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[Weekend Summary]
Dear Member:
Maybe its me, but it looks like the bullish move may be losing a little steam. It seems like the markets, particularly the Dow 30 Industrials could use a little breather. The SP-500 and Nasdaq were pretty flat over the week span and the Dow only gained a little over 60 points. None of those averages were able to regain Thursday's losses on Friday, but all are still in bullish uptrends.
I closed my Powerwave (PWAV) trade this week for a gain of 7.5% before commission in 13 days.
Cybex (CYBI) has remained in an uptrend and still looks very positive.
You know the story on Introgen (INGN) by now. I am playing this one as a high risk high reward possibility as its cancer treatment winds through the final phase FDA process. The stock is in the middle of a relatively narrow range as the market awaits news.
Mindspeed (MSPD) is also in the middle of its trading range and I will hold pending a breakout in one direction or the other.
I only put out one buy alert this past week, and I did not get filled. One of the problems with cheaper stocks in a market that is moving up fairly strongly is that they cease to be cheap and get over the $10 barrier pretty quickly. Searching for new candidates becomes more difficult since the universe populated by under $10 issues is smaller and has a lot of dogs as well. Selection and entry price become even more critical and pennies can definitely count.
There are candidates, though, and I am constantly searching for those I consider to provide good upside potential.
Have a great weekend.
Bill Kraft
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