It’s a good start that the bear could no longer push the market down any further. A couple more days of stalemate and the bull can gather strength to move back up.
Last Thursday, $DMRC announced that Global Health Care Supplier Perrigo Adopts Digimarc Barcode. Today, Innovative Regional Grocer New Seasons joins the party as well. Already, Digimarc has the support of the health care supplier and a leading grocery chain; and this is before we hear from the big box retailers. If you don’t mind me using a metaphor here- imagine you were in the battlefield waiting for your allies to meet you at the rendezvous point. You heard the marching footsteps but could not see pass the hill. Then you saw the cavalrymen galloping over the hill (Perrigo). After them, you saw the light infantry of spearmen (New Seasons). But you could still hear the loud rumbling of a heavy infantry behind the hill that you could not see yet. Basically, we are seeing the tip of the iceberg is my take of it.
$IBIO, $BIOC, and $ARTH were down today thanks to across-the-board biotech correction. So, I’m not worried about them.
But the big elephant today is Rubicon Updates of the Mineral Resource Statement for the Phoenix Gold Project which showed the land has less gold than they thought. Boom! $RBY crashed back down to below 4 cents once again. Fortunately, my position in $RBY is relatively small in size compared to my other positions; thus the losses is within an acceptable range giving the nature of the risk. I’m going to watch the price action in the next few days before deciding what to do with my position in $RBY.
Such is the nature of speculation, you can’t be right all the times; but I know that any one of my other positions has the potential to spark a strong rally with good news that can carry my port to new high. In other words, one “small” down with four more chances to go.
My 2 cents.
From my camera (click on image to see 100%)