Today was a sneeze. It’s the only way the bear could muster out to impact the bull.
It was good to see the bull came back from the low to close at the half-way point.
There were not much action on my port during the day except to watch $CERS fought its way back to close almost neutral. It was actually a critical action on the bull part to fight the bear attack to close above the uptrend line.
By closing above the uptrend line, the bull is still basically in charge in an overall scheme of thing. Albeit $CERS gave back a chunk of gain in the interim, the trend is still on an incline heading up gradually. A bounce from here is likely.
$TINY bounce nicely today to counter the downdraft yesterday. The bounce today shows that the bull is still in charge.
Notice that the 5 MA line is pointing way up in a steep slope. A very bullish sign.
LRAD was neutral and the chart did not have any new information to tell so I’ll skip the chart.
Now, the big elephant in the room is $AMRN. Wow! The earnings update is the most positive and upbeat I’ve ever heard ever since I speculated in $AMRN several years ago. Am I glad I loaded up big time after selling $DMRC to do so. It is safe to say that I no longer have to worry about my investment in $AMRN. The future is bright from here.
The chart above doesn’t reflect the positive after hour price action. We may see how it goes tomorrow. While I’d lost quite a sum of money in $AMRN due to FDA negative actions despite $AMRN meeting every requirement stipulated in the pre-arranged SPA agreement for the Anchor indication, I now believe this whole FDA fiasco is a blessing in disguise. Had FDA followed thru with agreed upon action several years ago, I would have only doubled my money at best. Now, with a truck load (many times more than my original shares size), my gain will be much larger if price is to restore back to the $20ish.
Today was practically a breakeven day. YTD losses remained at 4.1%.
LRAD, AMRN, TINY, CERS (100% invested/speculated) I forgot to mention that I used the remaining 3% cash to add to $TINY to round up investment size and to $CERS when it bounced in the 5 min. chart after the morning downdraft.
My 2 cents..
Categories: Daily trading Journal