[Weekend Summary]
Dear Member:
All was looking pretty bullish until the 4th of July and the North Korean missile launching activities. Now, we're back to uncertainty and reservation in entering too many bullish positions. The indices turned back down again on Friday with the Nasdaq and Dow 30 retreating back to the uptrend line. The good news for the bulls is that the short term trend that began in mid-June was not broken -- yet. The SP-500 also dropped, but not to the uptrend line so far.
The perfect record for $10 and Under is intact with the sale of my position in Memry (MRY) that was good for a 15 cent profit before commissions and that equalled a 5% return in 15 days.
EuroZinc (EZM) moved up during the week, and as of Friday close was up 7.6% since my purchase. Stemcells (STEM)has made a significant move over the last couple of days and was particularly impressive Friday when it jumped over 2% on well above average volume. I like what I am seeing there.
Commontouch Software (CTCH) also is looking like it may have turned the corner. Both Denny's (DENN) and Emcore (EMKR) appear to be basing and that's fine. The bad news lies with Mindspeed (MSPD). It has fallen beneath support and stayed there. Unless it turns up Monday, I'm going to pull the plug and take the first realized loss in the $10 and Under category.
Once again, with the appearance of the markets, I need to be very wary before entering any bullish play. I can only take what the market is willing to give me.
Have a great weekend and thanks for your subscription.
Bill
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