[Weekend Summary]
Dear Member:
After the huge bullish moves on Tuesday, the Dow, Nasdaq, and S&P 500 all settled down for the remainder of the week. The Dow and S&P are just below triple top resistance so the jury is still out. The Nasdaq also has to conquer the 2400 level before a continuation of the short term bullishness. However, volatilities have returned to near the February lows and that does give some reason for additional bullish optimism.
Well, I finally found a bullish play I liked for Trend Trader this week when I bought The Blackstone Group (BX) once again. The stock is up about 4.7% since my entry on Wednesday.
While still in the doghouse, Ceragon (CRNT) continued to show life as it managed a 4% gain from the low of the week.
Evergreen Income Adv Fd (EAD) paid me yet another dividend this week and also moved about 2.5% up from the low of the week to Friday close.
If the major averages can break this nearby resistance, we may be getting ready for a serious move, but they haven't yet so the caution flag remains over the track.
Have a great weekend.
Bill
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