“Houston, we’ve lifted off!”
The bull finally got traction and it ran up the hill. Today big bounce further supported the magical quality of the 79 & 89 MA lines.
Thankfully, my port went along with the big rally today with $LRAD leading the charge.
Price bounced off from the mini-uptrend line and is now heading toward the 79 & 89 MA lines. I like to see it cross back over the top soon.
$DMRC came second in gain by coming back from the low to close above the uptrend line as well as above the 79 & 89 MA lines.
Price looks good for a continuing bounce from here. Fundamentally speaking, everything has fallen into place for Digimarc barcode to be adopted because the benefit of using the Digimarc barcode simply cannot be undermined.
$ORBC continued to advance above $6.00.
We are seeing a potential V-shape bounce here that may take price back to $6.75 resistance.
Today, I sold about 50% of $AMRN to buy $CERS. I’ve been watching $CERS ever since they received FDA approval for their INTERCEPT blood system for platelets. Since I didn’t want to chase it, I was waiting for profit-taking correction to jump back in. And with some luck, $CERS announced public offering of new stocks to fund the U.S. operation, this dilution kicked off a slide in stock price that dropped all the way to the 89 XMA support line. Seeing price bouncing off the 89 MA line, I took the opportunity to buy some by selling off some $AMRN shares.
That was a very nice bounce-off from the 89 MA line from the daily chart above. If price can take out today high tomorrow, we may see a continued bounce from here.
$AMRN is still stuck in the $1.xx muddy area…
Thanks to the rallies from $LRAD, $DMRC, and $ORBC, my port gained back 2.5% for the day. YTD losses is reduced to 2%.
LRAD, DMRC, ORBC, CERS, AMRN (100% invested/speculated)
From my other account:
My $BAS trading position was stopped out at breakeven. I then bought $CERS in the low $5.0x when it was bouncing off the 89 MA line. Later on, I sold half of my $AMRN from my main account to buy more $CERS.
Still holding $ARTH and $VTCQ.
My 2 cents.
Categories: Daily trading Journal