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

The revenge of the bear was what happened today.

SPY_Daily

The bull still has support from the 79 & 89 MA directly below.  It is important that the bull fight to stay on this support ’cause it is much easier to bounce off from here to make new high.

Return to neutral zone is the theme for my port today.  $LRAD continued to take away the gains I made the first half of the year and my port is now back to neutral zone.  I was simply way too optimistic on $LRAD landing that mass notifications sales to the Middle East cities.  Thinking about it, it’s been nearly a year since the CEO mentioned of the possible sales last August.  Without news on sales, the only catalyst left to keep $LRAD from falling further is the earning update in early August.  I’m going to cross my fingers that there are some surprise in the coming earnings report.  Otherwise, say hello to my mistress LRADie. Joking aside, I still like LRAD technology for the long-term hold.  I’d been with $LRAD since its early day and accumulated a large amount at around 50 cents in late 2008 when the market crashed. I’d sold and bought back $LRAD shares along the way so I’m actually sitting in good profit.  If you pull back and look at the monthly chart to review the long-term outlook, it really isn’t so bad at this point.

lrad_monthly

As you can see on the monthly chart above, price is now at the monthly 79 MA support line.  I think it is safe to say that it is important for price to start bouncing from this level to maintain the upward bias on the overall seven years trend.  If you look closely, you can see that price has a habit of making new high and then corrected quite significantly before making another new high.  What we are seeing now is that price is correcting significantly from the 3rd Higher-High.  I believe it is due for another rally soon. Yes, patience is the key here.

$AKAO did good today.  It is maintaining its station above the support waiting for the next run up.

AKAO_daily

Price closed above all MAs today.  You could just sense that price still wants to go up.

$BIOC continued to hold its ground by closing at $2.60.

BIOC_daily

There are still plenty of catalysts for $BIOC to bounce from here in the 3rd and 4th quarters; so I’m content to just sit and wait out the volatility.

$ONCY took a bit of a tumble with low volume.

ONCY_daily

Price is still within the flag pattern but a bounce is needed soon to maintain the possibility of a bull trend.

$AMRN took a bigger tumble probably due to the news that Watson Labs wants to take over the appealing process from the FDA for the NCE case.  Watson is supposed to be the generic manufacturers of Vascepa but due to the court overturning FDA denial of NCE, it has to wait more years before it can sell generic Vascepa.  Come on now, this is getting to be a circus show here. I read the Judge reasons for vacating the FDA denial of NCE and it is my 2 cents that there is no way anyone can win an appeal ’cause there were so many holes in the FDA arguments for the denial of NCE.  Glad I peeled off 2/3 of my position before so I think I may start to buy back some tomorrow to take advantage of the lower price.

AMRN_daily

Price is now approaching the 89 MA support.  I believe this support will hold.

$ARTH continued to bounce lightly after two days of corrections.

ARTH_daily

You get a sense that it is ready to make another run up soon just by looking at the daily chart above.

Today my port gave back another 1.1% which brought my YTD gain back to 0.50% which is practically neutral for the year.

Like I said before, I’m fine with the volatility of my portfolio and  I’m looking forward to see new development for the rest of the year.

Current holdings:

Main port: LRAD, BIOC, AKAO, ONCY, AMRN and 14.8% cash.  Trading port: ARTH (up 46%).

My 2 cents.



Categories: Daily trading Journal

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