Dear Member:
This week showed a great deal of strength in the major industries. There now appears to be some suggestion of a pause and a retracement would not surprise me.
The Biotech HLDRs. (BBH) and the SP500 ETF (SPY) were up strongly for the week. BBH gained a $1.83 and SPY $1.43. XLK also moved nicely in concert with the tech move.
The Sepracor (SEPR) Oct bearish call spread is still doing well and holding its own.
I did take a loss when I closed Transocean (RIG) down $1.30 from my entry.
I entered positions by purchasing LEAPS on Sanmina (SANM) and on Citigroup (C).
Serius Satellite Radio (SIRI) remained flat this week.
Have a good weekend!
Bill
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