Ok, while no bouncing today, we do have a doji bar right below the 89 MA support. Remember, a doji bar near support (a bit below still count on my book) has a better than 50/50 probability of a bounce. So, be expecting a bounce tomorrow. So far, after-hour SP500 is up 3.45 points; but again, it was up yesterday night too and how did that end up?
Notice the stochastic below is now in the oversold territory. This may add a bit more favorable odd to the prospect of a bounce tomorrow. Don’t hold your breath though.
What do you know, just when my port gained some traction yesterday, it gave back all gain plus some today.
$AMRN and $CERS charts looked almost identical in that prices dropped quite a bit after multiple days of running up. It is now testing my resolve to hold them. Nothing go straight up but it sure is hard to stomach the returning of profit.
$BIOC also came down but it bounced off the lower uptrend line nicely.
Since price is still above the uptrend line, the overall direction is still up.
$LRAD dropped a bit but is still within the consolidation range.
Price does need to climb back above the MA lines though.
Not surprisingly, my port gave back 3.3% for the day. YTD gain is now at 13.8%.
LRAD, AMRN, BIOC, CERS and 4% cash. (I forgot to mention that I added a bit more $BIOC today).
My 2 cents.
Categories: Daily trading Journal