CASH AND FETAL...We're very close!

One of the CNBC commentators answered when asked where people should be to be safe in these markets..."the only two positions I feel comfortable in at this moment are CASH and FETAL". Although this seems like a funny answer, and one we can all relate to it, the extreme sentiment echoed in it speaks to the complete lack of preparation that the general public took prior to the current market slide that began a year ago.

Good News/Bad News: The good news is that a multi month bear market bounce in an ongoing multi year decline is very close to starting, and it will be huge.. The bad news is that it is only going to offer temporary relief for the markets, as they reset to slide later in this "deflation and de-leveraging" cycle. So, develop a plan quickly to use the bounce to reduce exposure to markets you are too involved in, and start thinking about preservation of capital, rather than return on capital for the next couple years. Otherwise, what has happened to your portfolio in the last year will seem mild compared to what will happen to it in the next few years...assuming I'm correct.

In a rare scenario today, gold, oil, stocks, commodities, and currencies all fell at the same time. How can this happen to historically uncorrelated markets you might be asking? Well, when huge brokerages, funds, and banks all get into the same trades on the way up, and all get margin calls on the way down, and no one is there to take the bad stuff off their books, they have to all sell the good stuff that has created profits for them recently. So, they can't sell mortgages and commercial paper and derivative garbage, they must sell crude, gold, euros, google, aaple, and anything else that is liquid.

2008 year to date numbers are just out: 98% of all mutual funds are down this year! That has got to suck if you are holding any, including the 401k statements you coming to you this week or next. Those that have been following this blog have avoided thousands of points of decline, several bankruptsy events, enjoyed stellar profits in short periods of time in stocks, crude, euros, metals, ETF's, etc. While the markets were swinging all over the place, we have forecasted things to buy and sell. Just lucky? Well, absolutely, as long as you remember that the definition of luck is "when preparation meets opportunity".

At 10,482, the Dow is almost 4,000 points off it's Nov.'07 peak. Most indexes are worst off than that on a percentage basis. When the decline is over, somewhere out in 2010-2013, the Dow will likely have entered the 4,000-6,000 range and the Nasdaq the triple digits. OUCH! Must it happen? No. But, the odds are favoring that it will. Therefore, use any rally into the end of the year or early 2009 to prepare for the most devistating selling cycle in financial, real estate, and commodity assets since the 1930's. And if you think it couldn't happen again, that the government will save the system, that there are safeguards in the system that will keep it afloat, think again. That fantasy should no longer be part of your consciousness after the incompetance we've seen in the last several years.

Be safe and remember the only two positions of safety: cash and fetal. Feel free to contact me if you would like more personalized help with your situation. Stay tuned for the mark of "a" bottom.

For what it's worth,

Ken

Another One Bites The Dust!!!! WAMU IS DONE !!!!

(click on chart to enlarge)
CHART AU COURANT: The first (top) chart is the monthly chart of how fast the mighty can fall ($44 to 18 cents in under a year). The lower chart is a close up of the anatomy of denial. It shows hourly bars for the last 3 months of WaMu's life, like the heart beat of a dying man, finally going to zero. So many lies were told during the last 3 months. So many promises broken. So much fraud. On the other hand, as I said in my comments on September 11, Wamu appeared not to have long to live. I said I was going to withdraw my money and move it from the worst bank in the country to the best bank, Wells Fargo. On September 16, my comments were titled "Panic Returns to Wall Street...Market Bottom Due This Week (at least short term)". The market bottomed on September 18th and rocketed 1200 Dow points in 10 market hours (the short term bottom was in). A week later, today in fact, the government has taken over the largest, worst run bank in the country, yes WAMU, and it no longer exists. GONE, Caput, Fini, TOAST! Who's next? Wachovia Bank (WB)? National City (NCC)? You can bet there will be more, even with the bailout package!
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MARKETS: Luckily, and it may be due to the conspirators, WAMU didn't fail last week. If it had, with all the other catastrophic events going on, the odds are high that the system would have imploded, and the FDIC would not have been able to take it, causing the immediate run on most other banks in the country. As it was last week, there was a run on many money market funds, causing the FDIC to begin backing those as well, never done before. JP Morgan Chase will be your new bank, if you had funds in WAMU, which is a good thing. As for Kerry Killinger...good luck in prison, as your days under the microscope have just begun.

