Today market action reminded me of the female dancer jumping on her little feet coming toward you and then spinning away with a body message that says, “Hey, I’m going… you gonna miss me?” then a little more spinning that moved her back to you, “Hi, I’m back!”
Although a short up bar, it was full of teasing in between. The bull won the day which is a good thing.
$DMRC continued to charge ahead trying to make up for lost time.
So far, it had crossed over the 5 and 15 MAs. Next objective is to take out the 79 & 89 MA and turns them into support. Based on hearsay (meaning believe at your own peril), Walmart is supposedly to have an annual meeting with investors and analysts later this month to go over future planning. Will they mention Digimarc? Will there be an announcement? Giving the fact that Digimarc barcode has been around a year or two, isn’t it about time that these “lab tests” to verify proof-of-concept be concluded with a full report to be digested into a final “yes or no” by top management?
I’ve a funny feeling that we may hear something real soon. The suspense is a real killer especially for the 17% short-interest. Imagined the surprise of the shorts when Tesla announced their first breakout sales quarter for their Model S electric car. Price had gone from low $50ish to over $200 inside a year. My feeling is that an announcement of Walmart adoption will have a similar effect on $DMRC as Tesla’s first breakout sales quarter had on $TSLA.
“Hey shorts! Are you aware you are standing in the quicksand?”
$AKAO bounced back nicely today which is no surprise to me since this is a very highly volatile stock.
Today up bar allowed the current bounce to maintain the bullish momentum. The recent steep uptrend remains intact.
$ONCY did not bounce higher but did a good job maintaining the altitude.
At least, the high of yesterday bar was taken out.
$BIOC continued higher.
Good news is that price has taken out the 79 & 89 MA. This is definitely a good start. The tough news is that price needs to continue higher to avoid falling back below the 79 & 89 MA resistance.
$ARTH also bounced after a couple of days of going nowhere.
It could be any day now. One day I’ll simply wake up to the news that human trial has started. Now, wouldn’t that be something!
$AMRN was down a bit.
Price needs to bounce tomorrow to avoid looking like a drooping plant. Now, get back up above the 5 MA!
My port continued to bounce back as well.
Main port; DMRC, AMRN, AKAO, ONCY, BIOC Trading port: ARTH
My 2 cents
From my camera (click on photo for enlarged version):
Bird of Paradise
Categories: Daily trading Journal