% Fib retracement point. Will it bounce then? Stay tune for next week.
But for the day, thanks to good performance from $LRAD and $DMRC, my port was able to gain back another 1.5%. YTD gain is now at 12.6%.
LRAD, DMRC, ORBC, AMRN (100% invested/speculated)
My 2 cents.
Categories: Daily trading Journal