Daily Stock Market Commentary – 7/17/2008

Stock market: everything reversed on Wednesday …but a day or three does not make a trend.

Changes in minor trends can be sudden and violent.

Short covering and bargain hunting lifted thestocks in the most Bearish trends.

Crude Oil and Gold fell, while the U.S. dollar rallied.

NASDAQ Composite Relative Strength Ratio broke out to a new 8-month high, while absolute price rebounded after testing and holding its low of 3/17/08.

iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) absolute price broke down to another new 5-year low.

On Wednesday, major stock priceindexes opened higher and continued to rise most of the day, helped by another drop in theprice of crude oiland reports that company fundamentals might not be as bad as feared for all financial stocks. Indexes ended the session well above the open, the previous close, and the midpoint of the High-Low range. The S&P 500 closed at 1,245.36, up 30.45 points or 2.51%. Total NYSEvolume fell 9%, however, thereby failing to confirm the upside price reversal.

The breadth of the market confirmed the upside price reversal. The Advance-Decline balance ((A-D) / (A+D)) was 50.49%, the Up-Down Volume balance ((Up-Dn) / (Up+Dn)) was 57.26%, and the New Highs-New Lows balance ((H-L) / ( H+L)) was -88.17% on the NYSE. On 7/15/08, the Cumulative Daily Advance-Decline Lines for the NYSE and for the NASDAQboth fell to new 20-month lows, so major breadth trends remain Bearish.

The S&P 500 has fallen 12.71% since its rally high close of 1,426.63 on 5/19/08 and 20.43% since its all-time high close of 1,565.15 on 10/9/07. On 7/15/08 it fell to its lowest level since 11/2/05. Consistently, I have been assuming that the U.S. stock market is in a Bearish Primary Trend, which was clearly signaled here on 11/21/07, when both the Dow-Jones Industrial and Transportation Averages closed below their respective closing price lows of August, 2007. The Primary Trend is the dominant force, and it tends to overwhelm smaller trends and cycles. Even while emphasizing the Primary Trend, short-term tradersmust be always on the lookout for changes in the minor trends, which can be sudden and violent.

Spotlight on event stocks: Here is a stock screen I designed to pick out potential event stocks, both Bullish and Bearish. Sometimes, stocks with large changes in price and volume are revealed to be deal stocks, sooner or later, or are the subject of some other extraordinary events, positive or negative.

Bullish Stocks: Rising Price and Rising Volume
% Price Change, Symbol, Name
32.76% , WFC , WELLS FARGO
7.19% , STJ , ST JUDE MEDICAL
6.36% , PHJ , Dividend Growth PS, PHJ
2.09% , ADRE , Emerging 50 BLDRS, ADRE
2.73% , RZV , Value SmallCap S&P 600, RZV
10.54% , FMCN , Focus Media, FMCN
12.08% , OMX , OFFICEMAX INC., OMX
12.13% , ALTR , ALTERA
3.23% , IGW , Semiconductor iS GS, IGW
12.13% , UIS , UNISYS
7.83% , THC , TENET HEALTHCARE
3.02% , JKJ , SmallCap Core iS M, JKJ
5.26% , SSCC , Smurfit-Stone Container Corporation
2.24% , PWT , Growth SmallCap Dynamic PS, PWT
25.60% , ETFC.O , E*TRADE FINANCIAL
3.91% , XSD , Semiconductor SPDR, XSD
18.06% , F , FORD MOTOR
5.70% , XLNX , XILINX
3.47% , JKF , Value LargeCap iS M, JKF
1.74% , JKI , Value MidCap iS M, JKI
9.79% , CCL , CARNIVAL STK A
4.12% , VBR , Value SmallCap VIPERS, VBR
2.97% , PZJ , SmallCap PS Zacks, PZJ
2.44% , DSG , Growth Small Cap DJ, DSG
6.14% , PFG , PRINCIPAL FINL
11.79% , VC , VISTEON
4.78% , CTAS , CINTAS
8.64% , TIN , TEMPLE INLAND
8.00% , LIZ , LIZ CLAIRBORNE
5.11% , PGJ , China LargeCap Growth G D H USX PS, PGJ
2.99% , MDT , MEDTRONIC
2.16% , JKK , Growth SmallCap iS M, JKK
2.92% , PWER , POWER ONE
4.57% , MCHP , Microchip Technology Incorporated
4.42% , PKB , Building & Construction, PKB
5.41% , FDX , FEDEX
6.77% , FDL , Dividend Leaders, FDL
1.61% , PWC , LargeCap Blend Dynamic PS, PWC
2.76% , SWH , Software H, SWH
13.11% , NTRS , NORTHERN TRUST

Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-4.50% , GCI , GANNETT
-3.99% , OXY , OCCIDENTAL
-1.66% , IXC , Energy Global, IXC
-4.53% , DVN , DEVON ENERGY
-3.61% , FE , FIRSTENERGY
-2.57% , XLE , Energy SPDR, XLE
-2.53% , HES , AMERADA HESS
-3.39% , CVX , CHEVRONTEXACO
-3.33% , NOV , NATIONAL OILWELL VARC0
-3.37% , FCX , FREEPRT MCMORAN STK B
-2.35% , DOG , Short 100% Dow 30, DOG
-2.58% , D , DOMINION RSCS
-2.04% , IYE , Energy DJ, IYE
-2.97% , PXE , Energy Exploration & Prod, PXE
-2.88% , EXC , EXELON CORP
-2.73% , EOG , EOG RESOURCES
-1.78% , IGE , Natural Resource iS GS, IGE
-2.95% , APA , APACHE
-1.69% , IVGN , Invitrogen Corporation
-0.79% , LQD , Bond, Corp, LQD
-3.10% , APC , ANADARKO PETRO
-0.95% , HSP , HOSPIRA
-1.92% , COP , CONOCOPHILLIPS
-1.05% , CBS , CBS CORP.
-1.36% , RTN , RAYTHEON
-3.00% , MHS , MEDCO HEALTH
-1.86% , SRE , SEMPRA ENERGY
-0.90% , LMT , LOCKHEED MARTIN
-0.64% , AEE , AMEREN
-1.68% , XOM , EXXON MOBIL
-0.68% , OIH , Oil Services H, OIH
-2.06% , NE , NOBLE
-1.49% , SLB , SCHLUMBERGER
-0.80% , NBR , NABORS
-1.84% , IDU , Utilities DJ, IDU
-0.48% , EP , EL PASO
-1.04% , CEG , CONSTELL ENERGY
-0.43% , RDC , ROWAN COMPANIES
-0.41% , HAL , HALLIBURTON
-0.76% , AGG , Bond, Aggregate, AGG

Sectors: among the 9 major U.S. sectors, 7 rose and 2 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
13.10% Financial SPDR, XLF
4.02% Consumer Discretionary SPDR, XLY
2.30% Industrial SPDR, XLI
1.45% Technology SPDR, XLK
1.26% Consumer Staples SPDR, XLP
0.71% Health Care SPDR, XLV
0.38% Materials SPDR, XLB
-1.98% Utilities SPDR, XLU
-2.57% Energy SPDR, XLE

Primary Tide Trends for the 9 major sectors last for years. Here are my up-to-date Relative Strength Rankings, as measured with emphasis on these long-term Primary Tide Trends (listed in order of long-term relative strength):

Energy (XLE) Neutral, Market Weight. On 7/1/08, XLE/SPY Relative Strength Ratio rose to another new all-time high, again confirming a major uptrend.

Consumer Staples (XLP) Neutral, Market Weight. On 7/15/08, XLP /SPY Relative Strength Ratio rose to another new 5-year high, again confirming that the long-term trend is up.

