Weekly and or Pre-Opening - Main report excerpted. on or before 11:00 am

Archived report titles and dates available upon your request to see how we commented in advance of the market action:

02.05.10 - PRE - FEAR versus RISK what a crock

02.02.10 - PRE - RARE TREND MODIFICATIONS - PRELUDES TO NEXT DIRECTION - TURN INTO OBSESSIONS

01.29.10 - PRE - THE WEEK THAT WAS GROTESQUE EXUBERANCE - SAGA CONTINUES

01.28.10 - PRE - BETRAYAL - OBSCENE

01.27.10 - PRE - THE ANNUAL FREAK SHOW

01.26.10 - PRE - THE APOLOGIST'S HANDBOOK - parts 1 & 2

01.25.10 - PRE - ONLY REAL BULL REMAINS CLASS ACTIONS SUITS - CLEVER VS. CLUELESS

01.22.10 - PRE - READY, SET, RESET: DO-OVER FOR MARKETS AND DEMOCRACY

01.21.10 - PRE - WITH A LITTLE HELP FROM OUR FRIENDS – DOING GOD’S WORK – Goodwill…Good luck- God-awful

01.19.10 - PRE - TOO BIG TO – FEEL - NO CONTRITION- JUMPING TO CONCLUSIONS

01.15.10 - PRE - BYGONE DAYS REVISITED - HOW BANKERS REALLY THINK:  “IT’S OUR PRIVILEGE TO SCREW YOU”

01.13.10 - PRE - EYEWITNESS TO DISASTER ... No good crisis goes “unwasted”

01.12.10 - PRE - TELL ALL - WEIGHING IN

01.11.10 - PRELUDE TO THE WEEKLY REPORT

01.08.10 - PRE - NO PROFILES IN COURAGE THE GREEDY-BASTARD BANKERS LIVING A DREAM

01.07.10 - PRE - JUXTAPOSING – REVISIONIST - LOOKING THROUGH A PEEPHOLE

01.06.10 - PRE - FOOLS RUSH IN WHERE WISE MEN FEAR TO TREAD

01.05.10 - PRE - ACTIONS HAVE CONSEQUENCES

12.31.09 - PRE - SECRETS REVEALED, CREDIT GIVEN  A BRIEF PICTORIAL REVIEW

12.30.09 - PRE - WHY BOTHER?  (And Santa Rally – Jan Effect)

12.29.09 - PRE - PUTTING THINGS IN PERSPECTIVE THE (PABLO PICASSO) WAY

12.24.09 - PRE - HAPPY NEW [NO] YEAR - CHECK THE DECADE’S RESULTS

12.23.09 - PRE - THE HYPOCRISY OF NON-THINKERS…HARVARD INCLUSIVE

12.22.09 - PRE - SIMPLIFYING THINGS – RANGEBOUND - FLATHEADS

12.18.09 - PRE - PLEASE MIND YOUR OWN BUSINESS SHUT YOUR MOUTHS

12.17.09 - PRE - VEXING PROBLEMS - Cutting to the chase. Reversion to the mean – the Bottom line

12.16.09 - PRE - SIGNATURES STRAIGHT UP – HOW LIBERAL

12.15.09 - PRE - BIRDS OF PREY – ANTICLIMACTIC

12.11.09 - PRE - MAJOR DENIAL NOR SOCIALLY ACCEPTABLE

12.10.09 - PRE - CIRCULAR LOGIC

12.09.09 - PRE - NEVER TOO LATE FOR FACT CHECK ... unless you’re a shareholder or taxpayer

12.08.09 - PRE - LET’S GET THE FACTS RIGHT [Part #2] – Putting more fuel on the fire to save banks

12.07.09 - PRE - LETS GET THE FACTS RIGHT [part 1] – putting more fuel on the fire to save banks

12.03.09 - PRE - MISDIRECTION – CAPITAL MURDER - ETF

12.02.09 - PRE - DISINGENUOUS COMPLACENCY

12.01.09 - PRE - ABERRATION AND PIPE DREAMS7

11.30.09 - PRE - CHART PRESENTATION - THOSE PESKY TRENDLINES AGAIN

11.27 09 - PRE - THE ULTIMATE BLACK FRIDAY – Literally

11.24.09 - PRE - MACHUNATIONS

11.23.09 - PRE - HERE WE GO AGAIN (Esoteric Reference) – Mauling - Thief by Stealth

11.19.09 - PRE - WHAT GOES AROUND COMES AROUND

11.18.09 - PRE - OUR CONTINUING CONTRIBUTION TO VOGUE

11.17.09 - PRE - WOULDN’T FILL A THIMBLE – THUMBNAIL CHARTS

11.16.09 - PRE - THE LESS SAID THE BETTER – IRRITANTS

11.13.09 - PRE - SHARED VALUES ALL FOR THEM NOTHING FOR US

11.12.09 - PRE - TRUTH TO POWER – Attica! Attica!

11.11.09 - PRE - SHAMELESS – Spirit of America all but gone

11.10.09 - PRE - WHAT RATIONAL – NO FREE LUNCH – CANNIBAL CAPITALISM

10.09.09 - PRE - OMNIPRESENT – DOING GOD’S WORK - One more day one more 24-hour cycle the game’s over

11.06.09 - PRE - THE BREAKING POINT

11.05.09 - PRE - FELONIOUS ASSAULT

11.04.09 - PRE - SPECIAL REPORT - PEAK FEAR - KISS OF DEBT [2]

11.04.09 - PRE - CLIPPED WINGS - BONES OF CONTENTION

11.03.09 - PRE - UGLY TUESDAY HAS ARRIVED THE SPECTER OF WORSENING TIMES AHEAD

11.02.09 - PRE - SPECIAL REPORT - PEAK FEAR - KISS OF DEBT [1]

Only Special Alert Reports (titles) remain listed but any report can be requested to be compared against the market session of that day.

09.07.09 - SPECIAL NOTICE: While it’s been about five months from our last ‘special notice

06.02.09 - SPECIAL  MUTUAL FUND ALERT

04.30.09 - SPECIAL  NOTICE - MARKETS REACHED OUR FIRST GOAL TO SELL 27% GAINS

03.26.09 - ALERT:     POTENTIAL MELT UP, AKA BUYING STAMPEDE - "climactic" as opposed to "parabolic."

03.01.09 - SUNDAY   NIGHT SPECIAL UPDATE - SEMANTICS (A PRECURSOR TO WORDS MATTER)

01.18.09 - SPECIAL  ALERT  - OCO - ONE CANCELS OTHER - Good v. Evil

12.14.08 - SPECIAL  ALERT - TRUTH IS NOT OUT THERE

12.12.08 - SPECIAL  UPDATE - IT WAS ALL A BAD DREAM - WELCOME BACK TO YOUR NIGHTMARE

10.12.08 - SPECIAL  ALERT - WINTER OF DISCONTENT (#1) - ANY RALLY WILL BE AT ODDS OF THE TRUTH

10.08.08 - SPECIAL  REPORT - SAFETY OF DAMS - ITS GOING TO BE A LONG SESSION ...Cramer wanted Dead Poster

09.18.08 - SPECIAL  NOTICE - MISLEADING, HARBINGER ...whistling past the graveyard

09.17.08 - SPECIAL  NOTICE - CAUTION - calling for market melt-up

09.17.08 - SPECIAL  REPORT - A PROFOUND MOMENT, we are more qualified calling a bottom when none of them ever saw the top, CANARD

09.15.08 - ALL REPORTS DONE UNDER SPECIAL UPDATES Numbering #1 - 5 - TECTONIC -Absence of due diligence - Seeking fair value

