Portfolio Update

CPLP had a bearish day on less than average volume. The price movement wasn't enough to drastically move the Stochastic and MACD indicators, so the Stochastic indicator is slowly declining but is still in the overbought range and the MACD is continuing it's slow decline to the zero line. The call option I sold on it still looks safe.

EVEP had a bearish day on greater than average volume. The price movement was wide, so the turn up in the Stochastic and MACD indicators has abruptly shifted back down. I think there is some more down side and flat movement before it actually goes back up.

SLV had a bearish day on greater than average volume. The price movement was large enough that the Stochastic and MACD indicators continued to dive. It looks like the concern I spoke about yesterday is coming true. However, I am thinking that it may drop as far as $16 a share.

As far as my paper trades, ISPH had a seriously bearish day on catastrophically greater than average volume. The price first gaped down and then swung both higher and lower during the entire day. At the end of the day it closed slightly better than it had started. Unfortunately, ISPH is now so much lower than I had expected, so my exit strategy need revising. I am buying back the $7.50Feb10 Call option at $0.05 and will be holding the stock. Depending on the movement tomorrow, I may sell the the $5Feb10 Call against it or sell the stock. This is a wait and see situation for at least 24hrs. That is my opinion, you can take it or leave it.

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