As the government on both sides of the aisle play their positioning games at the stake of us poor tax payers, the markets have had enough of the circus. The BAILOUT package is needed to rescue the "system", but will likely usher in selling by the fact that it further degrades the dollar and inflates the national debt. The credit markets are frozen in time, and are dictating the future of the stock market. Since it will take a while to fix the credit markets (at least months, not weeks), the stock market is extremely unlikely to bottom anytime soon, for more than a day or three.

THE MARKETS ARE AT THE HIGHEST RISK OF A CATASTROPHIC SELLING EVENT SINCE 1987. If our lawmakers play politics too long (and I means in hours, not days), we are going to see the "BIG ONE"!

Any break of Dow 10,500 should launch a landslide of selling to at least the 9,500 area, more likely 7,500-8,000 (another short term bottom should be created here). Only an immediate move above 11,500 will postpone the coming slide (perhaps allowing 12k to 12,300 in a panic to buy like last week), which could easily slash another 2,000-4,000 off the Dow this year.

(closed trades are always in black type)
INTERESTING PLAYS TO LIGHTEN UP ON OR SHORT SELL: Currently, there are no open short positions, which usually happens close to market lows. But, stay tuned. We took amazing profits into the Freddie/Fannie failure and will re-short on a reasonable rally. Looking to short the Euro near 1.4900 or higher, near Fibo 50% of prior decline.

INTERESTING PLAYS TO ACCUMULATE OR BUY (if you have to in a dangerous environment): See September 19 posting for profit taking on a lot of former trades. BX under 11, GS under 85, MSFT under 18, YHOO under 20 or above 22 and adding under 13 (entered 19.82 on August 11), GOOG under 390 (entered 389.50 on 9/28, using break even stop as of 10/2, exited at breakeven on 9/29) and under 290, EBAY under 19 (entered 18.50 on 10/6) and adding under 12, DELL under 17 (entered 16.50 9/16) and adding under 10, SMH (entered @ 25 on 9/15 at market open) adding under 21, SLV under 10 adding under 7, SBUX under 13 (entered 12.99 on 10/6), RIMM under 95 (entered 94.99 9/16, exited 99.99 on 9/25, +5.00 or 5.5%) but will re-enter under 63 (re-entered 61.18 on 9/29, stop set at breakeven 10/2, exited breakeven on 10/6) re-entering under 53 (entered 52.99 later on 10/6) and add under 41, AAPL under 135 (entered 134.99 9/16) adding under 90 (entered 2nd time 89.99 on 10/6) and under 65 , INTC under 19 (entered 18.99 9/16) adding under 14. CRM under 45 (entered 44.99 on 9/29) adding under 32. SBUX under 13 (entered 12.99 on 10/6) and adding under 8. And, new additions in the natural resource areas...RIO under 18 (entered 16.88 on 9/29) adding under 8, and PCU under 19 entered 18.88 on 9/29) adding under 8 for 50% pops. SCHN under 28 (entered 27.99 on 10/6). UWM under 32 (entered 31.99 on 10/6) and adding under 24. Long the Euro under 1.3500 (entered 1.3498 on 10/6, placed break even stop on 10/7) adding under 1.3000.


For what it's worth,

Ken

1930's...AGAIN? Bernanke Thought So This Week!!!

Fed Chairman Bernanke, THE undisputed expert on the Great Depression, evidently felt so scared of seeing that scenario unfold this time, that he and Pres. Bush, Treasury Sec. Paulson, SEC Chairman Cox, and at least several hundred lesser knowns put together the "everything including the kitchen sink" bailout package (which is being called the stabilization package so they don't have to say bailout) of the century this week. This has changed the rules that have been in place for 70 years. And, we don't know the particulars yet. Only the headlines were disclosed in an attempt to turn the markets, which worked so far. Did they put on a bigger bandaide or fix the problems? Most likely, this is another bandaide. They say the money markets are now covered under FDIC, and that the Government (you and I) will be taking half a Trillion (with a T) of bad mortgages off banks balance sheets. Wow, I guess the Darwins concepts of evolutionary survival of the fittest no longer apply to American business, banking, or speculating. It's now okay to be a blundering idiot and destroy other people's lives and net worths, and be backed and bailed out by good old Uncle Sam.

THIS IS NOT GOOD NEWS...WE SHOULD NOT BE CHEERING !!!

