Dear Member:
I closed my spread on Sepracor (SEPR) for a 13.5% return on risk in about a month. Had I stayed longer, I would have done a bit better, but the old saying is you can't go broke making a profit.
The Biotech HOLDRs. (BBH) were up nicely for the week.
My Citigroup (C) spread is working out nicely as the stock tumbled a bit on poor earnings. Fortunately, I had sold the short leg last week.
CarMax (KMX) is going up and that doesn't help my put position. However, I stayed in because I noticed that one of the officers was selling 193,000 shares which appears to be relatively bullish.
Sanmina (SANM) was down a dime for the week.
Sirius Satellite (SIRI) is moving right along support.
SPY, the tracking stock for the SP500 was up for the week. XLK, the tracking stock for the techs, held its own.
Have a great weekend!
Bill
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