[Weekend Summary]
Dear Member:
[Weekend Summary]
Dear Member:
Though they tried, the markets never recovered from Monday's downdraft. The Dow was down for the week on pretty high volume but, interestingly, bounced back on Friday from its low to lose only 27 points for the day. There definitely are some warning signs in that the indices were down for the week and that was accompanied by increasing volatilities as measured by VIX and VXO. We may just be seeing some tax loss selling, but that is yet to be established. I am definitely operating under the caution light for bullish plays.
I closed a position in PPL and closed a position in Global Imaging Systems (GISX)this week. I lost $0.94 on the Global Imaging Systems trade but more than made up for it with $1.76 a share gainon the PPL trade. Overall, that made for a good week for Trend Trader.
I also entered a position in the Kindred Healthcare (KND)which is up slightly since entry.
Nuveen Sr. Income Fund (NSL)continues to do well and provide the income I intended to receive when I entered the position.
I will be traveling on Monday so don't expect any trades from me then. Hope you have a great weekend.
Bill
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