iBankCoin
Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

11-11-2014 Trading Journal

Somebody please whip the bull from behind. I think the bull is suffering from chronic fatigue symptom…

SPY_Daily

Let’s count our blessing that the bull is still heading up albeit as a snail pace.

There wasn’t much action from me today except to watch $DMRC and $ORBC climbing up the price ladder.

$DMRC continued to rally to form a nice handle for the cup & handle pattern.

DMRC_daily

The probability of breaking out of the cup & handle is pretty high at this point. Perhaps it may happen tomorrow.

$ORBC also rallied hard.

ORBC_daily

I like the fact that price is now on top of the 79 & 89 MA lines.  Let’s see if price can take out $7 this time around.

$LRAD was doing another soft landing to the 79 & 89 MA support lines.

LRAD_daily

There is really nothing to do but to wait for earnings update in late November.

$URA corrected ever so slightly with low volume.

ura_daily

I don’t blame it for need to take a break after two days of hard rally.

Again, $DMRC and $ORBC came to the rescue to save the day by making gains to offset $LRAD continuing drawdown; thus, my port was able to gain another 1.1% with YTD gain at 12.6%.

Current holdings:

LRAD, DMRC, ORBC, URA and 2.1% cash.

From my other account:

Yeap, I’m still holding $MCIG and is waiting for the spin-off shares for Vitacig.

My 2 cents.

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11-10-2014 Trading Journal

With no bear in sight, the bull trotted leisurely ahead…singing do re me…

SPY_Daily

Without a a high volume strong momentum up day, there is a danger of the bull drifting to a sleepwalk and walk off the cliff. But for now, it is still a bull market.

$NUGT opened lower and I was willing to give it a bit room to fluctuate but set a hard stop at breakeven just in case.  However, after seeing price took out the opening range to the downside and seeing week support and little bounce, I decided to sell quickly to lock in remaining gain instead of giving them back.  I was glad I did ’cause price went further down and took out Friday low.

$BAS started off with a bang to the upside and I thought I was in good shape.  But no, price began to fall apart.  I checked to see other oil related stocks and ETF and they all exhibited the same pattern.  Oop! Oil was under pressure again, so I cancelled my hard stop I placed in the morning and sold my entire position when price dropped below $12 support to lock in profit as well.  Again, good thing I did.

Meanwhile, $URA was heading higher and took out $14 resistance.  With the available cash from sale of $BAS, I added more $URA due to continued upward momentum.

ura_daily

From the daily chart above, you’ve to conclude it was a strong bullish chart.

$ORBC started to rally after the earnings conference call.  While in the middle of listening to it, I added 20% more $ORBC to round up my position size using cash from sales of $BAS.

ORBC_daily

The chart looks very bouncy after Friday drop.  With eleven more new state-of-the-art satellites to be launched soon plus the acquisition of Skywave Mobile Communication, the new $ORBC will be in a strong competitive advantage with the largest satellite-based M2M connectivity.  I can see them stealing more customers from other competitors in the years to come.

$DMRC bounced nicely today.  It is a much needed bounce to move away from the Fib 21.6% support.  If momentum can keep up this week, we may see it takes out $30 soon.

DMRC_daily

I like the fact that price took out the 5 MA line.

While $LRAD disappointed again without an up day, I’m betting that their coming earnings will be pleasantly surprised.  Their new “Loudest Long Range Acoustic Hailing Device for its size” from recent announcement may be getting good attention.

LRAD_daily

So for now, I’ll have to accept the lack of momentum on this stock.

With the gains from $DMRC and $ORBC but offset by $LRAD drawdown, my port gained back 1% today with YTD gain at 11.5%.

Current holdings:

LRAD, DMRC, ORBC, URA and 2.1% cash.

My 2 cents.

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11-07-2014 Trading Journal

Looking to the right, then left… nothing in sight, the bull then cautiously trotted onward.

SPY_Daily

Price continued to move higher; however, it needs to pick up speed soon or it may start to dip down.

Today was a correction day for my port. Except for the energy and gold, the rest was down.

