Today was a hair-raising roller-coaster ride. A sudden drop that left your heart in mid-air while your brain blew the circuit breaker. Everything seemed surreal until you see the sky and found your heart again. Whew!
Price bounced off the lower Bollinger band and recovered most of the fall by day close. This bull has mojo. However, the next few days are quite important. Can the bull continue to defend the bear attack?
In the same manner, all four of my positions suffered the morning downdraft and all recovered nicely with the exception of $DMRC who not only recovered but excel to close much higher for the day.
$DMRC finally broke out of $30 and was able to close above $30 after failing to do so in the last two attempts. The next few days will determine how much mojo the bull has in behind this bull drive.
While price breached $30 resistance, staying above resistance and then turn it into support is the next tactical move for the bull.
$AMRN was also able to defy gravity earlier on and bounced back from last week downdraft. Today bounce is important ’cause it is the first day price ceased to fall further after falling every day last week.
You could see price bounced off the Fib 61.8% retracement. Both momentum indicators are also beginning to point back up.
$ORBC and $LRAD both bounced back from the drop but are still struggling to stay near support. Nevertheless, I’ve faith in their fundamental so I’m not worried about them.
Thanks to $DMRC spectacular rise and the slight gains from $ORBC and $AMRN, my port gained back 2.5% with YTD gain back at double-digit at 12.2%.
LRAD, DMRC, ORBC, AMRN (100% invested/speculated).
My 2 cents.
Categories: Daily trading Journal