03-02-2015 Journal- $AMRN leading

What do you know, the itch the market scratched last Friday was good enough and the itch/urge to correct is gone.

DJ-30 daily

Up and away it went.

Unfortunately, I could not say the same for my port.  Only $AMRN closed green while the other three closed negative.

$CERS continued to correct. Price is now heading toward the uptrend line.

CERS_daily

I’m seeing a trendline support at around $4.40.  Somehow, despite my position taking drawdown, I’m feeling quite calm about this.  One thing I noticed on the tape during the sell-off was that there were a LOT of bids being put up to absorb the selling.  It was as if somebody was applying selling pressure to the price so as to trigger a selling frenzy from the nervous hands.  Lo and beholds, large bids would be there to absorb the selling.  And when the bids were absorbed, another big one appeared in the next level down.

$CERS is the stock you need to make up your own mind on it.  You can’t rely on reading opinions of the others.  If you do, you will be as confused as a snail inside a round goldfish bowl.  The arguments for both bull and bear are all valid.  However, I’m putting my bet on the fact that the FDA is drafting a guideline to prevent bacterial contamination of blood platelets.  I believe the concern for blood contamination has become an issue that is prevalent in the medical community.  $CERS was expecting FDA approval for blood platelets and plasma in the 1st or 2nd quarters in 2015, the surprisingly quick approval for both blood platelet and plasma in December was, to me, a writing on the wall.  It could be that a tool to remove/inactivate the pathogen in the blood is needed as soon as possible.  Approving the $CERS’ INTERCEPT technology sooner will give the company time to establish the infrastructure to sell in the U.S. while the FDA is working on finalizing the guideline to prevent bacterial contamination of blood platelet in 2016.  There you go, my rationale for being calm about this current downdraft.  Those who sold today and Friday would be stunned in due time.  I still have 3% cash, I may add more $CERS when the price start to bounce.

$TINY finally has a healthy correction.

TINY_daily

Price bounced off the supports and closed above the previous high of $3.43.  It is important for this support to hold for the bull to continue onward.

$AMRN wanted to go up but is looking for a good reason to do so.  Tomorrow earnings and operational update will provide the necessary catalysts.  I’m very curious to hear more details on the China deal.

AMRN_daily

While a small doji bar, I’m just excited to see that it isn’t going down.

Somebody dumped $LRAD in the morning and dropped the price to the Andrew Pitchforks’ lower trendline.  As in jumping on a trampoline, the price bounced right back up.

LRAD_daily

This one requires a lot of patience.  No problem.

Due to continued downdraft of $CERS and correction on $TINY, my port dropped another 1.6%.  YTD losses is now at 4.1%.  Despite a down day, I’m quite at peace with my positions.  I’ve faith that my port will turn green sooner or later.

Current holdings:

LRAD, AMRN, TINY, CERS, and 3% cash.

My 2 cents.



Categories: Daily trading Journal

Tags: , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: