[Weekend Summary]
Dear Member:
The markets managed to move up a little this week and volatilities dropped. While these are bullish signs, it certainly is not a time to abandon caution. I am not convinced that the bottom has been reached, but the bounce has put us back into a short term bullish mode. I had some pleasant successes in Option Trader and Trend Trader over the past week, and entered a new position in $10 Trader. With recent market movement the $10 Trader has been the most difficult to find new candidates, but that seems to be improving as the markets have settled a bit.
A pretty good week overall for Trend Trader. I had a fast and profitable trade on Mcmoran Exploration (MMR) where i was able to take a 70 cent gain on a $13.02 investment in less than a full day. While most don't happen this fast, the occasional trade is truly an "in and outer." We never can tell whether or how fast a position will move but this one proved out quite rapidly.
Nuveen Senior Income (NSL) continues its climb and will pay another $0.0615 dividend on April 1st to holders of the shares on March 15th. Evergreen Income Adv Fund (EAD) continued its climb up the uptrend line and pays a strong 9+% per year.
I bought some shares of Qualcomm (QCOM) on Thursday and it was down a bit Friday. The good news is that it moved down on light volume which is normally a bullish sign. I like my relatively small position and have played QCOM several times over the years.
Isn't it a little early in the year for daylight savings time? I do enjoy the extra light in the evening, but it seems to have come so soon this year. Enjoy your weekend.
Bill
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