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.

SPY_Daily

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.

LRAD_daily

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.

BIOC_daily

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.

DMRC_daily

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.

ONCY_daily

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.

AKAO_daily

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.

AMRN_daily

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.

ARTH_daily

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

Tags: , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: