[Weekend Summary]
Dear Member:
The markets pushed a little higher this week but without quite the steam of the past few weeks. The question now becomes whether we are looking at a breather, a little profit taking, a retreat, or a move on forward. One little clue was that the turn back up today was not accompanied by much volume. That could be a sign that the run-up may be losing some of its momentum. Once again, we need to see what happens early next week and on what volume.
My positions in City Telecom HK (CTEL) and Bovie Medical Systems (BVX) were each closed for a profit last week. Before commission, CTEL realized a 6% gain in under three weeks and BVX yielded 3.6% in just five days.
Introgen (INGN) jumped 43 cents for the week and Silicon Storage Tech (SSTI) gained about 3.4% from the beginning of the week.
Kulicke & Soffa (KLIC) is poised at an important intersection of trend support and price support. It may take a little time to deal with this area, but if it can get above $8.88, $10 could certainly be achieved.
I added Hypercom (HYC) and it has done little so far. DMI remains positive and the stock has been holding above the 50 day moving average.
My "income machine," Blackrock Sr Hi Income Fd (ARK) is set to pay another .047 cents a share the first of the month.
Have a great weekend.
Bill
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