09.07.08 - SPECIAL  SUNDAY - NIGHT ALERT - YOU HAVE LESS THAN TWO WEEKS TO HEED THE STORM WARNING

08.14.08 - MARKET  REPORT - STRONG ADMONITION ADVISORY

06.22.08 - SPECIAL  NOTICE - PEACE OF MIND – TURNING POINT APPROACHING

04.14.08 - SPECIAL  ALERT   - DIVERSIFICATION V. TRADING

03.17.08 - SPECIAL  REPORT - BIRD FLU PANDEMIC- NOT QUITE -SLIPPERY DIVIDENDS

02/25/08 - SPECIAL  ALERT   - FROM ALERT TO NOW PANIC – CRISIS DU JOUR AND BEYOND

01.21.08 - SPECIAL  REPORT - THE END OF DOGMA: TIME FOR SOLUTIONS NOT THEORY CHATTER OR HAPPY TALK

12.27.07 - SPECIAL  REPORT - GUIDING LIGHT - BREAKING NEWS & Addendum

11.28.07 - SPECIAL  REPORT - YUP, THOSE "I THINKERS" ARE THUNK OUT ABOUT NOW

11.27.07 - SPECIAL  MIDDAY - PROVING SOME OUR POINTS OF FACTS – WORMHOLES AND TURKEYS

10.22.07 - SPECIAL  ALERT    - DOES AS WE DO, NOT AS THEY SAY

10.04.07 - SPECIAL  REPORT - DISTRIBUTION OF INTELLIGENCE, WE INTERRUPT REGULARLY SCHEDULED PROGRAM

These limited postings are some of the 40 reports produced weekly: Pre/Post, Midday, and Pre Close. Our desire is to work with YOUR holdings to return you back to financial health. To request 'pristine' copy of any report of any day ...please call 201 - 488 - 2314

Intraday  excerpted update posting - 9:45 -12:00 - 3:00 PM

  LIVE DAILY REPORTS:

2009  Long Portfolio      Value Gain/Loss Since Purchase   Gain/Loss Today   DOW       YTD

... end of day close  61,445.495,611.49  +10.05%  29.09  0.05% -82.35 -1.04%   -10.47%

Our writing tone is much like Abelson of Barron's. We may be irreverent, but our content is never irrelevant

Our reputation is an open record, refuting media's contention no one can time the markets.” Professed experts never willing to post their track record. Our live index reports are memorialized by time/date stamped ahead of markets; its having tomorrow's WSJ today. A bold statement ... each day we post updates revealing our forecast, timing, and trading abilities in advance of markets as proper due diligence and planning. Others commiserate about a prior day's action while we are locking in profits, setting up for the next move from advanced planning.

The best approach to TV messiahs is close your ears, open your eyes and know free advice is very costly. Mavens never saw tops; or knew when to take profits and they will never see correct bottoms to use proceeds to purchase at lows. Buying dips (dollar cost averaging) is a flawed strategy, cheap always gets cheaper. To view the most hyped stocks (the bluest of blue chips now penny stocks) that lead to Creative Destruction, (See)  MYTHS Page

* IF JIM IS TELLING THE TRUTH... thanks to Don Harold confirming .. friends like Cramer who needs enemies ... http://www.youtube.com/watch?v=vtrke0NfbcQ

There is no wonder why investors trust and confidence is crushed along with $30 trillion in global wealth.Our production of 40 reports per week is a service to professional traders, meant to pique your interest illustrating what can happen from proper advance planning. Without a defined strategy, one cannot decide the correct investment vehicle nor know where add-ons should be done to  cost average properly, lower breakeven, and  when best to take profits. 

