06-18-2015 Journal- $LRAD, $AMRN, $BIOC, $CERS

Whoa!  Look at that bird flies.  And flew away it did.

SPY_Daily

Yesterday doji turned out to be a “resting” bar.  With relatively higher volume, look like the bull is BACK.

$AMRN came back to neutral after an attempt to rally.  Perhaps, there were short-sellers looking for a repeat of the old days where each rally would fail thanks to the FDA’s beat-down.  But those old days were the past and recent developments such as Baker Brothers’ investment, China’s licensing deal, a win on the Federal court for five years NCE, 12,000+ weekly prescription numbers and two amicus curiae briefs by PhRMA and WLF in support of $AMRN First Amendment lawsuits against FDA all point to a changing climate in favor of Amarin.  The First Amendment lawsuit is a very big deal.  If the Federal court rules in favor for Amarin, watch out for price jump and accelerated growth in weekly script numbers.

AMRN_daily

So, sure I can handle the volatility created by the short-sellers. The reward is much bigger than the win the short-sellers can hope to get from this price level.

$BIOC is holding its ground.  I can see the stock is being accumulated at this level.  It reminds me of $CERS at the $4 level and I learned my lesson from it.  I’m not going to trade in-and-out of this position.

BIOC_daily

I bet price will begin to climb soon.

The support at $5.27 really hold for $CERS.  Price bounced back up and closed above the 5 MA line.

CERS_daily

So far, the 15 MA support is holding well and the bull is still in charge.

$LRAD bounced off near the previous low of $2.06.  Perhaps, the last of the weak hands had exited?

LRAD_daily

Let’s see if this one can bounce tomorrow.

Due to $LRAD further drawdown, my port gave back another 0.4% for the day.  YTD gain is now at 7.9%.

Current holdings:

LRAD, AMRN, BIOC, CERS and 4% cash.

My 2 cents.



Categories: Daily trading Journal

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