Following thru from yesterday spectacular recovery, market marched higher despite a wobbly beginning.
From the daily chart, you would think that the market barely survived the bear pull. Take a look at the weekly chart below:
Now, you can see the bull has always been in charge. Another weekly up bar.
Today four of my positions were up with two down.
$LRAD continued on its upward momentum after yesterday recovery as expected.
From the daily chart above, you could see that price is now about to break out of an ascending triangle with the long-term resistance of $3.36 as the ceiling.
$LRAD Weekly chart above shows that price has not wavered in its bullish momentum. Four weekly bar on the up and up. Fundamentally speaking, there are a lot of explosive revenues growth in the cards (from recent earnings transcript).
- Responded to an RFI from U.S. Coast Guard R&D Center
- U.S. Army put out an “updated” RFI for acoustic hailing devices (original RFI came out in 2010). Expected to see RFP in early 2015.
- The House has included acoustic hailing devices in the $2 billion budget for NGREA (National Guard Reserve Equipment) funding.
- Mass Notification: anticipating additional orders over the next couple of months (from August) for certain small cities working with the Japanese rep.
- Mass Notification: responded to two large RFPs for two large cities in the Middle East.
Any large order from the above will propel $LRAD to the next level.
$HYGS bounced off from the 89 MA line.
How many times have we seen prices bounce off from the 79 & 89 MA lines? They are magical since the bounces have happened almost all the times when prices traded near/at/around the 79 & 89 MA lines.
From the weekly chart above, the downdraft has stalled at the 38% Fibonacci retracement level. The possibility of reversing back to an uptrend is high from here.
While the daily chart of $CPST did not show much movement, the weekly chart below shows a cautious upward movement.
The weekly bar is now trading above the 5 MA line.
On the other hand, $ORBC weekly chart below showed a flat pattern this week.
Although flat, price is still trading above the 5 MA line which is good for developing a base to bounce from.
On the same token, while $AMRN daily chart showed little movement on the last three trading days, the weekly below shows that the bullish upward momentum is still fully intact.
See how the weekly green solid bar moved up from last week doji bar? Price is very close to breaking out of the $2 resistance. For those who only see $AMRN’s Vascepa as a “fish oil” pill that is not much different from the over-the-counter fish oil pill, you are missing the big picture by allowing your limited knowledge of the science to dictate your judgement and prejudice. While the almost pure EPA ingredient in Vascepa may not sound so fancy as compared to the “high” EPA content of the over-the-counter fish oil, the science behind in extracting the pure EPA in Vascepa is in an entirely different order from the science in extracting high EPA in over-the-counter part.
Personally, ever since I’ve started taking Vascepa from over a year ago, my body never feel the need to alert me of my cardio condition. Whereas before I started taking Vascepa, my body had more than multiple occasions alerted me of a possible cardio condition by exhibiting minor pain around my chest and arm. Could it be the placebo affect? I like to think it is the Vascepa that actually helps improve my cardio condition. IMHO, the Japanese Jellis study (that proved pure EPA could reduce cardio-event by 50%) the FDA conveniently ignored was not without its merit.
With Congress hearing requesting the FDA to explain the justification of rescinding $AMRN SPA agreement and the recent studies that people with genetic characteristic of low triglyceride exhibited lower cardio-event, I don’t see how FDA can keep on pounding $AMRN to oblivion in front of the limelight. All in all, I’m very bullish in $AMRN and is going to hold my position into the FDA decision.
$DMRC continued to struggle to stay relevant.
Due to lack of news, the shorts were having an easy time walking this one down. My position is bleeding but my believe in $DMRC disruptive Digimarc technology has not wavered. So I’m still holding.
Thanks to gain from $LRAD and $HYGS, my port gained back 2.3% today with YTD gain at 14.8%.
LRAD, HYGS, DMRC, AMRN, ORBC, CPST (100% invested/speculated)
From my other account:
$FITX ended the week higher than the last 12 weeks.
While there was a long tail at the upper-end of the weekly bar, it is still bullish to me. I believe Health Canada will approve the license.
To me, although the number of shares in the float is ridiculously high, $FITX is the only cannabis company that has a group of impressive scientists and board members on board. In other words, once the cannabis market really takes off with more legalized States in the cards, $FITX has a good chance of making it big.
My 2 cents.If you enjoy the content at iBankCoin, please follow us on Twitter