03-17-2015 Journal- $SWIR leading

Look like the 15 MA turned out to be a formidable resistance.  The DOW simply turned away from it and headed south.

DJ-30 daily

Fortunately, the 79 & 89 MA support lines are also very formidable as well.  Price bounced off the 79 MA and closed above it.

As anticipated from the big red bar yesterday, $AMRN corrected further down and stopped out the remaining 10% of my original position at $2.5x level.  I then looked for opportunity to buy back lower.  When price dropped to $2.30 level and started to bounce I was on my way to the office.  By the time I had access to my computer, price was already at $2.4x area.  I started to buy back shares and ended up holding 40% of my original position after the closing bell.

AMRN_daily

Price is now a bit below the Fib 38.2% retracement level.  It is hard to tell if price will continue southside or bounce back again tomorrow.  However, with so much recent positive developments, I’m more inclined to hold against further correction from here.  Since I’m now holding only 40% of original position size, I can afford to give this one a bit more breathing room.

$CERS corrected a bit but not enough to take out the 5 MA line below.  Volume was light.  I took the opportunity to add more $CERS today looking for a bounce.

CERS_daily

While price closed a bit lower, the current price pattern for the last five trading days is forming a bottom for an eventual bounce.

After finding out that $TINY only has 2.5% of D-Wave computer in its holding, I just don’t see why I need to hold on to a stock that is famous for turning your investment into dead money.  So I decided to cut my losses and moved on.

TINY_daily

When price dropped below the 79 & 89 MA support lines, I knew exactly that I had to cut losses asap.

I’ve been watching $SWIR ever since I gave it up for $ORBC (bad mistake in hindsight).  When price finally corrected to the point that it is now showing a double-bottom at $32 level, I decided it is time to get back in. With proceeds from sales of $TINY and $AMRN from yesterday, I built up a position on $SWIR during the day.

SWIR_daily

Price bounced off nicely for a double-bottom formation.  Let’s see if it will stick.

Lastly, $LRAD threw a monkey wrench into my port and gave it quite a dent.

LRAD_daily

Apparently, there seemed to be a large block of “pre-arranged” sales at $2.1x level.  I believe someone is running out of patience waiting for the Middle East cities sales of mass notification system.  Since I’m a hardcore believer in this stock, I’m still holding. Technically, the chart looks horrible for it practically gave back much of the gain made in August of last year.  The delaying of the Middle East sales originally projected to win in November of last year is now becoming a waiting pain.  Even my own patience is being tested.

Due to large drawdown from $LRAD, my port gave back 4.4% for the day.  YTD gain is now at 15%.

Current holdings:

CERS, LRAD, AMRN, SWIR and 1% cash. (Notice that $CERS is now my largest position after $LRAD unexpected correction).

My 2 cents.



Categories: Daily trading Journal

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