05-27-2015 Journal- $LRAD, $UEC, $CERS, $AKAO, $BIOC, $AMRN, $LEU

Whoa! This bull still has a lot of fight in it.  However, it still has some way to get back to the top.  Meanwhile, the bear is going to do what it can to create a 2nd lower pivot high. Now we watch.

DJ-30 daily

Today bounce stopped the bear momentum dead on its track.  Or was it the bear taking a breather after yesterday tough effort?  After all, it was no easy feat for the bear to push down the bull in the bull territory.

From the SP500 5m chart, it was a tricky opening. At first, it was as though the bear got back the ball after a positive start and price tanked. But after a few steps underwater, the bull woke up and dragged the bear out of the water into the sunny valley.  When I saw price bounced hard to the upside after the initial drop, I sold $TZA immediately to keep whatever profit I’d left.  Remember, I always give respect to any sudden powerful surge of price movement.

After selling $TZA I watched $UEC. Price was moving up.  This means the support is holding.  Without hesitation, I began buying more to size up my position. Based on my understanding of the fundamental, $UEC is one of the few (if not the only) uranium company that doesn’t get tied down by long-term contractual sales agreement.  This means that when uranium price increases, they can sell at higher market price.  This explain why $UEC is holding well while its other siblings which included $CCJ corrected harder.

UEC_daily

Today green bar can be classified as bullish engulfment candlestick bar.  The probability of bouncing higher from here is better with this kind of candlestick bar.

I opened a brand new position on $BIOC.  A company specializes in developing liquid biopsy to test for cancer cells from your blood.  This sure sound better than those long needle going into your body looking for a piece of your infected organ.

BIOC_daily

Price has been incubating on top of the 79 & 89 MA support for awhile now and today showed a bit of bouncing sign.  Notice that the Bollinger band has narrowed down as well.  This usually precedes a breakout one way or the other.  I’m betting on the upside.

I also bought back some $AMRN ’cause I expect the price to bounce off the 79 & 89 MAs soon.

AMRN_daily

The fact that price did not go down below the 79 & 89 MAs support during yesterday market sell-off tells me that support is very strong here.

$CERS was also doing good today.  In fact, before I bought $AMRN, I debated b/w adding more $CERS or buy $AMRN.  The latter won over ’cause I got to have some $AMRN before price takes off.

CERS_daily

$CERS finally bounced above the 79 & 89 MA resistance lines.  Now it needs to take out all recent previous highs to start a long-term bull trend.

$AKAO corrected a bit more today.  I took the opportunity to add a bit more.

AKAO_daily

Price bounced off the 5 MA line which was a good sign.

Both $LRAD and $LEU corrected a bit more today.

LRAD_daily

At least, $LRAD still stay inside the consolidation range and price is above the uptrend line.

Due to drawdowns from $LRAD, $LEU, and $AKAO, my port gave back another 0.8% for the day.  YTD gain is now at 12.6%.

Current holdings:

LRAD, UEC, CERS, AKAO, BIOC, AMRN, LEU and 15% cash.

My 2 cents.



Categories: Daily trading Journal

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