A partially informed investor is about as effective as a partially informed surgeon; they will hurt themselves and those around them. We wrote 12/2007 WR- Beware of the Ides of October, all capital markets were on the brink of collapse since then the bloodbath obliterated $32 trillion in global wealth. CNBC serves no utility, never see tops and bullish all the way down

*Analysts' Accuracy in forecasting is the Worst in 17 Years. (Bloomberg)

Proof our technically forward-seeing prowess comes from inter-market relationships. We engineer what is best for clients in opposition to headlines, thus taking the guesswork out of investing. We are among the very few who avail themselves in 'live time' for clients to speak with us directly. Our interest is not selling subscriptions but to assist in reinstalling confidence by reviewing your investments. Segregated profits,uses the market's money NOT new funds. This is needed to grow accounts, not fuel the market. We know what will happen; not regurgitating what has happened See- WEEKLY CHART Page

At your request, we'd be pleased to forward any report in entirety, validating that being proactive is necessary to preserve capital. Moreover, not every dip is a buying opportunity. As usual, technical's lead and eventually in the fullness of time, fundamentals react albeit too late the THEORY OF DIMINISHING RETURNS (See) CONTACT Page

Since February '09 we’ve been posting for all to see our running performance totals based on Friday’s close. Among reports 12.19.08 -PRETENCE OF KNOWLEDGE/ THE PARADOX OF THIEF through our last sale 08.26.09 - ON ICONS AND IRONY Our results speak for us while 'mavens' are backwards looking, they can only suggest how great the rally’s been off March lows; that doesn't’ translate into results for them.

2009 Model Portfolio end of week        ValueGain/Loss since purchase    YTD Gain/Loss      Dow YTD

2/27/09      69,685.00 -1,346.00 1.89%  -19.52%

* theoretical sale of 1/3       4/10/09    122,048.01                    26,277.01        27.44%           -07.90%

* theoretical sale of 1/3       6/06/09    159,444.00         58,373.00       57.56%            -0.15%

* theoretical final sale         8/14/09     186,367.7482,596.74      79.33%   6.21%

These results produced via 100 shares @ stock selection from proper buy/hold strategy  copy of list is available

2009 - Long Portfolio Value end of year: Gain/Loss [Since Purchase]: 203,660.98 +99,889.98  +95.94%

DOW JONES INDU         9820.20      +11.89%

NYSE COMPOSITE         7016.92      +21.88%

NASDAQ 100                   1725.24      +42.39%

RUSSELL 2000                  617.88        +23.71%

S&P 500 INDEX              1068.30        +18.27%

VALUE LINE INDEX       2186.30        +55.63%

AMEX COMPOSITE         1801.19         +28.88%

WE DON’T NEED TO TEAR EXPERTS DOWN TO BUILD OURSELVES UP, they do a damn good job on their own. Their pathetic track record speaks for itself, as does our axiom …with friends like these folks who needs enemies.  CXO  Advisory” '07 says performance of some “gurus” is “reasonably good” about 60% but on average, self-professed "gurus” are only right 48.6% of the time that means even (worse than coin flipping!) http://www.cxoadvisory.com/gurus/#snapshot

