The market decided to start June with an up day despite the pressure from the Bear to bring it back down.
I said the bull won the battle today once again.
While the bull won the SP500, my port lost the battle today.
$DMRC took a hit again which I’ve no choice but to stick with the drawdown. I’m holding $DMRC for the event play.
What event?
Well, I’m waiting for $DMRC to announce some retailers’ adoption of the Digimarc UPC code format. While I don’t know if the new format will be adopted at all, all I know is that I’m betting that it will. While I stand to lose quite a bit of dough if it is not adopted, the reward of being adopted will be mind-blowing.
It was a good thing $LRAD closed back at neutral after being down all day; otherwise, my port would have taken a much bigger hit.
I also sold $AMRN to cut losses in the morning when price failed to hold above $1.40.
Due to correction from $DMRC, $KGJI and $AMRN, my port gave back 1.1%. YTD gain is now 4%.
Current holdings:
LRAD, DMRC, BIOS, KGJI, SEED and 20% cash.
From my other account:
$NVLX bounced back up today.
I like the fact that the 5 MA line is hooking back up. Momentum indicators at the bottom are also coming back up from below.
My 2 cents.
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