06-04-2015 Journal- $LRAD, $AMRN, $BIOC, $CERS

I knew it!  The bull couldn’t hold on and it let go of its grip… four legs striking empty air as its body turned to face the sky… always a nice view when falling (preferably sunny day of course)… but the fall was stopped short by the 79 MA support.  The bounce was slight since the bull was quite heavy.

SPY_Daily

With the $SPY chart above, there is strong support with the 79 and then the 89 MA support lines.  If the bull wants to stay in the garden this summer, it better stay on to these supports and not fall below it.

Well, my port was not immune this time.  All four stocks took a hit.

I believe I’ve settled down on my current four stocks looking for fireworks on each one of them.  I added the final batch to $BIOC today to round up position size.  Now, I wait.

$LRAD:

LRAD_daily

$LRAD was back inside the consolidation range.  This one is pure fundamental play. The chart doesn’t matter at this point, at least, to me; but I still like to observe the development anyway.  Here is a famous quote from Warren Buffet that applies to $LRAD:

“With a wonderful business, you can figure out what will happen; you can’t figure out when it will happen. You don’t want to focus on when, you want to focus on what. If you’re right about what, you don’t have to worry about when”

When I think about it, the quote above applies to the stocks below as well.

$AMRN:

AMRN_daily

From the chart above, take a closer look and you can see a handle being formed here for a possible cup & handle breakout.  I’m quite excited about the future prospect of $AMRN.  After years of being beaten down, I believe it is finally rising from the ashes to claim back its space in the biotech world. It reminds me of the movie Kill Bill where $AMRN is Uma Thurman. Remember the scene where she punched a hole thru the buried coffin and climbed back out to the surface?

$BIOC:

BIOC_daily

While price is still debating which way to break out of its symmetrical triangle, I realize that this is a stock to hold on to regardless of which way the breakout will happen in the current short-term perspective.  The future prospect of liquid biopsy is so compelling and futuristic that I’m going to sit on this one and ride out the waves.

$CERS:

CERS_daily

I guess it is possible that the current pattern is actually forming a cup & handle now instead of at the $5.7x I postulated.  Price actually filled the gap from in early March.  As time moves forward, $CERS stands to benefit from the eventual release of FDA guideline on prevention of blood contamination.  So, I expect price to continue to climb from here.

As expected, my port corrected along with the fallen bull and gave back 2.7% for the day.  YTD gain is now at 15%.

Current holdings:

LRAD, AMRN, BIOC, CERS and 5% cash.

My 2 cents.



Categories: Daily trading Journal

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