Wednesday thought on $DMRC, $IBIO, $BIOC, $RBY, $AKAO, $ARTH

The market is being skittish ahead of next week rate increase.  This is totally understandable ’cause everyone is looking at others to see what they are going to do and no one has a clue of what everyone else is going to do.  And the only thing that can unclog this logjam is to wait for the rate increase to become reality before market can take off to make new high.  Hopefully, the Fed knows what they are doing and will make an increase that the financial community can swallow without choking on it.SPY_Daily

For now, there are support at the 79 & 89 MA.  What is going to happen next will depend on the % increase in rate next week.

$DMRC formed a doji bar right at the up trendline support and that to me means a higher probability of a bounce coming.


There is also news released today that Digimarc Adds Global Brand Deployment Provider, Schawk, As Channel Partner, Facilitating Adoption of Digimarc Barcode by Consumer Brands.  This is further proof that the Digimarc infrastructure is expanding.  One only needs to ask oneself why would Global Brand Deployment Provider, Schawk is involved if they don’t see the future in Digimarc barcode?  It is happening.  The $DMRC shorts are going to be collateral casualty due to retailer sector pursuing new technologies such as the Digimarc barcode to move to the next level to compete with their online competitors.

$IBIO stayed neutral despite some selling in the day.  Without any news to backup the drop, recent selling might as well be tax loss selling.


As shown in the daily chart above, price finds support at the uptrend line.  I’m holding this until the fibrosis treatment therapy comes into fruition.

$BIOC continued to drop relentlessly.


My thought is this could be orchestrated by highly motivated short-sellers wanting Biocept to fail not from the superior science but from financial restraint due to lower price so that $TROV can gain a foothold in the liquid biopsy field.  Conspiracy theory aside, recent price action could be simply a combination of tax losses selling and short-sellers riding it down.  But all things can come to a halt and reverse violently when positive news come out.

Take a look at the $PACB chart below.  See the circle area which reflected drop in price below support which is similar to current $BIOC price drops from support.


See how price bounced higher persistently after $PACB announcement of a brand new product.  I expect $BIOC to follow the same playbook after it announces the availability of the prostate cancer test, the PDL-1 test, and the nationwide Blue Cross coverage.  In other words, the shorts are playing on thin ice…  Still holding long and strong.

$RBY bounced some today.


To me, it is only the beginning.  I will wait until it goes back to a buck and some.

$AKAO is consolidating in the mid-$5 range until release of top line result.

$ARTH gave way to some selling pressure probably due to tax losses selling.  Yeap, in this time of year, it is easy to blame it all on tax selling absent of news.


I’m waiting for human trial and that is all there is.  All price gyration here doesn’t mean squat to me.  The human trial and its positive conclusion will make everyone here weep for selling their shares.  To each his/her own is all I can say here.

Still holding long and strong in all my positions.

My 2 cents.

From my camera (click on photo to see image at 100%)




Categories: Daily trading Journal, trading journal

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