My thought on $LRAD, $BIOC, $ONCY, $AKAO, $AMRN, $ARTH

What we have here is a reluctant bear. Or a bull that is not ready to give up yet. As much as the pressure the bear put on the bull today, the bull just wouldn’t give up.  In fact, in the last five minutes before closing bell, the bull just bounced violently back up with high volume.  I believe I saw a couple of bears with whiplash injury on their necks.

SPY_Daily

If the bull can climb back above the purple uptrend line by end of the week, I think it will be in good shape.

Except for $BIOC, all my other positions were taking in a bit of water today.

First of all, I sold my $SWIR not long after market open to cut losses on my position.  With $AAPL, the bellwether of tech stock being down, it was not the time to hold tech stocks. Therefore, I elected to sell it earlier before it took out the lows of two days ago.  Good thing I did otherwise I would have taken more losses.

$AKAO slipped a bit but the overall pattern is still solidly firm above the support.

AKAO_daily

Although a red bar for the day, it is still a bar with a higher-high and a higher-low.

As predicted yesterday, $AMRN could not hold on to yesterday last hour recovery.  There just simply isn’t enough volume on this one while everyone is waiting for the judge to decide on the preliminary injunction.

AMRN_daily

The good news is that price is still above the 79 & 89 MA support lines.

While $ONCY was down for the day, it is still within the flag pattern.

ONCY_daily

Price bounced off the 15 MA line which was a good sign.

$LRAD continued to head lower and is now testing the support at $1.84.  This one has been one frustrating stock to hold. And it all started with the insiders exercising their options and immediately dumped it at the market.  I should have recognized the “message” that the insiders gave us as a warning sign.  Instead, I tried to justify their action due to their option “expiration date”.  When an insider dumped the stock immediately after exercising the option, he/she was telling us that the near term prospect was uncertain.  Oh well, hindsight retrospect is only good for learning a lesson.  Note to self- next time an insider dumps the stock immediately after exercising options, lighten up the position “immediately” as well. Despite the lesson learn, I’m still bullish on $LRAD for long-term hold.

LRAD_daily

Let’s see if it can bounce tomorrow.

$BIOC did a great job by bouncing back to neutral to close after being under water most of the day.

BIOC_daily

But when you look at the daily chart above, today range was actually insignificant.  In other words, price is now stabilizing before the next bounce up.

$ARTH finally bounced back up after two days of correction.  Notice that the volume was decreasing in the last three days. This reflected that the selling were drying up and it only took little buying today to bring the price back up.

ARTH_daily

By the look of the daily chart above, it seems that price is ready to continue on with the rally.

Due to most of the stocks taking in water today, my main port gave back another 2.2% for the day.  YTD gain is now at 1.6%.  Again, I’m not too worried about my positions at the moment ’cause I believe there are enough catalysts in the second half of the year to spike up the stocks in my port.  I’m actually very excited and is looking forward to see how my port fair in the next five months.

Current holdings:

Main port: LRAD, BIOC, ONCY, AKAO, AMRN and 14.6% cash. Trading port: ARTH (up 42%)

My 2 cents.



Categories: Daily trading Journal

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