Imagine you were sinking into the water, suddenly you saw a hand reached down to you from above, You felt yourself being pulled up. The face above the water began to get less fuzzy as you came to the surface. In a flash, you recognized the face. It was the face of Yellen! <gasp> So the market bounced back to recover some before closing. See how the price bounced off the downtrend line? With Yellen giving the market mouth-to-mouth resuscitation, the market is now highly motivated to rally just to get away from the kiss of Yellen!
Both $DMRC and $AKAO made a spectacular recovery after taking in water early in the day. Not only did $DMRC recovered but with relatively high volume as well. Something is going to happen soon and I believe the shorts are in big big trouble. Oh yeah, the updated short-interest came out and the shorts volume had increased by 81K shares in the last 15 days with a total of 1,146,828 shares or 17.3% of the float @ Sept 15. Even with increased short-interest in the last 30 days (a total of 348,217 shares or 43.6%), the shorts failed to push the stock lower. Giving the tiny float of $DMRC, if Walmart announces the adoption of the Digimarc barcode system, we will get to witness the mother-of-all short-squeeze event.
Without doubt, $BIOC is the hero of the day. Price took off and moved further away from the 79 & 89 MA which are now essentially the main support. There is still one hurdle $BIOC needs to overcome and it is the $2.74 resistance formed on Aug 5th. Giving the strength of its recent moves, $BIOC may simply walk over this resistance.
Both $ONCY and $ARTH continued to correct a bit but then they are both event driven stocks; thus current price actions don’t concern me much.
Main port: DMRC, AMRN, AKAO, ONCY, BIOC Trading port: ARTH
My 2 cents
Categories: Daily trading Journal