03-04-2015 Journal- $AMRN leading

Oop! Another itch for a correction. The market scratched a little hard this time.  Let’s see if the itch is gone by tomorrow.

DJ-30 daily

While a down day, it is considered to be a typical garden variety correction. The support is still below and have not been touched upon yet.  There is still chance for the bull to bounce back.

$AMRN came thru and it was able to sustain the gain without giving it back by end of day.

AMRN_daily

That was a very nice looking up bar.  Although it still needs to exceed the high of the previous red bar.  It sure is quite heartwarming to witness a very bullish chart pattern on $AMRN after years of getting kicked on the groin by the FDA fiasco.

$CERS continued to hold steady next to the uptrend line.

CERS_daily

The more it can hold next to the trendline, the better the chance of a coming bounce.  Now, we just have to wait..

$TINY dropped to the support line and bounced right back as if it hit the trampoline.

TINY_daily

If you look closely, you can see that price is forming a handle in the last few days of a cup & handle pattern.  A breakout to the upside from here will confirm a powerful cup & handle breakout pattern.  They didn’t name the Cup & handle breakout pattern for nothing.  It was so named ’cause the probability of a continued uptrend is strong when price break out of the cup & handle to the upside.

$LRAD was disappointing today.  OH well, there is nothing to do but wait for news.

LRAD_daily

There is still support at the lower Andrew Pitchfork uptrend line.

Despite a downdraft from $LRAD, $AMRN was able to carry the port to gain back 1.5% for the day.  YTD losses is narrowed to 2.6%.

Current holdings:

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

My 2 cents.



Categories: Daily trading Journal

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