06-22-2015 Journal- $LRAD, $AMRN, $BIOC, $CERS

So there is hope for Greece to meet their creditors half-way and avoid a default.  In a way, the market has anticipated this eventual turn-around ’cause the alternative isn’t pretty for Greece to go on its own.  Market rallied but it wasn’t exactly a gang-buster rally.


What we have is another doji bar in the midst.  Is it a pause or a final gasp?  I guess we will see tomorrow.  However, afterhour is up 4.2 points right now for the SP500, so it may be a pause after all.

$AMRN is the hero of the day. Price spiked up gunning for the $2.52 resistance.


While it closed below it, let’s see if tomorrow is the day to break out of it.

$CERS is the second hero of the day.  Price broke out of its recent consolidation and is heading higher.


While it still falls short of taking out the $5.68 resistance, it is still a good rally to kick off the upward momentum.

$LRAD was neutral for the day thanks to Iroquois Capital delivered of letter to LRAD. Basically, the letter criticized management for not treating recent public events with a sense of urgency to bring their LRAD technology into the limelight.  Moreover, it criticized management for exercising the stock options and then sold it immediately thus sending a wrong message to the investors.  I’d to agree with this one since their selling instigated a sell-off that prompted price to break out of the $2.30 support to the downside.  The goal of stock buy-back is to support price and yet their self-interest action was in contradiction to this goal.  And where is the buy-back price anyway?  Iroquois also proposed a one-time big dividend pay-out to relieve some of the excessive cash LRAD is sitting on and to make shareholders happy.  Hey, I don’t mind that at all since I’m holding a pretty good size chunk on this one.


Unfortunately, there were still some pissed-off investors who sold shares to take advantage of the spike-up to bring price back to neutral for the day after a rally from the positive effect of the letter.  But overall, Iroquois filing of Schedule 13D to get more involved with LRAD management is a good sign as far as I’m concerned.  Perhaps, we have a double-bottom in the making here?

$BIOC continues to test my resolve and conviction on this stock by dropping some more to the 79 & 89 MA support lines.


However, all I’ve to do is to remind myself of $CERS at $4.  I believe the stock is being accumulated so I’m just going to let the 79 & 89 MA support do its work.

Thanks to rallies from $AMRN and $CERS, my port gained back 1.1% for the day.  YTD gain is now at 8.5%.

Current holdings:

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

My 2 cents.

Categories: Daily trading Journal

Tags: , , , ,

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