03-09-2015 Journal- $AMRN leading

Well, what do you know, the bull woke up and decided to take control back from the bear.  It was an easy take-back since the bear is playing in the bull territory.  Yes, anything above the 79 & 89 MA lines is considered bullish territory.

DJ-30 daily

Right now, the bull has one thing to overcome.  It is the resistance from the December high.  Apparently, this resistance stopped the bull from advancing any further for the day.

$AMRN continued to move higher and carry my port back to near breakeven YTD despite corrections on the other three stocks.  Seeing that $CERS continued to struggle in the morning, I peeled off some more to cut losses and added a bit more $AMRN to round up the position size.  As I re-read the $AMRN earning transcript again, I’m beginning to think that management is setting itself up for another BO opportunity from BP.  Only this time, it has much more meat than before.  The China deal ought to add more flavor to the deal.  Perhaps, this time around, they may be able to get the price they wanted.  IMHO, it is in the best interest of the BP to make an offer sooner than later ’cause once the Reduce-it trial shows success, $AMRN doesn’t need BP anymore, it will become BP on its own.

AMRN_daily

The next resistance is at $2.09 from last September high.  Will it go straight up there or will it zig-zag around to get there?

$CERS continued to disappoint when it could not open higher to get over the trendline.  Instead, it was struggling to keep from sinking further down.  Seeing bearish movement, I unloaded some more to cut losses and use some of the proceed to add more $AMRN to round up the position size.

CERS_daily

The next support is the Fib 78.6% retracement which also happened to be the supports from Nov/Dec periods.  If it holds, perhaps we can see a bounce soon.  But management needs to release more blood banks sign-up soon to pause the downdraft.  Currently, my investment size in $CERS is relatively tiny compared to the other three positions.

$LRAD, while down, was able to close above the lower Andrew Pitchfork uptrend line.

LRAD_daily

I’m still waiting for the news from Middle East cities.  The CEO supposedly went over there to personally demonstrate their mass notification system.  Let’s see some positive result soon.

$TINY did not fair well either.  Perhaps, the investors are not too excited with only one IPO in the card.  Since I’m already invested and is still in the green, I’m going to hold to see if it will bounce soon.  I’m waiting to hear more from the D-Wave Quantum computer and its recently new 1,000 qubits platform.  Any positive improvement over its predecessor will enhance the value of D-Wave.

TINY_daily

The next support is the Fib 50% retracement which also happened to be where the January high was.

Thanks to $AMRN, my port gained back another 1.3% for the day.  YTD losses is narrowed to 0.4%.

Current holdings:

AMRN, LRAD, TINY CERS and 1% cash.

My 2 cents.



Categories: Daily trading Journal

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