07-01-2014 Trading Journal

A fantastic July 1st rally is what we have today!

Price took out resistance that kept June in the consolidation range.  Does that mean the market is free to run from here.  We will soon see.

Again, no action on my part today but to witness my port gain some momentum as well.

$DMRC finally bounced from the magical 79 & 89 MA lines today.

Let’s see if the momentum can carry this one higher and take out the $37 resistance.  What $DMRC needs is news flash on retailer adoption on its Digimarc barcode.  I like to believe that news, good or bad, will come before the year is up.

$LRAD also bounced higher but volume was less than average.

Price rallied away from the 79 & 89 MA lines. If price can take out the recent high of $2.19 set in June 19th, the next stop is $2.24 resistance set in Jan 31st.

$AMRN corrected today due to a large sell order in the early afternoon.

The good thing is that price rallied back up to close at the 89 MA line.  As far as I’m concerned, $AMRN is still bullish despite today correction.  Notice that both 5 & 15 MA lines are pointing up as well.

$NMRX bounced today from yesterday doji.

Price closed at the 89 MA line; in other words, it is only a few steps to take out the 89 MA and rally from here.

Due to strong movements from $LRAD and $DMRC, my two largest position, my port gained 1.5% despite corrections from $AMRN, $KGJI, and $BIOS.  YTD gain is now 7.2%.

Current holdings:

LRAD, DMRC, AMRN, ORBC, KGJI, NMRX, BIOS (100% invested/speculated).

From my other account:

Still holding $FITX, $MCIG, $ENRT, $TWD.V.

The cannabis stocks are taking a nap; not much of a movement except when they roll off the bed which was what happened to $MCIG and $ENRT.

My 2 cents.

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Although the market was slightly negative, I considered it a neutral day.

The chart shows a small doji bar.  Since this doji is not sitting on a new high, I don’t see it as a potential island top doji reversal.  I see it as a possible pause before continuing on with the ongoing trend.

At this stage, I believe my basket of hi-beta stocks have settled into my port with not much trading activities going on.  Thus, my trading journal will be focused on analyzing the charts of current positions.

One position stood out today was the bounce of $AMRN.

Price finally broke through the resistance of $1.74 from May 2nd.  Unlike last Thursday where price broke thru the resistance but ended the day down; this time, price actually closed above the resistance line.  On top of that, price closed well above the 79 & 89 MA lines.  From here on, I see $2 the next resistance.

Giving recent scientific news regarding high triglycerides and cardiovascular disease, I can only see a continuing bullish trend for $AMRN. I also believe recent marketing campaign that utilized the screen personality of Rick Harrison from Pawn Stars will bring more awareness to the mass who otherwise do not even know Vascepa exists.  Now, they are going to call their doctors to inquire about this prescription grade fish oil that doesn’t increase your bad cholesterol LDL.  Another possibility is that the FDA may reconsider and reinstate the SPA with $AMRN for expanded labeling giving recent scientific studies.  If this happens, price will jump and I’m more than ready to welcome it.

The next stock that warrants attention is $BIOS.

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Price bounced and hit against resistance at $8.44 from June 11th.  Although it gave back some gain, a closer look at the chart reveals that today close is actually higher than all the closes of the last three weeks.  This is like the tiger has waken up and is only stretching its leg before getting up.  The way I see it, once the resistance of $8.44 is taken out, price is going to run…

Last Friday, I mentioned that $NMRX and $KGJI are on the watchlist.

$KGJI, at the least, bounced enough to touch the lower band of the consolidation range.

Giving today action, it is a relief to see a pause in the downward momentum.  Chart looks like there is a potential bounce from here.

$NMRX also closed in a positive note despite price took out Friday low during the day.

With a long-tailed doji, we may be looking at a bounce this week.

Thus, with both watchlist stocks bouncing some today, I didn’t have to take any action.

Despite a down day for $DMRC, my port still gained 0.5% thanks to $AMRN and $BIOS.  YTD gain is now 5.7%.

Current holdings:

LRAD, DMRC, AMRN, ORBC, KGJI, NMRX, BIOS (100% invested/speculated).

No activities from my other account:

My 2 cents.

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