It is inevitable that the market will try to correct after so many up days.
The $SPY started the day higher but then succumbed to profit-taking. However, by closing bell, market recovered to close at breakeven. It was quite an impressive feat considered how long the tail was on today candlestick bar on the chart.
Nothing go straight up; thus I expected correction to my recent fast-tracked increase of my port.
$LRAD gave back 5.5% after five days of higher prices which wasn’t so bad considering.
Price is now settled at the upper-trendline of the Andrew’s pitchfok pattern. News of new order from US Coast Guard or the Middle East mass notification city installation will propel the price to higher ground. So, this is going to be one heck of a wild run here.
$HYGS gave back a slight 1.6% which wasn’t so bad.
Price is still above the 5 MA line and the chart looks bullish.
Although $DMRC closed down, I like what I saw on the chart.
I like the way price bounced back up from the low before closing. The odd of a bounce from here.looks good.
$STV attempted to breakout of its recent consolidation but failed at the end.
However, the real deal is next Tuesday when earnings is reported. It is my belief that their numbers will surprise us to the upside.
$AMRN was holding its ground.
The chart showed a normal pause after a big one day increase. I believe more good news will come to Amarin. A buy-out or a FDA favorable decision, take your pick. Or should I say roll your dice? Like a blackjack counter, I counted a lot of high cards in the shoe, so my odd of winning the hand is high. So let’s see how my cards play out by mid-Sep which is when the FDA may announce their decision.
Due to corrections from $LRAD, my port gave back 2.9%. YTD gain is now at 11.1%.
LRAD, HYGS, DMRC, STV, AMRN, ORBC (100% invested/speculated)
My 2 cents.Comments »