Today the bull is in full spirit whereas yesterday it wasn’t.
It is a solid bounce back above the 79 & 89 MA support lines. There is a strong possibility of a follow-up bull move tomorrow.
$AMRN continued to rock & roll. Finally, we’ve another upgrade with a target price of $10.00. I’m sure this is the one of the many more to come since confidence is in abundance at this moment.
Look at the rocket ship! I believe this stock has been “forced” down for so long that with recent positive developments, it is in the process of expanding back to its formal size. Thus, any temptation to take profit is not in my playbook at the moment. Since I’ve loaded up many times larger than my original position from two years ago, I’ve already recovered all $AMRN former losses at current price.
I was expecting $LRAD to step up as well to push my daily gain even higher but it wasn’t to be. Instead, it went the other way. While gain from $AMRN more than covered $LRAD drawdown for the day, it was frustrating to witness such disappointing performance. All I could think of is that someone with a lot of $LRAD shares needed the cash or got a margin call liquidation.
Since the uptrend line has been broken, the secondary support is now the lows of Oct and Dec of last year which is $2.30. Let’s see if there is a bounce tomorrow.
$TINY could not maintain the bounce and fell back a bit more.
The good news is that price is still trading above the 79 & 89 MA support lines.
$CERS finally bounced some instead of another down day like $TINY.
Since my holding of $CERS is relatively small compared to the other three position, I’m not too concern with the downdraft at the moment. As a matter of fact, I’ve already gained back my $CERS losses when I cut losses to buy more $AMRN not too long ago. I don’t believe $CERS can go any lower since they have the FDA approval to sell in the U.S. The way I look at it, $CERS has a potential to explode to the upside with any positive news (e.g. Red Cross sign-up) since there are still lot of shorts that needed to be covered.
Despite a heavy downdraft from $LRAD, the rocket ship $AMRN carried my port to obtain a gain of 7.9% for the day. YTD gain is now at 5.9%. Finally, back in the black!
AMRN, LRAD, TINY, CERS (100% invested/speculated)
My 2 cents.
Categories: Daily trading Journal