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#2 - Subject: Midday and Pre Close - Notice Date: 2/8/2010 12:17:02 P.M.  First with advance notice, due to weather concerns for Wednesday, we are required to be out of the office tomorrow morning in preparation for next week's follow up procedure and therefore, there will be no formal report in the AM. In all likelihood, we will issue a market report but it probably won't be any different from this update. Unless and until last week's lows at 1048 are broken, we strongly suspect that for the next week or two, there will be only rangebound trading that will mainly be confined between 1055 and perhaps 1075. Thereafter, a fast run to 1084 would be the result of too many shorts getting squeezed and not a preponderance of new buyers. If any when that opportunity arises, we would be looking to add back our shorts once the consolidation, rangebound pattern forces others out as we reenter. In the meantime, and why no CNBC report is truly necessary, the media clowns are deliberately ignoring the fact that the markets are now negative on the year and they would rather obfuscate this by debating non-important matters such as whether or not banks and their CEOs are myopic to the needs of borrowers or whether or not the Euro community, lead by the IMF, will come to the aid and assistance of Greece, Portugal, etc. They might as well take up Ron Paul's next bill to preserve the US$ as the reserve currency and address deficits. Rather, if the media had any business acumen, they might want to explore why stimulus money (to the tune of over $1 billion) is being funneled into the US Census, which is already funded. But that would require investigative journalism and today's' media is only capable of obsessing over the obvious and what has already happened. INDEXES: Rather than report on the ranges as already outlined above, we may as well submit that the next few weeks, after the Superbowl, will be a boring grind. Undoubtedly, no retail client will be remotely interested in what talking heads will try to suggest, having been wrong consistently - whether on domestic or foreign exposure, small caps or large, mining or commodities. Suffice to say, the only manner in which markets will move now is in the opposite fashion of what they are recommending. Know well, the biggest positions being accumulated are in precisely the same ETFs we sold last week, namely the inverse bear funds. That should permit sideways to higher movement in the indexes, and sideways and lower in the bear funds, as we will possibly look to buy back into them on any 5 - 10% correction. Our investment of choice has been the equity trades we've been recommending as many, with the exception of Financials, have corrected enough and longs have thrown in the towel on their dollar cost averaging programs. ---------------------------------------- #1 - Subject: Post Opening - More proof about experts Date: 2/8/2010 9:49:53 A.M This short excerpt below, while not our words, is definitely our thoughts and prior comments that if the geniuses not only can't see tops or bottoms but also don't have a feel for the economic landscape, then how can they either decide what sectors are best to buy or worse, make declarations that not only is the recession over but that a recovery is underway. Of course, if you're talking about CEOs and other executives that care more about their own wellbeing than shareholders, read the last line with regard to reestablishing dividends, particularly as they take their own inflated salaries and try to exaggerate the wellness of a company and what they see going forward. Mainly, when they also upgrade their outlook. Under the Pre Opening, we submitted that the markets are likely to move into a consolidation phase that could last a few weeks. That doesn't preclude now some wasted motion of backing and filling that will undoubtedly get the trade short at the bottom and most fearful to try the longside. Accounts know that we have had a downside target of 1050 against the experts' certainty that 1150 - 1200 was a done deal. Then they were equally sure 1100 would hold the market; then their worst case would be 1085, which ultimately got changed last Thursday to 1065 which would DEFINITELY hold. Friday's lows printed 1044.50 but as we predicted an hour before the short squeeze rally ensued and as we were covering a majority of our shorts, we said we would not be surprised if the market were to close back at 1059. In fact, the rally bettered our suggestion and rallied and closed to 1066. That now permits a downside retest that should hold 1055 and then turn up later and take out the morning highs but should not exceed 1072. We would suspect for the rest of the week this will be the new defined range, as any oversold conditions can cure themselves and basically move back to a neutral status. During this transition phase, there really isn't any worthy trading to be had, as more churning will commence and slowly, the gun-shy longs will attempt to muster up some courage that should ultimately break the market out, perhaps reaching 1084. But the longer it takes during this sideways phase, the more confused all traders will be. We may even cease producing Midday reports because this will become worthless and a distraction, as we would rather hone in on some scalp equity suggestions. We are still confident that the highs of the year are likely in but will know better by late spring/early summer with regard to the indexes. We are equally confident the public is virtually gone and any chatter about hidden gems or where investors need to put their money or that it's time for them to get back in will fall on deaf ears. Note in the commodities arena, they too are entitled to an oversold bounce, but few will confirm the new "super bull market" the experts have been advertising. (See Pre Opening regarding Forex comments). Gold is already attempting to rally and silver this morning broke the 15 barrier, having virtually satisfied our 14.65 price at 14.95. So, the clowns that predicted 1500 gold or 21 silver have already discredited themselves. And the fall in copper, having also printed a low virtually matching last September, amongst the metals will bring about new talk that the recession has resurfaced, the housing market is dead, and the geniuses now have to debate inflation versus deflation while undoubtedly others will talk about how last March's lows in stock indexes won't hold either. Please ignore all their talk. ***The so called esteemed chiefs of the nation's top banks testify that nobody could foresee the coming devastating residential mortgage problem or that home prices could ever come down we stared at our TV sets in disbelief and disgust.  After all, we had only been writing warning and petitioning DC about the problem continuously since as early as 2000, and we obtained all of our information from public sources. So during testimony they are now only updating others to their hubris if not arrogance while informing committee members of their own ignorance they all HIDE IN PLAIN SITE (sic) when perhaps a lot of them did know and chose to ignore it for fear of ruining the party while everyone was having a great time.  This attitude was neatly summed up by former Citicorp CEO Charles Prince when he famously said, "as long as the music keeps playing, we'll keep dancing."  Its nearly as laughable if not sad when they want us to believe a recovery has any more difference than a recession and its not about rehiring, but their willingness NOT to raise the dividend something shareholders had and now don't ***

