[Weekend Summary]
Dear Member:
Though still above their 50 day moving averages, each of the major indices were down the last two days. Volume was fairly strong on the downward move. Again, I think it is a time for caution for bulls. I want to see how far the current little retracements go and I am quite wary at the moment. I believe it is wise to do a little hedging against bullish positions, for example, by considering some puts on the QQQQ, DIA, and/or SPY to attempt to guard against a serious down move. Historically, we are in a dangerous time of year and prudence is high on my list.
I added Cameron (CAM) this week and so far, so good. Abaxis (ABAX) had been performing as hoped until today when it dropped almost $1. The good news is that the retreat was on less than average volume. It is definitely on probation, however, and may require an exit early next week if it doesn't turn back up.
Nuveen Senior Income (NSL) continues to plod upward and kick off regular monthly income. It has turned out to be quite a good trade for me.
Thank you for subscribing and have a great weekend.
Bill
|
