Shall we give Greece a round of applause? Why? Hey, market was up and stayed up all day because of Greece. Yeah, but it was also because of Greece that market had a spasm… I thought that was China. And Greece… Can we go up now?
Price is now at the 79 MA resistance. Another up day will take care of the problem by turning resistance into support; but a down day can mean more headaches ahead.
Hey, guess what? My port bounced nicely today as well. Yay!
The hero of the day is, of course, $ONCY. It closed up near 26% for the day with no news. Perhaps, news is coming or that the big money had done buying at the bottom.
Just like that, today advance took out the 79 & 89 MA resistance. It regained the advance from last Monday after the release of good news. Let’s see if there will be more news to push this one further up. I’m expecting a $3 price target before the year is up.
The next hero is $AKAO. While not as strong as $ONCY, it had a decent rally of 7.3%.
Now it needs to take out the resistance of $6.93 from late May. I guess anything over $7 will do. Because today move was nothing like a one-day huge rally like the previous two attempts, I believe we will see gradual up movements in the coming weeks. The resistance will be broken soon enough.
$LRAD came third with a respectable 3.6% increase.
Price could not stay above the 15 MA but it was well ahead of the 5 MA. Come on now, give us some news!
$BIOC came forth with a standard fair of 1.5% increase.
Hey, I take it over a down day. I also like the fact that price is still within the symmetrical triangle. I believe it will rally hard one day just like $ONCY.
$AMRN had a neutral day. Who can blame it? It is now a sitting duck waiting for a binary event to happen- Judge decision on preliminary injunction. Unless, $AMRN has news on partnership, it may just be neutral for awhile.
It is good that price is still at the upper part of the symmetrical triangle.
Well, with four stocks up nicely, my port gained back a whopping 5.6% for the day. YTD gain is now at 8.1%.
LRAD, BIOC, AMRN, ONCY, AKAO and 5% cash.
Also, since $ARTH is now in the “anticipation” zone waiting for its human trial result for its revolutionary hemostat device, I’m going to post a chart here daily since I’ve decent size position on my other trading account.
While a bit of a down day after a nice run-up last Friday, the overall trend is now heading up.
My 2 cents.
Categories: Daily trading Journal