[Weekend Summary]
Dear Member:
Volatilities steadied a bit toward the end of the week and I saw a few more equities begin to give some bullish signs. The Nasdaq enjoyed a very slight gain and the Dow and S&P 500 experienced relatively light losses. Both the latter have come down from head and shoulders patterns on the weekly charts and rested near levels of modest support by Friday close. There is still no clear indication in my mind that the bear is finished, but there seems to be a more bullish feel (however slight) than there has been in the recent past.
Well after more than a year without realizing a loss in Trend Trader, I took a hit on the ProShares UltraShort QQQ ETF (QID). Guess I was due. When QID broke support I pulled the plug.
On the more optimistic side, I am seeing more bullish candidates beginning to stir and I believe I am positioned well with a lot of cash if a move does get underway as some indicators are starting to suggest.
My long time income producer, Evergreen Income Adv Fd (EAD) continues to pay the regular dividends and had a bounce after an earlier retreat to support. This one had been doing what I want it to do -- pay a good return.
Ceragon Networks(CRNT)lit the afterburners and made a very substantial move this week. It now looks like it may have some new life. An upturning market could help in that regard.
Have a great weekend, and thanks for subscribing.
Bill
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