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.
This week was the pablum of my $10 trades. Nothing great and nothing too bad to report. I added a position in Rentech (RTK) and the stock dipped a bit, and then had a little bounce today it remains in the expected range so there is nothing to do.
Cybex (CYBI) is moving sideways, but the support is showing some firmness. Mindspeed (MSPD) has just continued moving up and down within its consolidation channel. Nothing to do there either until it breaks out of the channel.
Introgen (INGN) is more of a news play than a technical play and I am in this one waiting to see what is going on with the final phase FDA testing of their cancer treatment.
I will mention a possible candidate that I refer to in the upcoming Newsletter. I think ICCA is worth watching in the event it can break resistance in the $3.20 area. I have no order placed on ICCA, but it is definitely on my radar.
Have a great weekend.
Bill
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