NOTICE: For 36 months we have been presenting most of our reports with regularity, [all] time/date stamped ahead of market action and well in front of lagging news headlines and experts excuses after the fact. This was as a public service, in open forum as proof in contradiction to the myth that markets cannot be timed. All our  publications can be checked against time and sells data. During these troubled we want to continue to publish (some) updates but dedication to subscribers and private clients, demands our attention whereas reports maybe delayed to insure clients have assimilated the information before facsimile is published. As always, we welcome inquires and will answer anyone’s questions in live time since no other research firm has a fuller appreciation to welfare and how hard trusting investors have toiled to share in the American dream via the capital markets. Special alerts triggered by external events, and we would post notices out of concern to all investors. -------------------------------------------------------------------------------- Subject: 02.08.10 - Pre -Opening - UH DAH - NO ABSOLUTES Date: 2/8/2010 9:05:23 A.M. Thus far on the day market, experts can all agree the Colts lost but not much more than that. They are already in dispute as to why Thain is permitted to hold the new post at CIT if there was wrong doing when he was head of MER. To say nothing of BOA, where shareholders had been lead to believe the bank was buying LEH not MER. Now the new shareholders of CIT are worried he'll do the same with this company and sell off assets to both dress up the remaining portions of the company and make himself appear to be running things for a fast buck or two -- sort of like he did at the NYSE itself doing his short tenure. It's amazing how much damage Thain did in his relatively brief career on Wall Street. Nonetheless, his cover story will be that change is needed since the company cannot go down the same road or will line itself up right back in bankruptcy all over again. Gee, it doesn't take talent to sell off assets under market value. Anyone can do that. But growing a company that has discharged most of its old liabilities and making it healthy is a skill -- something hatchet guys like him don't have. Given some additional time maybe Henry Blodget will be permitted to return and run Yahoo who knows. Elsewhere are debates about what Ben Bernanke will say on the Hill including his assurance the USA will never lose its AAA ratings, as Moody's is threatening to lower and downgrade the country's rating due to debt as percentage portion to our GDP. So while Ben tries to backpedal, he equally should know there isn't one town or state that isn't in serious fiscal trouble. Elsewhere the political pundits are just certain Sarah Palin is laying out her campaign run for president in 2112 based on one pathetic speech this weekend. Yet these same experts who got every candidate hopefully wrong during the last presidential runoff in not only too large a field over the two year span as to which person man or woman would survive, but even when the field was reduced to Hillary, McCain or Obama (forget Giuliani) they still got it wrong. So regardless, whether it is in the financial arenas or outside of them, experts really suck and are dreadful at calling things even after the fact. These days they're shocked already that Hillary has said and is most willing to throw her allegiance behind Obama if he's willing to run for a second term and that she's ready and pleased to remain his Secretary of State and not challenge him. Again, this brings us back to the markets and worthless reports that Wall Street's bank executives' salaries were decided last week and not, as rumors suggested, that Blankfein was going to receive $100 million. Yet, anchors would rather debate this and whether or not the Pay Czar was informed on CIT/Thain deal than talk about the markets themselves. Considering CIT was never a part of TRAP and is a matter for the bankruptcy courts, TV anchors prefer to stall using anything to create a diversion rather than admit that their past market experts, all of whom were so sure the rally would move forward unabated till the spring, were dead wrong on everything. Now just to prove our case about where experts can't agree on anything even well after the fact, on CSPAN there's a new author documenting Lincoln and the Emancipation 200 years later and it's still open for debate. Then why should anyone think that the new arrangement with CIT (102 yr. old company) will be better under Thain's care or that in less than two months into the New Year, the experts who said the rally of last year would continue in the same direction and with momentum can any better explain why the INDU in 60 days has lost 705 points?   