I added more $NUGT when it took out yesterday high. Unfortunately, I was still recovering from Wednesday stop-out when I loaded up big; thus my position is only half of what I bet in Wednesday’s chip size..  In hindsight, I was one day too early in loading up.  Sometimes, suffering a bigger hit can affect your propensity to remain aggressive in the same stock.  Instead I diversified my cash to $URA to play safe.  Although $URA also bounced, it did not bounce as much as $NUGT.  But these are all hindsight talking, I should be happy that today price gain on $NUGT recovered the losses I took in Wednesday stop-out.  And I should be happy that I went back in despite multiple times of stopping out for small losses.

NUGT_daily

While the bounce is impressive, it has yet to prove that the bottom is in.  Although I like to load up “at the bottom”, sometimes you just have to take the gift of the momentum when you see one.

NUGT_weekly

The weekly $NUGT chart above shows the first weekly green bar after nine consecutive red bars.  I may add a bit more if price continues to advance.

$URA has an impressive bounce today.  I’m so glad I’ve decided to buy some yesterday.  Sometimes chart reading can help you get that “nudge” to move in.  The double-bottom setup was a tale-tell sign even though it wasn’t a guarantee, the odd is better than 50% a bounce can happen if the price did not drop the following day.  That was why I bought yesterday when it did not open down to negate the up day before. And when price opened higher today, it increased the odd of a continued bounce so I double-down after the open.

ura_daily

Weekly chart below:

URA_weekly

Both daily and weekly charts show a strong bounce.  As long as price does not take out recent low from here, I believe we are seeing the bottom in uranium.

$BAS also bounced but not as much as $URA.  However, I’m taking any bounce regardless of % gain since a continuing upward momentum is needed to change the trend back to up.

BAS_daily

At least the price closed above the 5 MA line which is a good positive sign.

BAS_weekly

The weekly chart, on the other hand, is not so encouraging.  The next weekly bar needs to take out the high of this week bar to confirm a good reversal bounce.  Nevertheless, the 2013 low is right below to act as support.

$DMRC spent the week consolidating around the low of Monday down day.

DMRC_daily

I take it as a good sign that price did not break below the 23.6% Fib retracement support (blue line).

DMRC_weekly

The weekly chart above simply shows a normal correction after three weeks of up bar.

$LRAD corrected a bit more today.

LRAD_weekly

While there wasn’t much of a follow-up to Tuesday big move day, the weekly bar above still shows a price increase from last week.  In other words, price is advancing slowly. I’ll take that anytime any day over a down week.

$ORBC was down ’cause the secondary offering is priced at $5.60.  Price has no choice but to follow-thru to find the equilibrium.  But it doesn’t need to stay there as I’ve learned the hard way from $CLDX which I got out after the offering and missed the spectacular rise from $7 to $20+.

ORBC_daily

I like the way price regained momentum to close near the high of the day.

ORBC_weekly

From the weekly chart above, I like the fact that price regained momentum to close above the 89 MA line.  I’m excited about the acquisition for I believe it will put $ORBC into strong competitive advantage over the long-run in the M2M sector.  I’m holding this one for long-haul.

Due to corrections from $LRAD, $DMRC, $ORBC and thanks to gains from $NUGT, $URA, and $BAS that helped cushion the losses, my port gave back 2.2% for the day with YTD gain now at 10.5%.

Current holdings:

LRAD, DMRC, ORBC, BAS, URA, NUGT and 3.8% cash.

From my other account:

$MCIG had a good week with this week bar higher than last week.

MCIG_weekly

I’m waiting for my dividend share of the spin-off for Vitasig.

My 2 cents.

 

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11-06-2014 Trading Journal

The bull continued to trot upward in a fine sunny day.

SPY_Daily

New high and you can see the uptrend has been staying on top of the 5 MA line all the way which signify a strong bullish tone.

Today, I bought $URA to look for a possible double-bottom on uranium play.

ura_daily

As you can see on the daily chart above, price bouncing yesterday set up a potential for a double-bottom from mid October.  Due to price not trading down in the morning, I decided to buy a starter position to see if this double-bottom can hold.

$BAS also bounced some more today which improves the odd of finding a bottom with the 2013 low as support.

BAS_daily

The blue line you see in the chart is the line of the 2013 low.  Let’s see if price can continue to climb from here. Yesterday, I forgot to mention that I got the idea of $BAS from Mr. Cain Thaler of the ibankcoin.com.  Mr. Thaler penned a post about $BAS and I like what I read; thus I chose $BAS as my bottom-picking oil play.