Utilities (XLU) Neutral, Market Weight. On 7/15/08, XLU/SPY Relative Strength Ratio rose to another new all-time high, again confirming a major uptrend. Since 10/17/02, the XLU/SPY Relative Strength Ratio has outperformed substantially.

Materials (XLB) Neutral, Market Weight. On 7/10/08, XLB/SPY Relative Strength Ratio rose to another new all-time high, thereby confirming a major uptrend. But on 7/8/08, absolute price and XLB/SPY Relative Strength Ratio both fell to new 9-week lows, thereby suggesting an intermediate-term downside correction.

Health Care (XLV) Bearish, Underweight. On 7/15/08, the XLV/SPY Relative Strength Ratio moved up to another new 5-month high. But on 6/20/08, the XLV absolute price fell to its lowest level in nearly 2 years, since 7/18/06. Since 10/9/02, the XLV/SPY Relative Strength Ratio has underperformed substantially. On 5/15/08, the XLV/SPY Relative Strength Ratio fell to another new 6-year low, again confirming the existing Primary Bearish trend.

Technology (XLK) Bearish, Underweight. On 7/3/08, the XLK absolute price and the XLK/SPY Relative Strength Ratio both fell to their lowest levels in 6 weeks, thereby signaling a deteriorating intermediate-term trend. The XLK/SPY Relative Strength Ratio has been deteriorating since 6/6/08.

Industrial (XLI) Bearish, Underweight. On 7/2/08, both the XLI absolute price and the XLI/SPY Relative Strength Ratio fell to their lowest levels in more than 5 months, again confirming a Bearish trend.

Consumer Discretionary (XLY) Bearish, Underweight. On 7/15/08, XLY absolute price fell to its lowest level in 5 years. On 7/11/08, the XLY/SPY Relative Strength Ratio fell to its lowest levels in 6 months. Since 1/5/05, the XLY/SPY Relative Strength Ratio has underperformed substantially.

Financial (XLF) Bearish, Underweight. On 7/15/08, the XLF absolute price and the XLF/SPY Relative Strength Ratio both fell to their lowest level in 8 years, again confirming a Bearish Primary Tide Trend. Since 3/23/04, the XLF/SPY Relative Strength Ratio has underperformed substantially.

Foreign stock index EFA absolute price fell to its lowest level in 24 months on 7/15/08. Relative Strength Ratio fell to its lowest level in 3 months on 7/8/08. Since 5/23/08, EFA has underperformed the U.S. stock market. EFA is the ETF representing the EAFE, the international developed country stock markets, ex the U.S. and Canada.

NASDAQ Composite Relative Strength Ratio broke out to a new 8-month high on 7/16/08. Absolute price rebounded after testing and holding its low of 3/17/08.

Growth Stock/Value Stock Relative Strength Ratio rose to a new 4-year high on 7/15/08. This ratio (IWF/IWD) has been in an uptrend since 8/8/06.

The Small Cap/Large Cap Relative Strength Ratio rose since its low on 7/3/08. The longer-term trend appears neutral.

Crude Oil August futures contract fell steeply, down 4.14 to 134.60, breaking down below the lows of the previous 3 weeks. The short-term trend appears corrective, while the long-term trend remains Bullish. U.S. OIL FUND ETF (AMEX: USO) is not a pure play on Crude Oil, although it generally moves in the same direction.

The Energy stock sector has underperformed Crude Oil since 12/10/07.

Gold August fell 16.0 to 962.7, breaking down below the low of the previous day. This may raise questions for the short-term. On 7/15/08, Gold rose to a new 4-month high, confirming that the intermediate-term Wave and the long-term Primary Tide Trend for Gold remain Bullish.