The bottom line is that there is no such thing as an expert, but as we have demonstrated time and again there are a handful of us who pride ourselves on being market timers and technicians, ignoring the chatter of said experts, and remaining indifferent if not contrarian to what is spewed by anchors and experts who have no appreciation that the mechanics of the market are separate and apart from their certainties and have little to nothing to do with fundamentals that include a company's earnings or what a CEO thinks he sees. And this is why we can continue to profit from the mistakes of others, including knowing when to lock in profits, step aside, and wait patiently for our next legitimate opportunity. MARKETS: Another case in point. Less than three months ago, experts were dead sure the Greenback would continue and gold as a safe haven would rise to 1300, 1500 even 2500. Yet today, right now, the EURO is the most heavily shorted instrument out here. With the Dollar Index having made it to our intermediate resistance point of just shy of 81, it too is entitled to an overbought correction, which means the FOREX traders who have been short this Index since 75 are now about to see the Dollar correct back to 79 and the Euro that they were equally sure would rally to 1.60 had them doubling down at 1.45 and reversing at 1.135, now expecting 1.25 or lower to come, should at least rally back to 1.43 on a short squeeze. Why this matters even to stock traders is because the entire market is now oversold and gold, along with some mining companies, is entitled to counterrally as well. Conversely, bonds themselves should correct this week with new supply coming on to the market and here, the geniuses will attempt to fade or short the stock market -- expecting that higher interest rates and lower bond prices is a definite sign that the Fed is already extracting stimulus money and that stocks should fall even further. In fact, with the remaining portion of earnings season to complete itself and Option Expiration due to arrive, we already saw the lows on this pass come in Friday when we covered a majority of our shorts, sold some of our inverse funds, and used the sizable cash to scalp trade from the long side some select equities. Nonetheless, we have not surrendered our general scenario for the first four months of this year's market. Following short term upward corrections, the market will continue to make lower highs accompanied by lower lows at least through May and June. No doubt this morning's talking heads will now become overtly bearish and talk about how markets have moved into untradable if not irretractable downward trend directions. We submit that in fact the markets can move back into a consolidation phase where they should be trapped between 1056 and mainly with the upper resistance, approximately 1074. This treading of water could last for a few weeks, frustrating late longs and panicking any of the prior longs who were wrong all the way down and prevent them from adding any more positions -- fearing mounting losses. The takeaway is that now that they are all waiting for secondary lows to arrive, we expect some upward bias and would wait until this channel trading exhausts itself and look to sell our light longs of late and add back our shorts should the S&P move into the 1084 range. The point being that now everyone is ready for a crash and everyone's all beared up, so we can expect just the opposite to occur. And the more negative the news is, the more irrelevant it becomes at this time or just the opposite of all the bullish news that brought us to where we are now. Tomorrow we will commence our more formal reports and will certainly lead with CNBC-SPAM WEALTH DESTROYERS. In the meantime, watch how fast the obsessive news starts to fade on Toyota, Greece, and whatever else was last week's obsession.