$DMRC continued to hold the ground at the 23.6% fib retracement level.

DMRC_daily

Today was a small range low volume day which is to me a day to rest a bit after a yoyo weak.

$LRAD continued to fight against weak and impatient traders while waiting for earning announcement.  From my quick search, last year November earnings reporting date was Nov. 21st; so we should be expecting the same time frame for this month earning report.

LRAD_daily

Price is still strong to stay above the 5 MA line.

$ORBC announced today that it is to acquire SkyWave Mobile Communications for $130 mln. and on the same day also announced a public offering of up to $72 million of its shares of common stock.  On top of that, earnings announcement will be on November 10th.

My only response is “Wow!”

I’m thrilled!  I don’t care how the market is going to react tomorrow but I’m excited about the prospect of $ORBC becoming the largest global space-based M2M communications company.

ORBC_daily

 

Since these announcement came in after hour, the chart above showed a neutral stance.  Tomorrow, we will see how the market react to this news.  It’s really a toss since you have a secondary offering against an acquisition.  I’m glad I chose $ORBC despite the fact that I gave up $SWIR to focus on this one.  We will see if $ORBC can regain what I’ve missed in $SWIR spectacular run.

I also bought back a small position on $NUGT when price opened higher.  Since it is a small position, I use a mental stop instead of a hard stop.  By closing bell, I’m still in.

Thanks to $LRAD bouncing back, my port was up slightly with a day gain of 0.4%,  YTD gain is now at 12.7%.

Current holdings:

LRAD, DMRC, ORBC, BAS, URA, NUGT, and 5.9% cash.

From my other account:

I’m so glad I sold $FITX yesterday to cut my losses; otherwise, I would suffer another 43.6% losses.  Meanwhile, $MCIG got approval to spin off Vitasig.  Yay!  I will be getting a 1 to 1 dividend shares on the spin-off.  My last positive result from a spin-off was the Parametric Sound Corporaton (formerly PAMT).  PAMT was a spinoff from $LRAD.  I know not all spinoffs are the same but I like the concept of Vitasig so I’m betting it will work out.

My 2 cents.

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11-05-2014 Trading Journal

After having its fill of grass, the bull simply trotted up the high point of the hill…

SPY_daily

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.

BAS_weekly

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.

DMRC_daily

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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11-04-2014 Trading Journal

The bull was actually meandering around eating grass… good grief!

SPY_Daily

But the good news is that price is still on top of the 5 MA line.

On the other hand, my port was having a great day!

$LRAD made a spectacular come back to approach $3. While price did not pass $3 yet, it may do so tomorrow.

LRAD_daily

From the daily chart, the up move today with higher than average volume could signify a potential explosion to the upside. This potential ballistic upside is very possible if $LRAD win one (or even both) of the orders from the two large Middle East cities for the mass notification systems.  Per previous earnings announcement, $LRAD is anticipating a response from one of the cities this month- November.

$DMRC gained back yesterday’s loss.

DMRC_daily

The green bar today put a reversal spin on the drops from the last two days.  If their mobile payment solution can get traction, this can go much higher.  Nevertheless, today bounce was also attributed to the upgrade by Cowen and Company.

I bought back $GALE after their earning report simply because their net revenues from the Abstral sublingual tablet had increased and I believe it would continue to increase thru out the year and beyond.

Gale_daily

Price bounced back above the 15 MA line.  If this bounce can hold, I’ll hold; if not, I may cut losses quickly.

$ORBC was basically neutral for the day.  I was also stopped out of $NUGT at breakeven after I set my hard stop to my entry point when price opened down.

Thanks to $LRAD and $DMRC rallies, my port gained 4.6% for the day with YTD gain at 13.7%.

Current holdings:

LRAD, DMRC, ORBC, GALE and 12.5% cash.

From my other account:

Both $FITX and $MCIG bounced today; so I’m doing ok here.

My 2 cents.

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11-03-2014 Trading Journal

Uh ohh… we’ve a doji candlestick right at the previous high resistance…

SPY_Daily

This week may set the tone for the upcoming market direction.  If price break down from here, it could mean a double-top at previous high and the bear may try to bring it back down.  If price makes new high, then the doji is just a pause for the continuing bull pattern.

