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stock trading, dividend stock
[Weekend Summary]
Dear Member:
A pretty bullish week overall and, maybe significantly, the VIX had a big drop Friday. Monday will be a shortened trading day and the equity and equity options markets will be closed on Christmas day. Merry Christmas to those who don't take offense, and to those who may be offended, have a very pleasant December 25th.
So far, I really like the JER Investors Trust (JRT) trade. The stock has jumped from my $10.45 entry and closed Friday at $12.68. The company has announced a regular and a special dividend to holders of record as of December 28th in the total amount of $1.10. I do expect a dip with the dividend payment, but overall, this looks like something that may continue to work well.
The Ceragon (CRNT)trade has not gone so well. It slid sideways for the week, and it is either a tax loss or a vehicle for writing covered calls. I know I will need a bigger long term tax loss next year than I do this year, so I will hold into 2008 and write covered calls against the position.
Evergreen Inc Adv Fd (EAD)was off 20 cents for the week but continues to serve its purpose as an income producer.
The ProShares UltraShort QQQ (QID) are in place as a hedge though it is looking a little more likely that the bearish position may not be as important as it appeared a couple of weeks ago. I should mention that QID also has options available for writing covered calls so a position can produce monthly income while remaining in place as a hedge.
Bill
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