U.S. Treasury Bond September futures contract fell steeply, suggesting a short-term correction. Bonds have been volatile and uncertain since 7/11/08, in an intermediate-term uptrend since 6/13/08, and in a neutral sideways trend since June 2003.

iShares Lehman TIPS Bond ETF (TIP) Strength Ratio Relative to iShares Lehman 7-10 Year Treasury ETF (IEF) broke out to a new 18-month high on 7/3/08.

iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) absolute price broke down to another new 5-year low on 7/16/08.

The U.S. dollar rose modestly but still enough to breakout above the high of the previous day. On 7/15/08, the dollar fell to its lowest price in 12-weeks. The most relevant trends appear Bearish.

The Art of Contrary Thinking: Traders need to be extremely nimble to keep up with rapid changes in the mass mood. The business and financial news has flipped from fear to hope and back again this year, creating higher levels of volatility. Investors might be wise to focus on risk control.

Sentiment/Contrary Opinion: There were 27.8% Bulls versus 48.9% Bears as of 7/9/08, according to the weekly Investors Intelligence survey of newsletter advisors. The Bull/Bear ratio fell to 0.57, down from 0.58 the previous week. This is the lowest level of the ratio since 1994. The ratio’s 38-year range is 0.28 to 17.51, and the median is 1.47. Sentiment indicators are often early, and so should not be used on a stand-alone basis for market timing.

VIX Fear Index, now at 25.10, indicates rising fear since 5/15/08. VIX fell from a peak of 32.64 on 3/17/08 to a low of 16.30 on 5/15/08, indicating decreasing Fear. The all-time high was 45.74 on 10/8/98. The all-time low was 9.89 on 1/24/07. VIX is a market estimate of expected constant 30-day volatility, calculated by weighting S&P 500 Index CBOE option bid/ask quotes spanning a wide range of strike prices for the two nearest expiration dates.

VXN Fear Index, now at 30.13, shows rising fear since 5/16/08. Previously, VXN fell from a peak of 35.63 on 1/22/08 to a low of 20.00 on 5/16/08, indicating decreasing Fear. The all-time high was 114.23 on 10/8/98. The all-time low was 12.61 on 7/29/05. VXN measures NASDAQ Volatility using a method comparable to that used for VIX.

CBOE Put/Call Ratio is 0.77, which indicates Bearish sentiment. Its 4-year mean and median are 0.62, and its 4-year range is 0.35 to 1.28.

ISEE Call/Put Ratio is 1.06, which indicates Bearish sentiment. The ratio’s 4-year mean is 1.50, 4-year median is 1.47, and 4-year range is 0.51 to 3.16.

Fundamentals: The 2003-2007 Bull Market was fed by abundant global liquidly, M&A, leveraged buyouts, corporate stock buybacks, and the net balance of positive earnings surprises. The unfolding fallout from the subprime credit market crisis has derailed that engine. Economic statistics and corporate earnings have weakened. Rising commodity prices push up inflation.

A new intermediate-term down wave was signaled on 6/11/08, when the Dow-Jones Industrials and Transports both closed at new 7-week lows. The Dow Theory confirmed a Primary Bear Market on 11/21/07 when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed below their respective closing price lows of August, 2007.

To discover the next Resistance, traders probably will be watching how the market acts at the following levels for the Standard & Poor’s 500 cash index (1,245.36):

Potential Resistance
1,576.09, high of 10/11/2007
1,552.76, high of 10/31/2007
1,523.57, high of 12/11/2007
1,498.85, high of 12/26/2007
1,440.24, high of 5/19/2008
1,406.32, high of 5/29/2008

To discover the next Support, traders probably will be watching how the market acts at the following levels for the S&P 500 cash index (1,245.36):

Potential Support
1,200.44, low of 7/15/2008
1,168.20, low of 10/13/2005
1,163.23, high of 3/5/2004
1,159.86, low of 5/17/2005
1,153.64, low of 5/16/2005
1,146.18, low of 5/13/2005
1,139.14, low of 4/29/2005
1,136.37, low of 4/20/2005

