Dear Member:
The markets were backing off on Friday after some very good runs. It could be that it is Friday or it could simply be some profit taking. In any event, a more careful watch is probably required.
Sirius Satellite (SIRI) hit support Wednesday and has had a nice bounce since then.
I closed the trade on the Yahoo Jan '09 leaps on Friday for a 12.5% gain before commissions in only 2 days. It had reached a resistance and bounced down. I am looking for a re-entry on this one.
Sanmina (SANM) is still in the uptrend and greater than the 50-day moving average.
CarMax (KMX) is relatively flat though down a bit on Friday and needs to do something fairly soon because time is ticking on my puts.
The Biotech HOLDRs. (BBH) has had a reasonably decent move this past week.
SPY which tracks the SP500 backed off a bit on Friday but is still higher than the trend and there is plenty of profit in my Dec '07 120 calls. XLK also has been doing fairly well until today when the whole tech sector had backed off somewhat.
Citigroup (C) continues in its uptrend and my spread on that one looks good as well.
Have a great weekend!
Bill
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