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stock share, stock market
[Weekend Summary]
Dear Member:
We had a see-saw week that saw the major averages lose a little ground overall. It seems that there is more uncertainty creeping in and that is a good time to keep a fair proportion of risk money in cash to await something more definitive.
I will be away in Alaska next week and will not be in touch with the market. For that reason, I am placing stops on positions that I believe need them and I'll set each of them out as I deal with the individual positions below. I'll be back at work a week from Monday.
Again, with the market turning a little squirrelly in my judgment, I preferred cash to new bullish positions. Overall, the markets were down for the week and that direction counsels caution.
Evergreen Income Adv Fd (EAD) is paying another 11.56 cents a share dividend and remains on track to pay about 9.6% on the money I invested. The return is not bad even though the share price dipped to the vicinity of the low for the year. I am not placing a stop on this fund because I am using it as an income play. However, if I were to place a stop, it would be around $12.50.
Realty Income (O) fell this week and stopped right on the uptrend line. It is still a bullish play until it closes below that line. My stop will be set at $24.50 at which point the weekly trend would be broken and further holding would not be justified even by the good dividend.
Palm (PALM)had a relatively flat week and that isn't a bad thing in the current market. The stock remains in an uptrend on the weekly chart. My stop, while gone, will be just below the weekly uptrend line at $13.95.
Have a wonderful week.
Bill
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