Daily Rankings of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol

17.67% Bank Regional H, RKH
14.21% Financial Services DJ, IYG
13.10% Financial SPDR, XLF
10.97% Financial DJ US, IYF
10.95% Financials VIPERs, VFH
10.13% Dividend High Yield Equity PS, PEY
9.76% Capital Markets KWB ST, KCE
8.10% Homebuilders SPDR, XHB
7.29% REIT VIPERs, VNQ
7.23% Financials Global LargeCap Value, IXG
7.13% Realty Cohen & Steers, ICF
7.02% Real Estate US DJ, IYR
6.88% REIT Wilshire, RWR
6.77% Dividend Leaders, FDL
6.36% Dividend Growth PS, PHJ
5.91% Ultra S&P500 Double, SSO
5.88% Micro Cap Zachs, PZI
5.61% Dividend DJ Select, DVY
5.52% Transportation Av DJ, IYT
5.52% Internet H, HHH
5.17% Value SmallCap iS M, JKL
5.11% China LargeCap Growth G D H USX PS, PGJ
5.09% China 25 iS, FXI
4.88% Value MidCap S&P 400, RFV
4.88% WilderHill Clean Energy PS, PBW
4.84% Dividend SPDR, SDY
4.78% Ultra QQQ Double, QLD
4.76% Dividend International, PID
4.73% Ultra Dow30 Double, DDM
4.67% Value SmallCap Russell 2000, IWN
4.54% Ultra MidCap400 Double, MVV
4.50% Retail, PMR
4.42% Building & Construction, PKB
4.32% Value S&P 500, RPV
4.30% Consumer D. VIPERs, VCR
4.22% Value SmallCap Dynamic PS, PWY
4.19% Value S&P 500 B, IVE
4.18% Value Small Cap DJ, DSV
4.12% Value SmallCap VIPERS, VBR
4.09% Value SmallCap S&P 600 B, IJS
4.05% Retail H, RTH
4.02% Consumer Discretionary SPDR, XLY
3.92% Hong Kong Index, EWH
3.91% Semiconductor SPDR, XSD
3.76% Singapore Index, EWS
3.73% Microcap Russell, IWC
3.67% SmallCap Russell 2000, IWM
3.60% SmallCap S&P 600, IJR
3.56% Consumer Cyclical DJ, IYC
3.51% LargeCap Blend S&P=Weight R, RSP
3.47% Value LargeCap iS M, JKF
3.46% Value LargeCap Russell 3000, IWW
3.44% Value LargeCap Fundamental RAFI 1000, PRF
3.43% Nanotech Lux, PXN
3.42% Value MidCap Russell, IWS
3.41% Asia 50 BLDRS, ADRA
3.41% Small Cap VIPERs, VB
3.39% Insurance, PIC
3.34% Industrials VIPERs, VIS
3.32% Leisure & Entertainment, PEJ
3.23% Semiconductor iS GS, IGW
3.22% Mexico Index, EWW
3.18% Dividend Achievers PS, PFM
3.18% Value VIPERs, VTV
3.17% Growth LargeCap NASDAQ Fidelity, ONEQ
3.15% Value MidCap S&P 400 B, IJJ
3.13% Industrial LargeCap Blend DJ US, IYJ
3.07% Value 1000 Russell, IWD
3.02% SmallCap Core iS M, JKJ
2.99% Growth SmallCap R 2000, IWO
2.97% SmallCap PS Zacks, PZJ
2.96% Value LargeCap Dynamic PS, PWV
2.93% Pacific ex-Japan, EPP
2.91% Technology MS sT, MTK
2.89% Emerging Markets, EEM
2.88% MidCap Russell, IWR
2.87% South Africa Index, EZA
2.84% Growth SmallCap VIPERs, VBK
2.83% MidCap Blend Core iS M, JKG
