Weekly thought on $CARA, $DMRC, $IBIO

Did you ever have a moment when your little voice in your head told you to do something and you ignored it at your own peril?

Well, I had two of those moments this week in regards to $DMRC & $LEU.

Let’s start with $DMRC since it happened on Tuesday.  There was an attack on the price when $DMRC came into the week of the 2017 Big Retail show. Somehow, I allowed this event to dominate my thought process and ignored the price action which clearly was on the defensive at the get go.  In fact, I was so complacent with the price action that I ignored the sign when price took out the the low of last week @ $28.25. The little voice telling me to cut losses was unheeded and I was planning to sit tight to take the heat.

There, there, already I reversed back to my old pattern of thinking long-term potential of the stock amidst my primary objective of guerrilla trading tactics of taking profit and cutting losses quickly. If I’m to stay true to guerrilla trading tactics, I would have cut my losses as soon as price took out last week low of $28.25 and then looked to buy back at lower points. Perhaps I would save a buck or more in drawdown once I bought the stocks back at between $25 – $26 of getting out a bit above $28.  Of course, my ability to talk about saving a buck or so here is due to hindsight; but that is not an excuse to avoid following the correct rules of play under the guerrilla trading tactics.

Anyway, despite my cutting losses a little late (around $26), I eventually bought back the stocks under $26 to hold it over the weekend.  I feel that this stock trading below $26 is a steal.  I never thought price would trade back to this low when there are so much progresses in the making. I’m beginning to feel that I should not pay too much attention to the guerrilla trading tactic on this stock and simply begin to accumulate for the eventual uplift. I think once investors realize that there are no market crash after President Trump took office, price will bounce right back over $30 easily.  Chartwise, there is a long-term support at the uptrend line @ $25ish.


There are also the monthly 79 & 89 MA support lines atop the long-term uptrend line (see yellow circle).  To me, I’m expecting to see a bounce soon.

Regarding $LEU, there was a little voice telling me to take that large bids being offered at mid- $7 but I ignored it. Before long, price tanked below $7.  Eventually, I let go of the trade to cut losses when $CCJ tanked over 12% after announcing poor revenues guidance on Wednesday. Had I listened to my little voice, I would have reduced my losses quite a bit.

Lesson- next time my little voice says something, pay attention.

I traded $CARA out during the week and then bought back to hold for the weekend. I’m now at a point where I can’t afford not to hold $CARA when timeline of releasing trial results is coming closer.  If I want to make a bet, I have to place the bet. It would be a waste of my time trading $CARA if the trial result is released when I’ve no shares regardless of the verdict of the trial result. I definitely do not want to miss the big gap up on good result even at the risk of losing my money on bad result. Chartwise, there is a cup and handle breakout pattern being formed in the weekly chart:

cara_weeklyAt current price action, price is very close to complete the handle soon. A close above $12.83 will be considered a breakout. $23.61 will be the next major resistance from August 2015 high.

Of course, I’m still holding $IBIO. Not much happening over here except to sit on your porch chair with your feet up on the fence and your eyes closed so that you can visualize the future of healthcare with iBIO being a major part of it.  Watch the video again:

Well, due to my ignoring my little voices, my port suffered a minor drawdown from $LEU and $DMRC for the week.

Current positions:

Main port (no margin): IBIO   CARA  DMRC and 56% cash. (up 5.3% YTD)

Trading port (with margin): MENXF  IBIO  &  GRWG

My 2 cents

From my camera:



Categories: Daily trading Journal, trading journal

Tags: , , ,

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