02-13-2014 Journal- $DMRC leading

Finally the DOW has an up week following a red Friday. The pattern of a falling week after a red Friday that has repeated twice is broken.

DJ-30 daily

After a teasing Monday drop that the bear wanted to push for a third repeat of the red Friday pattern, price took off from Tuesday and never looked back.  However, from the weekly chart below, the DOW has a challenging week ahead.  Will it breakout of the resistance that it is butting its head against today?  Or will it turn around and drop back down from the resistance?

DJ-30 weekly

From the weekly chart above, it looks like next week would be the third time the DOW is trying to break out to make new high and not look back.  Next week will be interesting…

$DMRC excelled today with a nice bounce from recent consolidation.

DMRC_daily

Look at the beautiful daily chart above.  Today price action took out the pivot high of Jan 27th. Even the momentum indicators are now pointing upward in support of today momentum; in other words, they are not showing overbought signals yet.  The weekly chart below shows a more revealing direction.

DMRC_weekly

This week bar shows a much more powerful bounce off the uptrend line in pursue of breaking out of the symmetrical triangle to the upside.  It is not that far from the downtrend line above.  Another strong week and $DMRC will be breaking out.

$CERS started out badly but recovered nicely after taking out the low of this week.

CERS_daily

A continued upward momentum next week will create another higher pivot low which is very bullish.  Notice prices were always trading above the 79 & 89 MA support lines.  The weekly chart below is even more revealing…

CERS_weekly

This week bar bounced off both the 79 and 15 MA lines as well as the Fib 50% retracement support.  If this week represented the bottom of this down leg, we are looking at the possible 3rd wave of an Ellliot 5-Waves theory (EWT).  Normally, the 3rd wave of EWT is the longest wave.  I can expect to see $8+ if the 3rd wave is in force.

$TINY has a strong week and this week bar penetrated the 79 & 89 resistance.

TINY_weekly

From the weekly chart above, price broke out of both the 79 & 89 MA lines as well as the upper band of the Bollinger band.  Not to mention that the downtrend line had been confirmed to be broken by now with this week action.

$LRAD had a mediocre week but it was still strong enough to stay above the weekly uptrend line.

LRAD_weekly

If management can nail the Middle East cities’ mass notification sales, price will take off from here pronto.  After seeing a large bids at $2.65, I took the opportunity to peel off some shares so I could use the proceed to buy back some $AMRN.

After seeing $AMRN daily chart, I couldn’t help noticing that price is holding above the 79 & 89 MA lines instead of falling back below it.

AMRN_daily

Giving my past losses and history with this stock, I must get back into this stock for the upward long-term bounce (if there is one) to avoid kicking myself if the stock finally vindicates itself with positive fundamental development.

AMRN_weekly

The weekly chart above shows an even more bullish stance due to relatively high volume in an up week.  Did you see how the Bollinger bands have narrowed here.  Look like a breakout may be imminent.

Thanks to rallies from $DMRC, $CERS, and $TINY, my port gained back 1.2% for the day. YTD losses is now at 0.10%.which is practically breakeven.  I look forward to see my port to begin the process of making new high from here.

Current holdings:

LRAD, DMRC, CERS, AMRN, TINY (100% invested/speculated).

My 2 cents.



Categories: Daily trading Journal

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