Today I dumped $AMRN and bought back $NUGT for bottom-picking.  I sold $AMRN ’cause I was concerned about the lack of volume.  While Friday closed with a bullish engulfment, I noticed that it was a “weak” bullish engulfment due to relatively low volume.  And lack of volume in the morning ’cause me to think twice about holding this one thru earnings.  So I sold when the bids were there to take my sell orders.  I was lucky to get out at breakeven.

$NUGT opened higher so I decided to try again.  I bought when price started to rally some more after the open.  I was underwater not long afterward but I wanted to give this one more room to handle the volatility.  Later in the day, I was rewarded with my patience.

NUGT_daily

While you could see the bounce, it really is a weak bounce relative to the whole chart.  I’m wondering if I can hold on to the gain for today going into tomorrow.

$LRAD, $DMRC, and $ORBC all corrected today.  $DMRC announced their debut into mobile payment solution at the Money 20/20 conference which is actually happening now.  I’m thrilled to learn that their mobile solution is quite simple and intuitive.  Let’s see if their solution will gain traction down the line.

DMRC_daily

 

Today down day confirmed the bearish engulfment as a top for current correction.  However, this is still a normal correction as far as I’m concerned.

Although $LRAD and $ORBC corrected, price is still within the consolidation range that I considered as non-event.

With drawdown from $LRAD and $DMRC, my port gave back 1.8% with YTD gain at  9.1%.

Current holdings:

LRAD, DMRC, ORBC, NUGT and 12.7% cash.

From my other account:

Both $MCIG and $FITX bounced today; therefore, I’m in good shape here.

My 2 cents.

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10-31-2014 Trading Journal

Boom!  Just like that, the bull was standing by the previous high… almost touching it.

SPY_Daily

From the weekly chart below, you can see that it took four weeks for the bear to bring it down to the 79 & 89 MA lines area; yet it took the bull only two weeks to get back up to near previous high.  Who is in charge?

SPY_Weekly

The bull!

$NUGT gapped down from yesterday big dump which seemed to me was overdone.  So I decided to play the catch-the-falling-knife once more time by buying the opening range breakout.  I was looking for a possible island reversal bottom formation.  In mid-day when price began to rally again after dipping back below opening range, I added some more.  However, when closing bell was approaching, price began to sell off.  Giving this bearish closing momentum, I decided against holding over the weekend and sold out my position for small losses.

I also bought back $AMRN when the weekly script number went back to 9,4xx.  Last week it dipped down to 9,2xx from 9,4xx so it wasn’t very encouraging which probably explained the price drop.  But with script # going back up, there is a possibility of reaching 10,000 script in a couple of weeks.  I could see that I wasn’t the only one buying back in.

AMRN_daily

Price showed a bullish engulfment candlestick bar today so let’s see if it signifies a bottom here.

$DMRC finally corrected today which was a well-deserved one since price had been climbing non-stop the whole week.

DMRC_daily

However, I’m not crazy about the bearish engulfment bar today from the daily chart above.  But then, a bearish engulfment bar has to be confirmed next week by making lower low.  We will see if that is the case.  On the other hand, the weekly chart below shows a bit more bullish tone overall.

DMRC_weekly

Take a look at the third week up bar in January. It also had a long tail on the top; however, price continued higher in the four week.  Will $DMRC repeat the same pattern next week?  We will see.

$ORBC had a good day as well as a good week.

Daily chart below:

ORBC_daily

Weekly chart below:

ORBC_weekly

Price closed above $6 for the week after struggling all week to climb out of $5ish.  The weekly chart showed a successful basing on top of the 79 & 89 MA lines.  I think price is ready to rally from here.  Of course, it will be relying on catalyst from the upcoming earning report.

$LRAD spent all week being neutral.

LRAD_weekly

So, I wasn’t surprised the week ended in a doji bar as you can see in the weekly chart above.  It is also depending on upcoming earning announcement to determine future direction.

I sold $STV today for small losses due to its inability to bounce in a bullish day.  I bought it for the bounce and I would not want to hold if it could not bounce.  This was purely a trading position so conviction played no part in my wanting to hold.

