The bear got the first day of the week. It wasn’t really a bad day but more of a light-heart drawdown day.
While down, price is still way above the 79 & 89 MA lines for now. The 5 MA line seemed to work well as support for the day. As far as I’m concerned, the market is in the trading range mode.
Today, none of my stocks is leading. They were all in correction mode.
I’m going to let the charts do all the showing…
$ORBC was the worst performance so far while the other three are still within acceptable range of the 79 & 89 MA lines. $ORBC may still have a chance to bounce with the coming closing of acquisition and launching of the eleven brand new M2M satellites. I’ll give a bit more room to work on.
Needless to say, my port lost 2.4% for the day. YTD losses is also at 2.4%.
LRAD, DMRC, ORBC, AMRN (100% invested/speculated)
From my other account:
$AGEN spiked up further today but without me this time since I sold it last Friday. It is what it is. I’ve experienced enough spike down after a big up day in biotech that missing a spike up is a normal part of biotech trading if I want to lock in gain. Still holding $ARTH.
My 2 cents.
Categories: Daily trading Journal