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[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 missed an entry on On Semiconductor (ONNN) this week, but the stock has remained in the same price range so it, along with a couple of others, is on the radar for next week.

Safeguard Scientific (SFE) inched up this week and remains above entry.

After retreating to support, Mindspeed (MSPD) again jumped off that level. It is continuing to channel and as I mentioned before, it seems that the longer a stock consolidates, the greater the breakout when it comes. Of course, I am looking for an upside breakout on this one, but breakouts do go in either direction.

Introgen (INGN) looked like it was heading for the fences on Wednesday when some good news was released on the cancer treatment trials, but it then fell back a bit on Thursday. It was up for the week and this one is as close to a bet as I make. I like the company and the chances for a very positive news release down the road.

I have promised to follow Silicon Image (SIMG) even though my original order was not filled. It was up a bit this week, and even more importantly to my mind, held above $9. I may take another shot at entering myself early next week.

Have a great weekend.

Bill

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