This is definitely a bear week.
Price has now penetrated both the 79 & 89 MA lines on the downside; but that doesn’t mean price will continue to head lower. The key action is that price trades around this area without moving too far south of the MA lines. As long as price trades near the MA lines even if it is under, there will always be a chance for a bounce.
Needless to say, all my stocks in my port were down as well.
While $DMRC was down,
it seems that the next support is the highs of the October upper trading range.
$LRAD still looks decent for a possible bounce from here.
Price is still trading above the 79 & 89 MA lines here with the 15 MA heading up. If $LRAD succeeded in nailing the deal with the Middle East cities, it may just save my port from current corrections.
$AMRN is stuck in the trading range while $ORBC is in danger of falling apart. The supports that can keep $ORBC from falling apart is the low of October and November 2014.
The damage to the port today is 2.1%. YTD losses is now at 3.3%.
LRAD, DMRC, ORBC, AMRN (100% invested/speculated)
My 2 cents.
Categories: Daily trading Journal