Way to go! Today rally confirmed last week spinning top weekly bar as a resting bar instead of a topping formation bar.
Price is now within a stone throw from the downtrend line that started from June of this year. A breakout of that downtrend line to the upside will bring the bull back to 100% bull territory. Based on current momentum, my take is that the probability of making a new high before year-end is better than 50/50.
$DMRC bounced off the long-term uptrend support line today. I wish I have more fund to add to my already over-weighted position size. The long lost “a” battle to the bear last week, but there are many more battles to fight as Digimarc continues to build out its infrastructure. Despite last week setback, the war is far from over. This is not about a war b/w Digimarc and the short-sellers, this is a war b/w the brick & mortar retailers and the online behemoths such as Amazon.com, ebay.com, Alibaba, etc.. To even the playing field, brick & mortar retailers need to take efficiency to the next level (Walmart’s motto: fast and easy) so that consumers will prefer the convenience of shopping from their nearby brick & mortar retailers than on online. Don’t you get tired of waiting for UPS or USPS? To get there, new technologies must be tested and utilized. And I believe that Digimarc offers an ideal technology for the brick & mortar retailers to build a gateway to bring the consumers back to its stores.
Meanwhile, to build a strong case for moving forward with the technological improvement, proof-of-concept testing period is required in order to validate the promise of efficiency. And once validated, groundwork/blueprint needs to be prepared for the restructuring of the brick & mortar retail operation to accommodate the new technologies. Needless to say, this process is time-consuming. Unfortunately, while waiting, the dynamic of the stock price is subjected to the stronger of the buying or selling force.
But the “waiting” is only a temporary condition that will eventually give way to the actual implementation of the new technologies that brick & mortar retailers desperately needed to win consumers back. It is my opinion that the Digimarc solution offers a bridge for the brick & mortar retailers to reach out to the consumers the way online shoppers are doing now. By doing so, it even the playing field and yet offer the advantage of having a nearby stores for consumers to come by and pick up the merchandises “fast and easy”.
In summary, the short-sellers (aka non-believers) may have won the battle, but it’s going to lose the war. In another manner of speaking, the brick & mortar retailers are preparing for a D-day invasion against the online behemoths. Can you imagine this war without the Digimarc solution being part of the brick & mortar arsenal?
I’m more excited for the future despite the temporary setback.
Right on cue, price bounced off the uptrend line. With a huge short-interest in place, any news of upcoming war effort can easily rip price skyward as quick as last week momentum.
$AKAO made a slight move upward while $IBIO corrected a bit more; both did not move enough to change the current chart status, so I won’t pull up charts.
Meanwhile, $BIOC did great today with a solid bounce.
Price is now within easy reach to get above the 79 & 89 resistances. All eyes are on the coming earnings update on Nov. 5th.
$AMRN also bounced nicely which moved price further away from support.
Earning update this Wednesday will shed more light on the ongoing FDA settlement. Any positive progress can restore price back to $2.5x and higher.
$ARTH continued to hold its ground above $0.20 while waiting on news of human trial.
My port gained back some today.
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