After having its fill of grass, the bull simply trotted up the high point of the hill…
I believe the bear is in hibernation.
Today, I got “tricked” by $NUGT once again. Price opened lower but quickly gained momentum to rally hard. I then began buying and adding during the day after price broke out of the opening range. My position was in pretty good shape until the afternoon when price began a waterfall. My hard stop at intraday low was hit and I was out with a losses. Ouch!
$BAS opened a bit higher and I decided to build a position for the long-haul as long as my hard stop is not hit. Fortunately, $BAS did not trade lower like $NUGT did in the afternoon. It corrected from the day high but still managed to close positive for the day.
As you can see from the weekly chart above, price bouncing today means the 2013 low is holding the ground as support. This is the main reason I chose to buy in today to see if the 2013 support will hold. My hard stop is below $11.00.
$DMRC behaved like a yoyo this week. It was down from yesterday up.
It’s going to take a bit of time for its mobile payment solution to take traction. After rereading its technology and solution, I believe $DMRC’s mobile payment solution will help retailers of all sizes to participate in the mobile payment revolution. It is basically a turn-key mobile solution for anyone who want to offer this payment method.
$LRAD and $ORBC did a fantastic job coming back from a bearish attack. $LRAD closed slightly lower while $ORBC closed positive. I also sold $GALE for small losses ’cause price dropped after open. I bought it for the bounce and not to put up with the defensive posture.
Due to $DMRC correction and losses from $NUGT, my port gave back 1.4% today with YTD gain at 12.3%.
Current holdings:
LRAD, DMRC, ORBC, BAS and 8.2% cash.
From my other account:
$FITX again disappointed by gapping down right off the gate. Turned out that it is still having problem with the City of Lakeshore. Enough is enough, I sold to cut losses and moving on. I’m still keeping $MCIG for the long haul.
My 2 cents.
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