[Weekend Summary]
Dear Member:
As I suggested in the Weekend Summary last week with a downside move and increasing volatility, the markets were looking edgey. This week proved to be very bearish and the end does not appear to be in sight. There is little happiness for the bulls and relative ectasy for the bears. Look out below.
I "got out of dodge" by dumping my CDC Corp (CHINA) for a fairly well controlled loss and avoided an additional 75 cents to the downside since my exit.
Happily my closed end funds, Nuveen Senior Income (NSL) and Evergreen Income Advantage have been weathering the market storm quite well and continue to have been a fairly safe harbor while producing income at a good rate.
When the market turns back up, there should be some great buying opportunities. Steady and cautious for now.
Have a wonderful weekend.
Bill
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