Due to correction from $DMRC, my port gave back 0.2% today.  YTD gain is now at 10.9%.

Current holdings:

LRAD, DMRC, ORBC, AMRN and 7.9% cash.

From my other account:

I bought back some $FITX today looking for a bounce.  $MCIG also rallied some today so the bounce is happening.

MCIG_daily

FITX_daily

Both $FITX and $MCIG charts look bouncy from here.

My 2 cents.

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10-30-2014 Trading Journal

After an initial dip into the water, the bull marched back up the hill with the hill top within sight.

SPY_Daily

The uptrend is quite convincing at this point.  Price is approaching the recent high and we may even make new high next week if the momentum continues.

I made a new trade today by adding $STV with a starter position to my port..  I’m expecting a rally from here to mid-Nov before earning report.

STV_daily

Price “tried” to rally but frizzled out.  Since it is still supported by the 89 MA line, I like to see it rally next week.

$DMRC continued to impress by closing positive again.

DMRC_daily

I see more positive development going into November.  Digimarc will be showing their Mobile Payment Solution at the Money 20/20 Conference in Las Vegas next week.  Let’s see if they can make a splash with their technology.  Any positive acceptance to their mobile solution will add another major revenue stream alongside their Digimarc barcode system.  This will create a significant upside in price movement for $DMRC.  Of course, there are a lot of “IF” here and there.  But I’ve my chips on the table for the bet.

$LRAD did not partake into today general market rally.  It corrected a bit instead.

LRAD_daily

There is really nothing to do but wait for earning report and news on the Middle East mass notification sales.

$ORBC had an impressive come back after an initial drop at the open.  Due to my strong conviction, the morning drop did not faze me.  I wished I could say the same for $GALE which obviously rallied on after shaking me out.

ORBC_daily

Price has now reached back to the 79 & 89 MA lines.  Perhaps tomorrow or next week, it will rally on ahead to $7.

Due to $LRAD correction, gains from $DMRC and $ORBC were reduced to only 0.4% for the day.  YTD gain is now at 11.1%.

Current holdings:

LRAD, DMRC, ORBC, STV and 13% cash.

From my other account:

$MCIG finally bounced today as I’d expected.

MCIG_daily

I like to see price bounces from here.

My 2 cents.

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10-29-2014 Trading Journal

The bull had a bad hiccup but recovered later in the day.

SPY_Daily

Price bounced off the 5 MA line and closed only a bit lower than yesterday which is actually a good sign considered that there would be no more QE.

Today, I was literally shaken off my position on $GALE.  Seeing price fell off all of a sudden to low $2 from $2.07, I started to unload my position ’cause I didn’t have a lot of conviction on this one.  I also began to see the recent bounce as a possible ABC correction pattern if the breakout to the upside didn’t work out.  Seeing that Monday is the earning day, I decided it was too risky to hold at this point.  As usual, after I was out, price jumped right back up and even closed higher for the day.  This is what happen when you don’t have conviction on a stock.  With the conviction I’ve for $LRAD, $DMRC, and $ORBC, the short-term trading volatility does not faze me at all.  One way to explain it is that my conviction has grown root into my mindset such that it is as strong as a tree with root in the ground.

$AMRN is like a tree that has been blown off the ground by tornado so many times that it no longer has strong root.  Thus, any slight disagreement with the price direction can trigger my mental stop loss quite easily.  With price dropped to near 0.9 even, I unloaded $AMRN to take small losses.

$NUGT was a no brainer in cutting losses when price dropped like a rock after spiking up to $19.4x. I cut my losses when I realized $18 was not going to hold.

$DMRC showed strength when it was able to counter the sell off to close higher for the day.

DMRC_daily

In its subtle way, it actually had a higher high and a higher low for the day.

$LRAD had a slightly lower closing.

LRAD_daily

Nevertheless, price is still above the 5 MA line.

Due to losses from $AMRN, $NUGT, and $GALE, my port gave back 0.7% today with YTD gain at 10.7%.

Current holdings:

LRAD, DMRC, ORBC and 15.6% cash.

From my other account:

I’m still holding $MCIG despite another smaller drop today.

MCIG_daily

From the chart, It may bounce from here due to a smaller range day and lower volume.

My 2 cents.

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