[Weekend Summary]
Dear Member:
Somewhat predictably wild times in the markets over the last several days. It is both earnings season and today was April options expiration for retail trades. The Dow marched higher through the week finishing with a big move Friday on strong volume. The SP-500 and Nasdaq also moved up. The interesting thing was that market breadth was negative for much of the week until Friday. Much of the jump Friday may be related to options expiration and it was particularly interesting to me that the Nasdaq stopped at the level of the February high from which it immediately tumbled farily far and fairly fast in February. I mean that as an observation, not as a prediction. I believe that market movement next week will be particularly significant. I consider myself to be a relatively conservative trader, since I do trade my own money for my living, and was particularly wary this week coming into option expiration in the middle of earnings.
I entered a position in Palm, Inc. (PALM) on Thursday. While it is too early to tell, I like what I see in the chart on this one.
Both Nuveen Senior Income (NSL) and Evergreen Income Adv Fd (EAD) held their own on price this week. Of course, I use these two as vehicles to generate a regular income and they are both doing quite well on that score as they both also remain in the price profit zone as well.
Aspect Medical Systems (ASPM)jumped on Monday, but fell back Tuesday. It is still in the range where I bought it, but I have my hands around the anchor rope.
Have a great weekend.
Bill
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