[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.
Well, I got rid of a couple of small losers (Healthtronics and Pain Therapeutics) this past week. Each lost less than 50 cents and looking at the charts, it looks like I jumped ship at a good time.
On the other side of the coin, Navios Maritime (BULK) has been flying and is up more than 23% since my entry in mid-December. I am setting my alert at $6.40 and plan to exit the position if it retreats to that level. In any event, unless something extraordinarily bad happens, this should be a profitable play.
I bought some Introgen Therapeutics (INGN) on Wednesday and it closed Friday up 2.5% from my entry.
Mindspeed (MSPD) moved up for the week and took a little breather on Friday along with the whole market.
Iamgold (IAG) was essentially flat for the week, but I still like the position in gold as a hedge against a market downturn.
Blackrock Sr Hi Income (ARK) has been a strong steady performer since I got in to enjoy the dividends. The share price is up 4.5% and when I calculate in the dividends already received, I am up nearly 9% in about 4 months.
Have a great weekend.
Bill
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