Wednesday thought on $AMRN, $DMRC, $AKAO, $BIOC

Let’s give the bull an applause for being able to stand up against the bear the whole day.  There were some moments during the day I thought the bear would simply pull the rug under the bull and pushed the market down like hot knife cutting real butter.  Instead the bull stood firm and closed the day on a high note.  But the bull still has a lot of work to do.  Today was a good start by stopping and reversing the downdraft momentum.  Now, it needs to turn the momentum back to the upside.

SPY_Daily

From the look of the daily chart, if the bull can continue to bounce tomorrow, it may be able to start the third wave of the five wave Elliott Theory pattern.  The third wave is usually the longest wave of the five waves.

$AMRN won the day by making the biggest gain in the port, a decent 9.4% gain.

AMRN_daily

Price now closed above the 79 & 89 MA support.  I’m wondering what brought on the strong rally today.  I’m curious if we are going to see a “surprised” increase in weekly script number this Friday.  Can’t wait to find out.  Remember, even if only 1% of the doctors became aware of the off-label benefit of Vascepa for patients with 199-499 trig level due to the publicity of the 1st Amendment win, that is still going to be a huge increase in script numbers compared to current level.  Amarin is now a pure fundamental long-term play here.  There is no point in trying to swing trade here ’cause the risk of missing a huge rally from surprise catalyst is huge.

$DMRC took home second best gain- 5.65%.

DMRC_daily

Price continued to rally away from the 79 & 89 MA support after the doji bar from last Wednesday.  Remember, doji bar at support = strong probability of a bounce.  I’m still waiting for the confirmation that Walmart is going to adopt the Digimarc barcode system.  If that ever come to light, you can expect to see a “$PCLN” type of long-term price movement.

Next in line is $AKAO with a respectable 4.15% gain.

AKAO_daily

Price now closed above $7.  Notice the 79 MA line below is now turning up signifying the beginning of a long-term upward move.

$BIOC was slightly down but if you look at the daily chart below, you can hardly notice that it is down.  The new development today was the discovery of a list of Form 4s from multiple insiders receiving employee stock options for the right to buy a collective total of 597,000 shares of common stocks.  Here is the kicker, the exercise price to buy is $2.01.

Hey folks! The insiders are NO BETTER than some (if not most) of the retail investors who bought $BIOC with an average price of $2 or less. And a BIG THANK YOU for the shorts who helped bring price down to the sub-$2 level for more retail investors to get in at the Insiders Option Exercise Price level.  Wow!  Suddenly I feel like an Insider!  Don’t worry about price running up too fast tomorrow for you to buy more $BIOC at the Insider’s price, the clueless shorts will be available to offer them to you probably at a bit higher than insider’s price.  But you better buy them quick while supply last ’cause not all short-sellers want to throw good money after bad. Remember, you are under no obligation to sell these shares back to the short-sellers when they realized the error of their way.  Hold on to your shares tight ‘less the short-sellers rip them off your hands.

BIOC_daily

The little spinning top red bar is at the 5 and 15 MA support.  I can see a bounce coming ’cause market is NOT going to let the retail investors to buy stock at the insiders’ exercising price. Thus, this aberration at $BIOC is not going to last.

Thanks to the top three performers today, my port gained back 3.6% for the day.

Current holdings:

Main port: AMRN, DMRC, AKAO, ONCY, BIOC and 5.1% cash.  Trading port: ARTH

My 2 cents



Categories: Daily trading Journal

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