Coming so close to financial collapse, for the US and other countries, is nothing to celebrate. Are our systems and products too advanced for our regulators and leaders to control? Apparently! Check out the list below of all the longs I sold prior to the open on the hype of the "stabilization". I got huge one and two day moves, and must exit, as I don't understand the new rules of the new game. When I do, I can play again.
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(closed trades are always in black type)
INTERESTING PLAYS TO LIGHTEN UP ON OR SHORT SELL: Currently, there are no open short positions, which usually happens close to market lows. But, stay tuned. We took amazing profits into the Freddie/Fannie failure and will re-short on a reasonable rally. Looking to short the Euro 1.4900 or higher, near Fibo 50% of prior decline.


INTERESTING PLAYS TO ACCUMULATE OR BUY (if you have to in a dangerous environment): See August 11 posting for profit taking on a lot of former trades. MSFT under 23, adding under 18, YHOO under 20 or above 22 and adding under 13 (entered 19.82 on August 11), GOOG on break back above 475 or under 461 (entered 460.99 at 9a on 9/3, exited at breakeven premarket 9/19) and adding under 400, EBAY on break back above 22 (lower from 24 on 9/15) (entered 21.99 on 9/15) and adding under 17, SNDK under 12 or above 15 (entered 15.01 on 9/5, using 13.48 stop as of 9/10, exited 24 premarket 9/19, +8.99 or 59%), GRMN under 30 or above 35 (down from 36 on 9/16, entered 35.01 on 9/18, using breakeven stop as of 9/19), DELL under 17 (entered 16.50 9/16) and adding under 10, SMH (entered @ 25 on 9/15 at market open) adding under 21, SLV entered 10.75 (exited 12.45 9/19, +15.8%)...I'll reenter 11.75 and add twice this amount at 8.75. GS under 118 (entered 117.48 on 9/16 6:09 am, exited 139.80 premarket 9/19 +22.32 or 18.9%) or above 130 and adding under 88 (lowered from 95 on 9/17), C which is riskier than most below 15 (entered 14.99 on 9/17, exited premarket 9/19 @21.99 +7 or 46%). GE under 23 (entered 22.99 9/16, exited 29.49 premarket 9/19 +6.50 or 28%), MS under 18 (lowered from 24 on 9/17) (entered 17.99 on 9/17, exited premarket 9/19 @34, +16.01 or 88% ), JEF under 14 or above 19 (entered 19.01 9/17, exited 28 premarket on 9/19, +9, or 47%), SBUX under 13 or above 17, UWM under 43 or above 46 (entered 46.01 9/16, exited premarket 9/19 @ 55, +8.99, or 19.5%), RIMM under 95 (entered 94.99 9/16, exited 99.99 on 9/25, +5.00 or 5.5%) or above 100, AAPL under 135 (entered 134.99 9/16) or above 140, INTC under 19 (entered 18.99 9/16) or above 21.


In Crude, I will buy any test of 100 +/-2 or a break above 112 now (entered $101.78 on 9/10 and stop is now breakeven as of 9/19 at 11a PST, exited 109.08 10:40a PST, +$7.10 or $3505 per contract) adding near $90 (added $90.98 on 9/16 @4:30am PST, exited this second position only $96.98 on 9/17 11:28a PST, +6 handles or $3000 per contract). Standing aside as of 9/22 10:44a.


Re-entered the Euro at 1.4439 @ 8a on 9/3 (exited 1.4539 on 9/18, +1 handle or $1250 per contract) and I'll add second entry back if under 1.4050 (added 1.4049 on 9/15 @ 4am PST, stop on this second position only at 1.4000 entered 11am PST, exited this position only 1.4359 on 9/17 @11:44a PST, +3.1 handles or $3875 per contract), standing aside now to see how things shake out or buying under 1.4200 (entered 1.4199 on 9/19 4:30a PST, exited 1.4649 on 9/22 9:26a PST, +4.5 handles or $5,625 per contract, as bounce pattern looks corrective, and everyone calling for further immediate move higher).


For what it's worth,


Ken

PANIC returns to Wall Street...MARKET BOTTOM DUE THIS WEEK (at least short term)

(click on chart to enlarge)

