Unless it is now a two steps down and three steps up pattern, the DOW may just be going thru another temporary correction.
While down, the trend is still up based on the fact that today down day is still above the current short-term steeper uptrend line.
Today is a good day for my port. All four stocks closed in positive territory.
$AMRN green bar today bounced off perfectly off the Andrew Pitchfork upper trendline. It is a beautiful bullish pattern supported by some underlying force.
There is a favorable odd that price will continue higher tomorrow. Sometimes the fundamental development works secretly with the technical chart patterns in ways that are still mystery to me. Perhaps, there will be positive news tomorrow that further supports the continuation of uptrend as projected by today chart pattern. We will see if that is the case here tomorrow.
$CERS also bounced some today. While it was not much of a bounce, any bounce is a sign that there is a bull simmering in the undercurrent waiting to explode upward like a volcano eruption.
Look like the last seven trading days is turning into a mini-consolidation range of $4 to $4.50. And the good thing is that there are higher lows starting from March 13th low.
By bouncing today, $SWIR is confirming its trading range of $33.80 and $35.00.
Today price action added to the favorable odd that price will stay in the consolidation range if not breaking out to the upside tomorrow.
$LRAD continued to hold its ground despite early attempt to bring it down.
Like the other three stocks, news is needed to take this one back up to $3+ area.
Thanks to all four stocks closed positively, my port gained back 1.7% today. YTD gain is now at 19.4%.
LRAD, CERS, AMRN, SWIR (100% invested/speculated).
My 2 cents.
Categories: Daily trading Journal