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[Weekend Summary]
Dear Member:
A big down day on rising oil and a disappointing employment report culminated a down week for the major averages. Though there has been talk about an oil bubble, it certainly did nothing to slow the upward speculation in the commodity. The Nasdaq Composite retreated to stop at the uptrend line that began in March while the S&P 500 and the Dow each broke down through recent support. Nothing particularly positive emerged for the bulls this week although the large losses on the major averages with high volume may be signaling a capitulation. We can only wait to see and Monday will be a day to watch.
I added a position in Northstar Realty Finance (NRF) this week and it still has what appears to be decent support around $10. The stock has shown some strength until it dipped along with the market on Friday. The company does have a positive dividend with the rate over 14% a year at current prices.
Burger King Holdings (BKC)also lost a little ground with the Friday downdraft in the overall market, but, on the positive side, remains in the uptrend that led to my decision to buy it in the first place.
Evergreen Inc Adv Fd (EAD), a steady income producer, managed to gain a little for the week.
Ceragon (CRNT) fell back to the uptrend line on the weekly charts after giving some positive vibes during the past quarter.
Have a great weekend.
Bill
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