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[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.

I own Blackrock Senior Hi Inc Fd (ARK)primarily as an income play. It pays a monthly dividend that is equal to about 9.1% annually on my investment. Since I am getting that return on my actual investment, the day to day price movements do not overly concern me. ARK is presently near the bottom of a channel and I will continue to hold unless the share price closes below $5.30.

CMGI is at a triple bottom support which I would expect would hold. If the stock breaks down through that support, however, my stop is at $1.72.

IntelliCheck (IDN)is also in an area of near term support. It is in a danger zone and a dip below the Friday low is reason to close the position. My stop on IDN is at $4.60.

I do not have a stop on Introgen (INGN) which, as I have repeatedly written, is a news play. Exit will be made on either a large price spike and/or a news announcement concerning results of the final phase testing of the cancer treatment.

I did take a 65 cent a share loss on Napster (NAPS) today. I was looking for a sleeper and as it turned out, really got a napper (bad, huh?).

Mindspeed (MSPD) showed some strength and moved up for the week. It is now about mid-channel, but I think that is more positive than it may sound since the stock did not succumb to market jitters. My stop is set at $1.92 which would be a break down out of the channel.

I entered a position in Repligen (RGEN) and the stock is up a little since entry. It has been rising in a steady uptrend. I am going to use the steeper short term uptrend as my exit and set my stop at $3.98.

Take a look at my commentary on Grey Wolf (GW) in the Newsletter this week. It may offer an entry while I am away next week.

Have a great week.
Bill


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