[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.
Recent additions Powerwave (PWAV) and Cybex (CYBI) are both doing well since my entries.
Mindspeed (MSPD) sprung back to life this week, but remains in its channel between about $1.95 and $2.40. As I think I mentioned before, the longer the consolidation, the bigger the breakout is a saying that often applies.
Safeguard Scientific (SFE) has remained in a steady uptrend though it was off a few pennies for the week.
My "hoped for" home run play, Introgen (INGN) retraced a bit this week, but as I have repeatedly said, I am in this one for the results in the final phase cancer treatment testing.
This will be my last report on Silicon Image (SIMG) about which I promised to report even though my order was not filled back in March. It has been moving sideways. I like what I see in the consolidation. If I were in it, I would hold on and in all likelihood add to my position if it breaks above $10. In fact, I may well attempt another entry myself if it breaks $10 since there is a large gap to fill to around $11.50. I would also probably exit if it turned down below $8.90. As I said, unless I place another order on SIMG, this will be my last report on that stock.
Thank you for subscribing,
Bill
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