[Weekend Summary]
Dear Member:
As I predicted last week, this week was characterized by low volume and overall was pretty ho-hum.in the Dow managed a modest gain for the week while the S&P 500 and the NASDAQ remained flat. As we enter the new year, we will also be entering the earnings season as companies close their books for 2006. The markets should liven up during this period, but the past week has told us level, if anything, about market direction.
I closed my LEAPS call position on Harrah's (HET) this week for a $.60 per share gain and an 8.5% return before commissions in 6 business days.
I bought Anadarko Petroleum (APC)this week and it is up only slightly from entry.
NVIDIA (NVDA) broke back down through the trend line and has hit price support. Early next week I will decide whether to reopen the spread. I am still long the January 40 calls.
The spreads on Citigroup (C) and SPY are doing well for now.
Sirius Satellite Radio (SIRI) has dipped and is now indicating the possibility of a turn back up. On an upturn, I plan to buy back my $5 LEAPS calls.
The Biotech Holders (BBH) were down for the week.
I hope you have a fantastic 2007. Thank you for subscribing.
Bill
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