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[Weekend Summary]

Dear Member:

The beat definitely goes on with all the major indices continuing to show strength. As always, we just try to play the hand the markets deal. Interestingly, that has enabled me to have good success in both Trend Trader and Option Trader. $10 Trader has been faced with more of a challange to find promising candidates since many stocks have passed up and out of the $10 limit. Of course, the fact that something is harder to find doesn't mean it isn't there and I consistently work to find those issues that are preparing to move.

I should mention that I will be doing some traveling over the next several weeks so I will not be glued to the computer every day. I will, however, be watching the markets regularly and will send alerts when I set and/or move stops so you can see how I attempt to protect myself when I am on the move.

I entered a position in Intelli Check, Inc. (IDN) today, but I believe I may have confused some subscribers with my alert. I sent the alert and included the buy limit which was $5.60. Actually, I was filled at $5.59. I also mentioned my exit at $4.75. What I meant was that if I am wrong on the direction which I believe will be up, I would exit if the position went against me and the stock dropped to $4.75. I did not mean to indicate I was taking a short position. Another translation would be to set a stop at $4.75. I did not actually set the stop, but I wanted you to know where I would bail out if the stock dropped. I believe it is important to have my exit plan in place before I ever enter the play. Hope that clears it up.

Blackrock Senior Hi Income (ARK) is essentially an income play for me because of the relatively cheap price of the fund and the high income it pays. It is, however, above my entry price.

Mindspeed (MSPD) is hovering in the middle of its channel. CMGI looks like it may be forming a reverse head and shoulders which could be quite promising.

Introgen (INGN) is up since forming a little double bottom in the latter part of June.

Napster (NAPS) hasn't cooperated and needs a bounce or I'm going to have to bounce it.

Have a great weekend,
Bill

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