It was an ho-hum day. The bull seemed to run out of gas for the moment and so was the bear.
Price is still above the lower Pitchfork line as well as above the 79 & 89 MA lines. So, it is still bullish overall.
$NUGT gapped up and rallied a bit more before spending a lot of time at the $13.3x – $13.4x area. Seeing that the price was trading at the resistance level formed by the formidable 79 & 89 MA lines, I decided to sell my position to lock in profit for I know too well how quickly $NUGT can take back your unrealized gain.
Even by closing bell, $NUGT is still banging against the 79 & 89 resistances. If it can break out of that resistance, I may jump back in..
$UEC has another fantastic day. With all other uranium going up, $UEC went even higher. It is almost like a 3X ETF on uranium stock. Just look at $URA, a real uranium ETF with 3.48% gain for the day; meanwhile, $UEC gained 9.76%.
I like to see price takes out the $2.88 previous high resistance; otherwise, it may turn into a double-top resistance.
$DMRC also had a fantastic day. I guess Digimarc presentation at the B. Riley & Co. 16th Annual Investor Conference today wowed some investors.
Price is now trading at the upper line of the Pitchfork. The other added benefit of today rally is that price is now on top of the 79 & 89 MA lines.
$LEU is the only uranium stock I know that doesn’t go up today.
From the look of the chart, despite today down day, it still has a bullish framework around it. Everything seems to be pointing up.
$CERS had a minor correction today. I think it is a well-deserved rest.
Despite a down day, price is still trading on top of the 79 & 89 MA lines as well as 5 & 15 lines.
$LRAD inched ahead.
Price is still fall short of taking out the 79 & 89 MA resistance. It still has work to do.
Thanks to fantastic rallies from $UEC, $DMRC and $NUGT, gains more than offset the two losses to allow my port to gain back 1.5% for the day. YTD gain is now at 16.4%.
LRAD, CERS, LEU, UEC, DMRC and 9% cash.
My 2 cents.
Categories: Daily trading Journal