Sunday, September 29, 2002

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MINUTES OF INVESTMENT CLUB MEETING

Sunday, September 8, 2002

MEMBERS PRESENT: Toni Pinckney, Gretchen DuRant, Gregory Joseph, Renee Patterson, Janice Hackney, Nancy Pierre, Lee Hollie, Deborah Hauges, Sallie Williams, Zandra Coles, Preston Younger, Gay Chestnut, Ike Chestnut. Tabatha Williams

MEMBERS ABSENT: None

MEETING COMMENCED: 3:50 PM

  1. Minutes of the July 21, 2002 meeting were read and accepted. Necessary changes and comments were made.

  2. Andre Chase spoke on whether to sell or keep ADC Telecommunications. He recommends keeping ADC at this time. Risk is minimal. As a strategy, he suggests setting your limits in regard to when you will sell. He also spoke about options that are usually put at $1.50 per contract. Stocks incur a lot of risk however, the rewards can be great. He feels that at some point, the price of ADC will go up. Mr. Chase informed the group that a BEAR marked is actually a dead market. During a BULL market, a lot of movement takes place. He also provided a wealth of information on mutual funds, bonds, treasury notes, precious metals, etc. Andre stated that, "trend is your friend". When you see a trend breaking, BACK OFF!

  3. Stock Updates:
    Nokia - $13.95 /up
    JNJ - $54.92 /up
    Factset - $23.55 /up
    GE - $28.30 /down
    CAKE - $29.15 /down
    Pfizer - $30.75 /down
    ADC - $1.12 /down
    Apollo - $41.70 /up
    BBBY - $32.93 /up

  4. STOCK CONTEST: In order to be eligible to win, everyone must present. The group decided to investigate BOEING for possible presentation at the 9/29/02 meeting.

  5. Presentations: Sallie presented Proctor & Gamble. She will return with 2 Other competitors.

  6. Elsie Jones was welcomed as a new member.

  7. A question was brought to the table about purchasing additional shares of stock that we presently have. The group decided to purchase 25 shares of GE, 25 shares of Pfizer, 15 shares of Johnson & Johnson.

    8. Meeting adjourned at 7:10 PM