Finally, the market bounced nicely.
See how the price closed above the 79 & 89 MA lines? The chart looks good for a continuing bounce.
Today my port made a nice comeback.
$LRAD opened high and proceeded to reach the after hour of $2.46 high with high volume. But, as expected, profit-taking came in and dropped the price back down to a respectable 15% increase for the day.
From the weekly chart above, price closed at the previous resistance at $2.24 which was the high back at early February. If the general market continue to bounce next week, I don’t see why $LRAD will not follow with higher price. Any news on deals mentioned on the earnings conference call will cause price to spike up. I expect it to break out of previous high of $3.36 established in the week of August 1st, 2011.
Per the Q3 earnings conference call, there are numerous potential sizable deals on the tables that may become revenue in Q4 and beyond. Any news on any successful deal will take price to the next level. The larger the sales amount in the deal, the higher the price will go. Still holding long and strong.
Due to delay of FDA decision to mid-September, $AMRN did not jump. In fact, $AMRN traded down but recovered near the close.
I like the way $AMRN closed on the chart. A long tail with close at the 89 MA line. I can see a bounce coming here.
Although $HYGS was the only stock in my port that was down, the chart still looks strong.
See how price closed above the 5 MA line.
$ORBC closed strong with a bullish engulfment bar today.
I can see price bounce from here to $7 and beyond.
$DMRC and $STV continued to hold steady and leaned toward bouncing higher.
Thanks to the spectacular rally from $LRAD, my port was up 3.9% for the day with YTD gain now at 3.3%.
I’ve a good feeling that I may end the year strong provided there is no large market correction to intervene.
Current holdings:
LRAD, HYGS, DMRC, STV, AMRN, ORBC (100% invested/speculated)
From my other account:
I added more $INFN.
The daily chart above tells me that the probability of a break out is still above 50%.
My 2 cents.
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