[Weekend Summary]
Dear Member:
It was an exciting record breaking week for the Dow 30 Industrials. The Nasdaq and SP-500 also moved fairly well though without the same fanfare though the broader SP-500 did dip a bit Friday. The markets were a bit more subdued today on GDP news that wasn't as good as had been expected and some indication that inflation may be on the move. I received an interesting email from one of my brokers today announcing that margin requirements were being increased. Though I avoid margin, it was interesting because it indicates to me that that brokerage, at least, is increasing its protection against increasing volatility and may be forecasting a downturn. May often does see a drop in the averages following the excitement of the major portion of the earnings season.
Thank goodness for stops. As you know, I sent an alert that I was placing a stop on Aspect Medical Systems (ASPM). Within minutes of placing the stop, my power went out and remained out for 30 hours during the course of a blizzard. The stop was hit the following day and got me out with a 70 cent gain before commission and saved the day as ASPM tumbled. It looks like the stock may be forming a support and could be in play again soon.
Palm, Inc. (PALM) continues to consolidate just above my entry and seems to have a good support at $17.
Realty Income Corp (O) is down slightly from my entry but today was ex-dividend day and it will be paying $0.127 a share on May 15. This one has paid about 13 cents a month in dividends.
Speaking of dividends, Evergreen Income Adv Fd (EAD) and Nuveen Senior Income (NSL) continue to do well and have each enjoyed price appreciation since my respective entries in addition to paying strong dividends.
Thanks for subscribing,
Bill
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