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[Weekend Summary]

Dear Member:

It looks as though Santa may have taken a wrong turn as far as the bulls are concerned the past week. All the major averages were down and the Nasdaq, at least, has formed a head and shoulders. Both the S&P 500 and the Dow are also showing head and shoulder-like formations as well. That combined with increasing volatility may well be forecasting another bearish leg.

Recognizing that Trend Trader is essentially a bullish service and the markets took a bit of a dive this week, things went quite well overall. I was able to close profitable trades in two issues and enter a position in a REIT that was immediately followed by a jump in price and an announcement of a dividend that will return 10.5% on my purchase price by the end of January if I hold my position through December.

I closed a two day trade in the Blackstone Group (BX) for a 52 cent a share gain and a 2.3% return before commission and closed a five day trade in Hudson City Bancorp (HCBK) for a 79 cent a share and 5.2% gain before commission. I'm rarely disappointed when my trades can bring in better than 1% a day as these two did.

I entered a position in JER Investors Trust (JRT) on Thursday at $10.45 and it then announced a 45 cent a share regular dividend and a 65 cent a share special dividend that is scheduled to be paid to those who own shares on Dec 28th. The payment is scheduled for Jan 30th. Meanwhile, the stock bumped up 90 cents a share on the news.

I am glad to still be in my position in the ProShares UltraShort QQQ (QID) since it now appears we may be in for a bit of a downside run and I hold the position as a hedge against such an eventuality.

Ceragon Networks (CRNT) continues to disappoint and at the moment looks like it could best be used as a tax loss.

Evergreen Income Adv Fd (EAD)continues to do the job as far as paying regular income into my account.

Thanks, again, for subscribing.

Bill

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