Dear Member:
The markets certainly are looking more bullish though we may just be seeing a little bear market rally. The Dow was up for the week and has managed to get above the 13000 level. The same is true with the S&P dealing with the 1400 level. The Nasdaq Composite ran into a little trouble as it tried but failed to get above 2500. Though there has been some bullishness, I am not terribly impressed by the volume which has been a bit tentative. In other words, a little snorting and pawing, but no real charge yet.
Alesco Financial (AFN) has really done well. It not only has been paying a dividend at a rate equal to about 30% based on my entry, it has also enjoyed a pretty significant percentage price increase. I really like AFN for the income and will probably continue to hold, but from a pure price advance perspective, a dip below about $3.50 would supply an exit and could capture a decent return.
Blackrock Sr Hi Inc Fd (ARK) is paying another monthly dividend and remains in an uptrend. It is too soon to be sure, but it also looks as though it may be forming a bullish reverse head and shoulders that could signal a further movement to the upside. Meanwhile, it pays a handsome dividend (though not quite to the lofty levels of AFN).
Introgen (INGN) is in a short term uptrend, but, as you know, I am in this one for news on the ultimate results of the final phase testing of their cancer treatement.
City Telekom HK (CTEL) is continuing a consolidation pattern so not much new there.
Thanks for the many kind comments on my book, "Trade Your Way to Wealth," and thank you for subscribing.
Have a wonderful weekend.
Bill
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