Oh boy! Another lower spinning top to end the day. But the bear actually failed today ’cause they could not affect any major damage. Price is still above the 5 MA which is bullish.
I think it is time for the bull to get back up and start running up the hill soon.
$DMRC continued to drop a bit more but I believed today might as well be the last day the bear had the upper hand. Tomorrow afternoon after market closed, we will know more about the progress of the Digimarc barcode infrastructure build-up. We may have surprising update; if that is the case, expect a spike up from here. Today price actually bounced off two support levels- the Fib 50% retracement and the mid-Sept/mid-October low of $33.58.
I believe it is about time for $DMRC to start rally.
$AKAO found support at $5.30 and bounce some today.
With momentum indicators starting to turn back up, I believe a bounce is imminent.
$IBIO is stabilizing at support.
It’s a matter of time before the biotech world wakes up to the miracle of IBIO’s CFB03, a product for the treatment of idiopathic pulmonary fibrosis, systemic sclerosis, and other fibrotic diseases.
$BIOC dropped below the uptrend line but stopped at the Fib 61.8% retracement level.
Since this is an event play, it is possible I can wake up one morning with good news waiting. Patience is the key here.
$AMRN closed with a tiny spinning top red bar. You could tell the bear is pretty much run out of steam here.
A settlement with FDA is due by Friday (not counting Saturday the 31st); so I expect a bounce to take place b/w tomorrow and Friday.
$ARTH also dropped slightly.
Once the selling is cooled off, price will be back up above $0.22 in no time. But then it really doesn’t matter ’cause waiting for the human trial is the only thing that matter.
Needless to day, my port is taking in more water. Somehow, the water at my feet has a healthy cooling effect and I’m feeling quite comfortable and calm.
Main port: DMRC, AKAO, IBIO, BIOC, AMRN Trading port: ARTH
My 2 cents
From my camera (click on photo to see image at 100%)
Categories: Daily trading Journal