My Monday thought on $LRAD, $AKAO, $BIOC, $DMRC, $ONCY, $ARTH

While it was a down day on a Monday, not a good way to start the week, price did fight its way back up to recover much of the day losses.


It was good that price closed above the 89 MA line.  This gives the bull a leg up in climbing back up above the 79 MA tomorrow.

Today, my port was stung by a mosquito bite.  Yes, a mere 6,000 shares in the last 30 minutes dropped $LRAD by 10 cents to bring my port down quite a bit since $LRAD is still my largest position in the port.


Thus, I’m not too worried about today price action which fell into the “noise” category.  The most important event is the coming earning update this Thursday.

$BIOC gave back gain made last Friday.


Price is now basing in the $2.3x area with support at $2.22 below.

$DMRC gave back some gain from Friday so I took the opportunity to add more shares using proceed from sales of $AMRN. As much as I wanted $DMRC to fall back down to below $30 so I can buy back cheaper, I realized price may not go back there anymore giving the momentum Digimarc barcode is gaining per recent earning update.  Thus, I decided to buy some now today when there a small correction kicked in.  Today is an inside bar day which is pretty much an indecisive day per my perspective.


One look at the chart and you can see that $37 is a very strong support.

$ONCY tried to go up but settled back down to neutral which was still a good day considering the general market.


If price can stabilize here, then there is support in the 60 cents area.  A rally from here may kick off the 3rd Elliott Wave which is usually the longest wave of the five waves Elliott Wave pattern.

$AKAO continued to hold its ground waiting for lift-off.


Notice that the 89 MA line is now flatten and may start to curve up.

$AMRN dropped below the 79 & 89 MA today which confirmed that the resistance were quite strong.  Thus, I decided to sell the position to take small losses so I could buy more $DMRC.  Basically, I’m shifting my allocation to another tech company since I still have three biotech positions- $AKAO, $BIOC, and $ONCY.


Even though price bounced back some before closing, another down day tomorrow may kick off a continuing downtrend momentum.

$ARTH continued to hold its ground with a narrow range bar.


I considered today a strong day giving that there were not much selling to take price lower.  Recent price action suggested that there were no benefit in trading $ARTH for penny move.  It is hard to buy back your position without chasing it back up which essentially negate the short-term profit you might have made.  I’m holding this one for long-term appreciation.

Due to the “noise” from $LRAD, my port took a temporary tumble of 1.9% for the day.  YTD losses is now at 4.8%.

Current holdings:

Main port: LRAD, AKAO, BIOC, DMRC, ONCY and 5.8% cash.  Trading port: ARTH (up 46.4%).

My 2 cents.

Categories: Daily trading Journal

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