CHART AU COURANT: Following up on the headline from last post, at least a short term low is due this week for the stock markets in the US of A. This chart of VIX is how the "street" measures panic. It's the price of buying insurance against the worst case scenario. So, when VIX is low, the street is NOT fearful of things they don't know about. When it's high, they are very, very worried about disasters they don't know about. However, it's like child psychology: when you want your child to do something, you tell them not to. Here, the street (which is all of us put together) never buys the panic insurance until the disaster they didn't know about happened. That would be like finally buying your earthquake insurance after the big one hits. Stupid, right? So, we use VIX to tell us when the disaster is over or nearly so. Look above...you see the spikes in the past above the 30 level are rare, and above 35 are very rare. In fact, VIX has never closed above 35, and only closed above 30 a handful of times in its history. When it's up this high, it's telling us that street is paying too much for insurance against disaster, and it's time for a reversal in the next day or two! In addition, the stochastics are extremely extended above 90, which is also rare. Finally, the VIX is approaching the 4 standard deviation band. The only time in history that the VIX closed above this band was in August 2007, when it actually rose to the 6 standard deviation band for a few minutes. That panic low led to a 1700 point Dow rally (13%) and 200 point S&P rally (14%) in the following two months. Don't get me wrong. Nothing is for sure, but I point out that this is what short term bottoms often look like, at least in the past several years. On the other hand, very rarely, panic like this is actually ahead of the actual disaster. If that is the case this time, imagine what the disaster will be, considering what we know so far.

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INTERESTING PLAYS TO LIGHTEN UP ON OR SHORT SELL: Currently, there are no open short positions, which usually happens close to market lows. But, stay tuned. We took amazing profits into the Freddie/Fannie failure and will re-short on a reasonable rally.

INTERESTING PLAYS TO ACCUMULATE OR BUY (if you have to in a dangerous environment): See August 11 posting for profit taking on a lot of former trades. MSFT under 23, adding under 18, YHOO under 20 or above 22 and adding under 13 (entered 19.82 on August 11), GOOG on break back above 475 or under 461 (entered 460.99 at 9a on 9/3, exited at breakeven premarket 9/19) and adding under 400, EBAY on break back above 22 (lower from 24 on 9/15) (entered 21.99 on 9/15) and adding under 17, SNDK under 12 or above 15 (entered 15.01 on 9/5, using 13.48 stop as of 9/10, exited 24 premarket 9/19, +8.99 or 59%), GRMN under 30 or above 35 (down from 36 on 9/16, entered 35.01 on 9/18, using breakeven stop as of 9/19), DELL under 17 (entered 16.50 9/16) and adding under 10, SMH (entered @ 25 on 9/15 at market open) adding under 21, SLV entered 10.75 and adding twice this amount at 7.75. GS under 118 (entered 117.48 on 9/16 6:09 am, exited 139.80 premarket 9/19 +22.32 or 18.9%) or above 130 and adding under 88 (lowered from 95 on 9/17), C which is riskier than most below 15 (entered 14.99 on 9/17, exited premarket 9/19 @21.99 +7 or 46%). GE under 23 (entered 22.99 9/16, exited 29.49 premarket 9/19 +6.50 or 28%), MS under 18 (lowered from 24 on 9/17) (entered 17.99 on 9/17, exited premarket 9/19 @34, +16.01 or 88% ), JEF under 14 or above 19 (entered 19.01 9/17, exited 28 premarket on 9/19, +9, or 47%), SBUX under 13 or above 17, UWM under 43 or above 46 (entered 46.01 9/16, exited premarket 9/19 @ 55, +8.99, or 19.5%), RIMM under 95 (entered 94.99 9/16) or above 100, AAPL under 135 (entered 134.99 9/16) or above 140, INTC under 19 (entered 18.99 9/16) or above 21.

In Crude, I will buy any test of 100 +/-2 or a break above 112 now (entered $101.78 on 9/10) adding near $90 (added $90.98 on 9/16 @4:30am PST, exited this second position only $96.98 on 9/17 11:28a PST, +6 handles or $3000 per contract). I'll add it back under $89.

Re-entered the Euro at 1.4439 @ 8a on 9/3 (exited 1.4539 on 9/18, +1 handle or $1250 per contract) and I'll add second entry back if under 1.4050 (added 1.4049 on 9/15 @ 4am PST, stop on this second position only at 1.4000 entered 11am PST, exited this position only 1.4359 on 9/17 @11:44a PST, +3.1 handles or $3875 per contract), standing aside now to see how things shake out.

For what it's worth,

Ken

WHEN THE MIGHTLY FALL, the meek will inherit! Russian Meltdown! MARKET LOW DUE THIS WEEK IN USA...

