Oop, I was late in updating my journal; so I’ve the benefit of seeing that the general market has opened much higher for Wednesday pre-market. With a higher pre-market open, price has crossed back above the daily 79 & 89 MA line which is very bullish.
As long as the bull can maintain its gain for Wednesday, the market may end with a strong week.
Since I’m already seeing the Wednesday open, I’ll start with $BIOC which gapped higher due to a new diagnostic test for for Colorectal Cancer. As much as I like to sell at the open to lock in gain, I simply could not do it ’cause I’m very bullish with the concept of liquid biopsy. It is the future in cancer diagnostic test and I don’t want to engage in chasing it back up. The shorts will eventually get burned on this one.
Despite the red bar after the open, I believe the fundamental will eventually win out at the end. When institutions begin to see the validity of $BIOC, price will climb back up.
With the rest of the port holding well on Tuesday except for $ONCY, my port gained a small 0.2% for the day. YTD losses is now at 4.6% per Tuesday closing.
Main port: LRAD, AKAO, BIOC, DMRC, ONCY and 5.6% cash. Trading port: ARTH (up 45.2%)
My 2 cents.
Categories: Daily trading Journal