Weekly Investment Newsletter, April 16
Stocks to Watch: Shares of SLM Corp. (SLM) jumped after reported talks with private equity firms regarding its acquisition and possible suitor with the Blackstone Group. Cott Corp. (COT) is weighing business options with interested parties possibly joining operations with Cadbury-Schwepps. Dyax Corp. (DYAX) broke through the $5 level after positive late stage trials of a drug to treat genetic disease. Shares of Medis Technology (MDTL)surged after it stated it began shipping its 24/7 Power Pack fuel cell product to Microsoft.
Special Note: The downside gaps from late February on the three major indexes have now been filled and makes the markets vulnerable to a sell off of significance. The upside strength was accompanied by 8 consecutive closing up days in a row on the DOW an unusual occurrence. Consecutive long strings of up days in a row tend to happen coming off major lows and tops. The last time was the major low of March 11, 2003 when 8 up days in a row occurred. A continued defensive investment strategy seems prudent for investors.
Commentary provided by Barry Ward, Registered Principal, NobleTrading.com, Inc.
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