(click on chart to enlarge)
CHART AU COURANT: Check out this chart of the 30 year Treasury Bond Yield, spiking to 3.9% Tuesday, then reversing. It was anticipating a FOMC rate lowering, but didn't get it, so reversed. This will likely be the lowest yield seen in many years, which also hasn't ever been seen before! You can see the spike touched the 4 standard deviation band (red line), a very rare phenomenon, in addition to having its stochastic turning up from extreme oversold levels. RATES JUST BOTTOMED OR ARE SO CLOSE TO BOTTOMING, THE BET HAS BE MADE THAT THEY HAVE. Waiting for further decline would be gambling, not risk-adjusted decision making. If you snooze, you lose...
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MARKETS: The "Reserve Primary Fund", a supposedly "value stable" money market, just "broke the buck" as we say when their price drops under $1.00 per share. This should NEVER happen if the fund does the thing it is supposed to do, which is act conservatively to safe guard your money. This IS what happens when your fund tries to be something its not in order to attract attention and new money. SHAME ON THEM !!! The leaders of the fund should be put in jail for fraud! If you think this is bad, the Russian Stock and Bond Markets (that's right, the whole market) was shut down today, for the second day in a row, for no other reason than "prices were down too much"! There logic for you. So, if you were thinking about avoiding the turmoil in the US by going overseas, think again. At least we keep our casinos open (usually, that is. If needed, they'll close ours too!).

The only safe funds are those that ONLY invest in US Treasury Securities, nothing else but T-bonds, T-notes, and T-bills. I highlighted one several weeks ago and here it is again: The safest money market in the country remains the AMERICAN CENTURY CAPITAL PRESERVATION FUND 1 (http://www.americancentury.com/ or 800-345-2021). The expense ratio is extremely low at .48%, they don't use a custodial bank, which means they know where the money is at all times, and they ONLY buy treasuries! Remember, cash has outperformed stocks for the last eight years!

Bear Stearns, Fannie, Freddie, IndyMac, Lehman, Merrill Lynch, and Countrywide are all gone in the last nine months. AIG, the largest insurance company on the planet was just bailed out by the Fed, with the issuance of an $85 billion facility to provide them the liquidity for an orderly shutdown. Is Washington Mutual next? Then who? Citigroup? Both are somewhere between possible and probable. Want to be safe? Put your funds in the money market above and sleep well knowing they do it the right way and barely charge you while they are doing it.

This is happening due to very bad judgement, greed, and fraud by our elected officials (mainly Congress). The damage is so severe that major banks and brokers are failing, as listed above. Next will be the hedge funds that have laughingly walked to the bank for the last 10 years, believing their poop didn't stink and they were beyond rules of prudence and fiduciary responsibility. Guess what guys, what went around is coming back around, and if your karma isn't in order, you should be looking for a foreign country without extradition to get to quickly!

Crude: as I've said for the months of mania into the $148 price peak, it wouldn't last and sub $100 is around the corner (see past posts for exact wording if you don't remember). Here we are with $90 oil this morning. I've been buying into this support zone lately, chronicled in these pages, and expect a bounce anytime now into the $110-$130 area, prior to another liquidation wave under $90, perhaps into the $50-$80 range. Impossible you say? Well, you probably didn't believe me either when at $140, I said watch for $100.

Euro: Yes, here too, my system called many opportunities to short the euro and buy the dollar in the past six months, even recommending those with foreign currency exposure to stop avoiding the dollar and begin being dollar friendly in transactions (see past posts for exact wording if you don't remember). Since then, the Euro has fallen from 1.6000 to 1.3900, a 13% simple gain. Again, at the time of my forecast, everyone else was calling for the death of the dollar.

Housing: you know where I stand, as I have forecast the destruction of this market for over a year and a half. It's early in the liquidation, so wait to buy. And, if you haven't sold what you're not living in...hmmm...I'm sorry for you.

Precious Metals: Peaked and going lower, but a bounce is due now. Gold will be very attractive closer to $600 in coming weeks to months.

INTERESTING PLAYS TO LIGHTEN UP ON OR SHORT SELL: Currently, there are no open short positions. But, stay tuned. We took amazing profits last week into the Freddie/Fannie failure volatility.

