[Weekend Summary]
Dear Member:
The Dow and S & P 500 are in uncharted and the Nasdaq is elevated to a level not seen for years. While some caution is generally a good idea, things still are looking bullish as we go into the earnings season.
I scored a 96 cent a share gain on TBS International (TBSI) and an 88 cent a share gain on Taser (TASR) in 3 days. (I mistakenly said I made 98 cents on TASR in the alert closing the trade; it was actually only $0.88 or 5.3% in 3 days before commission).
Pfizer (PFE) also made a good move and I set a stop in the profit zone at $25.40 (entry price was $24.48.
Palm, Inc. (PALM) remains in the shorter term uptrend and has been moving along a support resistance area.
Evergreen Inc Adv Fd (EAD) that I hold primarily for its generous income managed to move up about 2.6% for the week.
The one disappointment this week was the tumble by Ceragon Networks (CRNT) on the announcement it was making a public offering of 6 million shares and an downgrade after the surprising news. I did not bail with the panic and expected at least a dead cat bounce. The bounce has occurred and it is important to me to see that the downdraft halted at the 40 day moving average. I think that may be a positive sign. If that level does not hold, though, it will be time for me to cut the loss.
Bill
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