[Weekend Summary]
Dear Member:
The markets are closed today for observance of Good Friday so the summary is coming to you a little earlier than usual. The major indices all moved up this week and volatilities dipped once again showing continued market strength. So far, it seems like the markets want to continue to push higher and I currently have only one bearish hedge position in place. Of course, I am watching the markets on a daily basis so I try to keep my finger near the trigger just in case.
SMART Modular Technologies (SMOD) brought in 2.5% in a 3 day trade. A break above 13 on strong volume could present another opportunity on this one.
Both the income plays, Nuveen Senior Income (NSL) and Evergreen Income Adv Fd (EAD) are doing what they are supposed to do. NSL is up 10.3% in price since I orginally bought it and has added another 6% or so in dividends. EAD is holding its own and offers a 9.6% annual dividend; it is up a bit in price since my entry as well.
I entered a position in Aspect Medical Systems (ASPM) on Tuesday and the price has dropped a little since entry. I have this one on a short leash, but it did stop at the 18 day exponential moving average and I am satisfied for the moment.
For those to whom it applies -- Happy Easter. Have a good weekend.
Bill
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