INTERESTING PLAYS TO ACCUMULATE OR BUY (if you have to in a dangerous environment): See August 11 posting for profit taking on a lot of former trades. MSFT under 23, adding under 18, YHOO under 20 or above 22 and adding under 13 (entered 19.82 on August 11), GOOG on break back above 475 or under 461 (entered 460.99 at 9a on 9/3) and adding under 400, EBAY on break back above 22 (lower from 24 on 9/15) (entered 21.99 on 9/15) and adding under 17, SNDK under 12 or above 15 (entered 15.01 on 9/5, using 13.48 stop as of 9/10), GRMN under 30 or above 35 (down from 36 on 9/16), DELL under 17 and adding under 10, SMH (entered @ 25 on 9/15 at market open) adding under 21, SLV entered 10.75 and adding twice this amount at 7.75. GS under 118 (entered 117.48 on 9/16 6:09 am) or above 130 and adding under 88 (lowered from 95 on 9/17), C which is riskier than most below 15 (entered 14.99 on 9/17). GE under 23 (entered 22.99 9/16), MS under 18 (lowered from 24 on 9/17) (entered 17.99 on 9/17), WGO under 9 or above 13, JEF under 14 or above 19 (entered 19.01 9 17), SBUX under 13 or above 17, UWM under 43 or above 46 (entered 46.01 9/16), RIMM under 95 (entered 94.99 9/16) or above 100, AAPL under 135 (entered 134.99 9/16) or above 140, INTC under 19 (entered 18.99 9/16) or above 21.

In Crude, I will buy any test of 100 +/-2 or a break above 112 now (entered $101.78 on 9/10) adding near $90 (added $90.98 on 9/16 @4:30am PST). Again, this bounce is a relief rally, and we see a certain test of the 80 area coming in the next 3-8 months. Re-entered the Euro at 1.4439 @ 8a on 9/3 and I'll add second entry back if under 1.4050 (added 1.4049 on 9/15 @ 4am PST, stop on this second position only at 1.4000 entered 11am PST), and I will exit above 1.5000. If stopped out on second, I'll add second back above 1.4439 or under 1.3999.


For what it's worth,

Ken

FED and FDIC not designed to operate in CHAOS, which is what we have NOW!

Update on last post: This weekend, Lehman Brothers, a 150 year old investment bank declared bankruptsy, BofA bought Merrill Lynch out of the abyss, AIG, a trillion dollar balance sheet company, is in full blown panic to save themselves, and Washington Mutual teeters closer to closure.

IT IS NOT OVER, SO DON'T ACT LIKE IT IS. CAUTION IS IMPERATIVE! Guard what you have.


For what it's worth,

Ken

WAMU...Live or Die?

(click on chart to enlarge)

CHART AU COURANT: This is it, with WAMU trading under $2 for the first time ever. Will they fail this weekend and be taken over, or will the Hail Mary firing of Kerry Killinger bounce the stock and bank out of likely doom? There is a reasonable chance that they will fail, and completely exhaust the FDIC insurance fund (Wamu's insured deposits of $200 billion are three times the size of the total FDIC fund), leaving all other bank deposits at risk. I'll be at the door of my local branch as they open today asking for most of my cash, just in case. It's your money, so take the action that you need to and sleep and live well.
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INTERESTING PLAYS TO LIGHTEN UP ON OR SHORT SELL: Currently, there are no open short positions. But, stay tuned. We took amazing profits last week into the Freddie/Fannie volatility.

INTERESTING PLAYS TO ACCUMULATE OR BUY (if you have to in a dangerous environment): See August 11 posting for profit taking on a lot of former trades. MSFT under 23, adding under 18, YHOO under 20 or above 22 and adding under 13 (entered 19.82 on August 11), GOOG on break back above 475 or under 461 (entered 460.99 at 9a on 9/3) and adding under 400, EBAY on break back above 22 (lower from 24 on 9/15) (entered 21.99 on 9/15) and adding under 17, SNDK under 12 or above 15 (entered 15.01 on 9/5, using 13.48 stop as of 9/10), GRMN under 30 or above 36, DELL under 17 and adding under 10, SMH (entered @ 25 on 9/15 at market open) adding under 21, SLV entered 10.75 and adding twice this amount at 7.75. GS under 118 (entered 117.48 on 9/16 6:09 am) or above 130 and adding under 95. GE under 23, MS under 24 or above 28, WGO under 9 or above 13, JEF under 14 or above 19, SBUX under 13 or above 17, UWM under 43 or above 46, RIMM under 95 or above 100, AAPL under 135 or above 140, INTC under 19 or above 21,

In Crude, I will buy any test of 100 +/-2 or a break above 112 now (entered $101.78 on 9/10) adding near $90 (added $90.98 on 9/16 @4:30am PST). Again, this bounce is a relief rally, and we see a certain test of the 80 area coming in the next 3-8 months. Re-entered the Euro at 1.4439 @ 8a on 9/3 and I'll add second entry back if under 1.4050 (added 1.4049 on 9/15 @ 4am PST, stop on this second position only at breakeven entered 11am PST), and I will exit above 1.5000. If stopped out on second, I'll add second back above 1.4439 or under 1.3999.

For what it's worth,

Ken