[Weekend Summary]
Dear Member:
Volatilities as represented by the VIX, VXN, and VXO dropped off sharply as the markets ran up in response to the Fed lowering an important interest rate a somewhat surprising 1/2 point.
The Nasdaq Composite Index rose nearly 70 points for the week and is approaching the 2725 level where it would enter territory not seen since the latter part of 2000 and the early part of 2001. The SP-500 was up strongly as well as it heads for the July highs. 1550 looks like the next magic number for the S & P. The Dow Industrials are pushing toward the 14,000 mark they hit in July.
I bought some City Telecom HK (CTEL) on Thursday and it has bumped up a bit since entry.
Silicon Storage Tech (SSTI) is slightly below my entry price and bumping along in a consolidation. The stock gave another bullish sign today when the price was up on increasing volume. I'd like to see it break above $3.50 where there is a little level of resistance.
Blackrock Sr Hi Inc Fd (ARK) moved up 5.7% off the low for the week and continues to be an excellent income producer.
Introgen (INGN)has remained in a holding pattern and I am in the pattern with it as I await news regarding final phase testing of one of its' cancer treatments.
As I suggested before, following the downturn in the markets, this renewed bullishness has presented some new opportunities in the cheaper stocks and my guess is that more possibilities will be presenting themselves over the next few weeks if not beyond.
Have a good weekend.
Bill
|
