[Weekend Summary]
Dear Member:
Frankly, I'm surprised, but the rally continues. The Dow, NASDAQ, and SP-500 were all up for the week and held on today as well. The Dow is at a double top and needs to break above 12,342.52 to continue the upward march. There are some warning signs in that the volatilities are beginning to increase. An increase in volatility often predicts a downturn in the market. So far, however, we have not seen the downturn.
I closed a seven day trade in Kindred Healthcare (KND)this week for a 3% profit before commissions.
I entered a position and Wells Fargo (WFC) which is in an uptrend and, so far, looks fine.
Nuveen Sr. Income (NSL) has moved up to resistance and a profit of about 4.7% could be taken. The other choice is to hold onto the stock and continue to enjoy the regular monthly income flow. Since I bought this for income originally, and since I'm not looking to take a gain on the stock before year end, I'm just going to enjoy the income for awhile.
Have a great weekend.
Bill
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