03-10-2015 Journal- $AMRN leading

Bear attack!  Set up the defense! Quick!

DJ-30 daily

As you can see, the last wall of short-term defense is the daily 89 XMA line.  The thick brown dash line where the red bar ended at.   If this wall holds, price will bounce back up like jumping onto the trampoline.  I see the S&P500 is up in after hour trading so we may see a bounce tomorrow.

$AMRN continued to lead even though it closed negative.  It simply held the lowest negative percentage change of the four positions.  $AMRN was able to fight off public urge to sell in the midst of a 200+ down day.  By the end of the day, it succumbed to a tiny negative close.  With light volume trading for the day, I say $AMRN has a strong support at this price level.

AMRN_daily

The daily chart shows that the red bar is light-weight with low volume.  As I browsed thru the internet, I noticed that I’m not the only one who believe that it is in the best interest of BP to buy $AMRN now than later; there are many who believe so too.  There are also counter-argument that BP would rather wait until Reduce-it trial is completed with positive result before even making an offer.  However, I like to think that BP may strike a partnership agreement with $AMRN that also comes with milestone payments.  In other words, the China licensing deal can be used as a model for the U.S. BP to license the use of Vascepa and combine it with their own statin drug to create a combo pill.  While I’m speculating about the possibilities, it seems that no matter how you cut it, buy-out, partnership, or licensing, it’s all good for $AMRN.  I can see price continues on a slow climb up the hill.

$LRAD finally closed below the lower Andrew Pitchfork’s trendline.  While this is not good; it is still too early to see if this trendline break is only a temporary drift.  It may still bounce back up before the week is over.

LRAD_daily

There is a lot of support at $2.50 and I think it will hold.

$TINY fell along with the general market.

TINY_daily

Price actually bounced off the 50% Fib retracement.  Notice that the 79 & 89 MA lines are still below the current price.  They are powerful supports.

$CERS is really taking a beating by thugs out there.

CERS_daily

Even with FDA approval for their blood plasma and platelets, price is still getting clobbered left and right.  There is a huge short positions that want to cover as low as they can get away with.  The only solution that can get $CERS out of this jam is to announce a big blood bank sign-up. Red Cross will be an ideal choice.  Thanks goodness I’ve unwinded about 80% of $CERS position and added to $AMRN.  However, as $CERS continues to head lower, I’ll be salivating to buy them cheap.

Due to negative closes on all four positions, my port gave back 1.6% for the day.  YTD losses is now at 2%.

Current holdings:

AMRN, LRAD, TINY, CERS and 1% cash.

My 2 cents.



Categories: Daily trading Journal

Tags: , , , ,

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