[Weekend Summary]
Dear Member:
A couple of weeks ago, I mentioned that February can be a down month in the markets. We may have begun to see a move in that direction this week as all the major averages drifted down and volatilities moved up slightly. Some bearish fuel was added with rising interest rates and oil back above $60 a barrel.
As you know, I am only in a couple of positions at the moment, but both are doing quite well. Ppl Corporation (PPL) was up $1.22 for the week and may be ready to retrace a bit since it has just bumped up against resistance. The stock is up $1.70 since I entered in mid-January. I intend to try to keep a tight rein so I can preserve most, if not all, my paper profits.
Nuveen Senior Income (NSL) has been one of those "get rich steady" plays. The share price is up nearly 10% since my entry last April and combined with dividends received the position is up almost 16%.
As I noted in the first paragraph and as you probably have gathered, I am not rushing into anything bullish, but am trying to find only the best opportunities. As I wrote in the "Newsletter" a couple of weeks ago, patience is critical to success in the markets. So far, the trend positions I am holding are proving that out.
Have a great weekend.
Bill
|
