[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.
Overall market performance considered, it was not a bad week for me in the cheaper issues. I closed my position in Aehr Test Systems (AEHR) for a 3% gain before commissions in just 6 days.
US Energy Wyo (USEG) is up since my entry on Monday. Though off slightly since my entry on Thursday, Premier Exhibitions (PRXI) held at support in spite of the big market drop Friday. City Telecom HK (CTEL) also managed to move up for the week and even gained ground against the tide on Friday.
Blackrock Sr Hi Inc (ARK), an income producing device for me has been sliding sideways (which is fine for me as an income vehicle), but managed to move up against the tide Friday as well.
Introgen (INGN) did little for the week and I am still holding as a speculative position awaiting ultimate news on testing of their cancer treatments.
Have a great weekend.
Bill
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