[Weekend Summary]
Dear Member:
The down,up,down,up,down,up pattern of the last several weeks continued for the Dow 30 and the Nasdaq. The SP-500 ended the week essentially flat (-.72). However, neither the Dow nor the Nasdaq did anything very impressive except perhaps get their respective heads slightly above last week's close. The uptrend does remain in place though, it would seem, with a little less enthusiasm. Next week the market is closed on the 4th and has an hour early quit on the 3rd. Volume is likely to be down all week with the holiday.
I added a position in Nokia (NOK) today. The stock has been trending up, honoring the 40 day exponential moving average and successfully retested a little support.
Evergreen Income Advantage Fd (EAD) has been paying $0.12 a share a month for a return in the 9.8% area and bounced up after retreating to a support this week.
Realty Income Corp. (O) went ex-dividend this week and pays $0.128 a share on the 16th. The stock appears to have found a support in the area of $25 and made a nice bounce from there.
Palm, Inc. (PALM) announced pretty lousy earnings and looked very weak this morning. However, as the day progressed, it moved up and came to rest precisely on an earlier support. I'll hang with it to see whether the support will continue to hold. If not, I'll dump this one.
Have a great weekend and a wonderful 4th of July.
Bill Kraft
|
