Weekend Summary
Dear Member:
A strong up week for the markets. Even today, option expiration day, the indices were up on fairly strong volume. The Nasdaq stopped around a resistance, but the Dow and SP-500 look like there is more upside room before they deal with the next level resistance. Though the time of year dictates caution, the markets may be really reversing up.
This week I entered a new position in Iamgold Corp (IAG) with a close exit on a close below $10. It flirted with that $10 and was under it today, but closed above and created a candlestick hammer at the support which I think may be positive.
NSL keeps chugging along and throwing off income. It is riding the 50 day moving average and as long as it stays north of that, I see no reason to do anything but enjoy the income.
If the market can sustain the direction, I expect to enter a new play or two or three next week.
Have a wonderful weekend.
Bill
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