Weekend Summary
Dear Member:
It was definitely an interesting week in the markets. The Dow has certainly held strong and the SP-500 managed a light gain. On the other hand, the Nasdaq lost a little ground and is having trouble keeping up. I should note, though, that volatilities fell for the week on all three giving some credence to the thought that the uptrend may continue for a while longer.
I was able to realize a nice fast 81 cent a share profit before commission in 5 days on the Powershares China Portfolio ETF (PGJ). I suspect this one may provide many opportunities in the future.
Nuveen Senior Income (NSL) continues to be a stellar performer when both price appreciation and dividend payments are considered. Evergreen Income Adv Fd (EAD) has performed well also considering the dividend payment, but I should point out that it did dip below trend support on Friday. It is now on strict probation.
Palm, Inc. (PALM) fell to support and bounced giving some indication that it may be ready to make another bounce. A bounce to the $18 area would not be a surprise and after that, the next target appears to be $20.
Realty Income Corp (O) has fallen along with the REITS in general. Though it does pay a regular and pretty hefty dividend, it is near an important support which, if broken would be the signal to head for the exit.
Have a great weekend.
Bill
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