[Weekend Summary]
Dear Member:
Next week is a shortened trading week and it, like this week, don't tell us a whole lot about market sentiment. Holiday weeks usually encompass fairly light trading and high volatility. It is a time for careful trading only.
I closed two trades this past week, one in Qwest (Q) and the other in Finisar (FNSR). the Finisar trade was closed for a small loss and the Qwest trade was closed for a profit. Fortunately, the profit was greater than the loss so the net for the week was a profit. In fact, the Qwest trade gained 5.3% in 12 days before commissions.
Blackrock Senior Hi Income (ARK) showed strength this week and continues to provide regular income.
Navios Maritime Holdings (BULK) is still trending up and looks fine for now.
Mindspeed (MSPD) and Emcore are still consolidating. I am looking for a breakout.
Denny's (DENN) held above support this week and is okay for now.
Iamgold (IAG) was a new position this week. It has broken down through the trend line and I am ready to exit if it does not bounce back up very quickly. Since it is a gold stock and in the light of the terrorist rumors concerning the holidays, I decided to hang on to the position.
For those who aren't offended, Merry Christmas. For those who would be offended, have a great weekend.
Bill
|
