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[Weekend Summary]
Dear Member:
Oil continues to have a major impact on the markets. As the price of oil dropped today, stocks were up about 1.5% for the day. Over the week, the indexes were mixed with the Dow managing a modest gain to hold just above some support. The Nasdaq Composite dipped a little for the week while also finishing the week at a support/resistance level. The S&P 500 was essentially flat after closing back above the 1350 level.
I was able to close the trade on US Energy Wyo (USEG) on Monday for a 9.7% gain before commission in a week. I still like the company and would not be unhappy to find a re-entry down the road.
Blackrock Sr Hi Inc Fd (ARK) experienced a little expected dip as it again went ex-dividend and continues to pay a monthly dividend at a current rate of about 9.8% based on the Friday close.
Premier Exhibitions (PRXI) dipped 19 cents for the week, but has still managed to hold at what looks like a pretty good support. City Telecom HK (CTEL) was also down modestly but is still honoring the uptrend both on the weekly and daily charts so I'm staying with it for now.
My gamble on Introgen (INGN) is based purely on final phase test results of their cancer treatment. Until that news is ultimately announced, I do not expect anything spectacular from the stock and that is what it has been -- unspectacular. As I wrote at the outset of this trade, it is pure speculation. Until some final testing resolution, I am going to discontinue my commentary on this position since I am just saying the same thing week after week and really expect nothing unless and until there is really good news.
Have a great weekend, and thank you for subscribing.
Bill
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