Thursday thought on $DMRC, $AKAO, $IBIO, $BIOC, $AMRN, $ARTH

Bravo! Bravo!  The bull kicked a** today and totally destroyed the bearish engulfment bar that the bear mustered up yesterday.  Apparently the bear could not compete with the bull on bull territory.

SPY_Daily

However, there is the 2014 year-end closing price of $205.54 (the yellow line) as the resistance just a stone throw away.  The bull needs to climb above that and continues on; otherwise, the bear will take another shot at pushing it back down.

Unfortunately, none of my stocks in my port was able to partake in today big gain.  Despite a big up market day, the biotech  sector continued to struggle and that meant most of my positions suffered as well.  $DMRC was not what I expected in today action but then this is an “event” stock so the only way this stock will fly big time is when Walmart or other big retailers announces adoption of the Digimarc invisible watermark technology.

DMRC_daily

There is still a strong support at the $34.90 area where the 15MA about to cross the 89 MA.  With the earnings update next week, I expect price to bounce soon in anticipation of positive developments.

$AKAO bounced some but was still able to close green despite a biotech sell-off. In fact, $AKAO was the only stock that closed green in my port today.

AKAO_daily

Let’s see if price can form a base here.

$IBIO, being a biotech stock, also succumbed to selling pressure and broke below the uptrend line.

IBIO_daily

However, it is now at the $0.65 support.  Let’s see if this support can hold.

$BIOC closed lower but found support at the 79 MA.

BIOC_daily

Volume was low so this stock is basically waiting for news on positive development on more insurance coverage and the prostrate diagnostic test.

$AMRN also broke thru the $1.90 support but was able to bounce back to close at the $1.89 support formed on 09/30.

AMRN_daily

It is important that price bounces from here.  We should hear something soon about Amarin settlement with FDA.  Let’s see if there is a positive development here for a change.  Perhaps, price deterioration is due to general negative expectation from FDA settlement since the FDA has not been exactly on friendly term with Amarin for all these years.

$ARTH also fell back to the base support with no news on human trial.

ARTH_daily

There is nothing to do but wait, wait, and wait.

Since all my stocks are practically “event” based trades, I can only wait for the positive events to drive them.  Patience is the key here.

Current holdings:

Main port: DMRC, AKAO, IBIO, BIOC, AMRN  Trading port: ARTH

My 2 cents

From my camera:

Friday afternoon 007



Categories: Daily trading Journal

Tags: , , , , , ,

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