[Weekend Summary]
Dear Member,
A good week overall. I bought some LEAPS calls on Northfield (NFLD) on Wednesday and it was up $1.27 for Thursday and Friday. EBAY on which I own the '07 40 calls was up $1.42 for the week. Briggs & Stratton (BGG) where I am short the July 40 calls moved up nicely gaining $2.04 for the week. The SPY jumped $1.16 and I bought back the Jun 121 calls I had sold against my Dec '07 115 and 120 calls to lock in a profit on that leg as well.
The Advanced Micro Devices (AMD) and 3 M (MMM) spreads were profitable for the month as options expired. I didn't enjoy any additional profits with the puts I still held, but overall the spreads made me money.
Yahoo (YHOO), Micron (MU) and Siebel Systems (SEBL) all were consolidating for the week and just fell in the "ho-hum" category.
I liked what I say on the Dow 30 from a bullish perspective. It broke a resistance and was up about 110 points on increased volume. The SP-500 gained around 18 but without volume support. The Nasdaq gained 27, but volume was down on the composite as well. I did see some signals on a number of individual stocks that suggested continued caution.
Hawaii is delightful and the trading day is over by 10:00 A.M. so it is great if you are will to rise early. Have a great weekend.
Bill
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