2.82% LargeCap Blend S&P 100, OEF
2.78% Growth BARRA Small Cap 600, IJT
2.78% Emerging VIPERs, VWO
2.76% Software H, SWH
2.76% South Korea Index, EWY
2.76% Extended Mkt VIPERs, VXF
2.74% Semiconductors, PSI
2.73% Value SmallCap S&P 600, RZV
2.70% Value Large Cap DJ, ELV
2.69% Software, IGV
2.67% LargeCap Blend Russell 3000, IWV
2.63% DIAMONDS (DJIA), DIA
2.61% Sweden Index, EWD
2.60% Australia Index, EWA
2.60% Pacific VIPERs, VPL
2.57% LargeCap 1000 R, IWB
2.57% Growth Mid Cap Dynamic PS, PWJ
2.55% LargeCap Blend Total Market DJ, IYY
2.53% Japan Index, EWJ
2.50% Taiwan Index, EWT
2.49% Growth LargeCap NASDAQ 100, QQQQ
2.47% S&P 500 iS LargeCap Blend, IVV
2.46% LargeCap VIPERs, VV
2.46% Water Resources, PHO
2.45% S&P 500 SPDRs LargeCap Blend, SPY
2.44% Growth Small Cap DJ, DSG
2.40% Technology GS, IGM
2.36% MidCap S&P 400 iS, IJH
2.35% MidCap S&P 400 SPDRs, MDY
2.34% Networking, IGN
2.33% Networking, PXQ
2.31% Aerospace & Defense, PPA
2.31% Blend Total Market VIPERs, VTI
2.30% Info Tech VIPERs, VGT
2.30% Industrial SPDR, XLI
2.30% MidCap VIPERs, VO
2.27% LargeCap Blend S&P 1500 iS, ISI
2.26% Technology Global, IXN
2.26% Growth MidCap Russell, IWP
2.24% Growth SmallCap Dynamic PS, PWT
2.23% LargeCap Rydex Rus Top 50, XLG
2.23% Value MidCap Dynamic PS, PWP
2.22% OTC Dynamic PS, PWO
2.16% Growth SmallCap iS M, JKK
2.16% Spain Index, EWP
2.15% Semiconductor H, SMH
2.09% Emerging 50 BLDRS, ADRE
2.09% Netherlands Index, EWN
2.09% Hardware & Electronics, PHW
2.09% Dividend Appreciation Vipers, VIG
2.08% Technology DJ US, IYW
2.06% Belgium Index, EWK
1.98% Growth LargeCap Russell 3000, IWZ
1.97% MidCap Growth iS M, JKH
1.96% Euro STOXX 50, FEZ
1.92% Value LargeCap NYSE 100 iS, NY
1.84% EAFE Index, EFA
1.82% Japan LargeCap Blend TOPIX 150, ITF
1.81% Growth 1000 Russell, IWF
1.78% EMU Europe Index, EZU
1.77% Growth LargeCap iS M, JKE
1.74% Value MidCap iS M, JKI
1.73% France Index, EWQ
1.73% IPOs, First Tr IPOX-100, FPX
1.71% Lg Cap Growth PSD, PWB
1.69% LargeCap Blend Socially Responsible iS, KLD
1.66% LargeCap Blend Core iS M, JKD
1.63% Global 100, IOO
1.62% Growth MidCap 400 B, IJK
1.61% Growth Large Cap, ELG
1.61% LargeCap Blend Dynamic PS, PWC
1.60% Canada Index, EWC
1.60% LargeCap Blend NYSE Composite iS, NYC
1.60% Value EAFE MSCI, EFV
1.59% Internet Architecture H, IAH
1.57% Growth VIPERs, VUG
1.56% Food & Beverage, PBJ
1.51% Telecommunications Global, IXP
1.47% Consumer Non-Cyclical, IYK
1.47% Developed 100 BLDRS, ADRD
1.46% European VIPERs, VGK
1.45% Technology SPDR, XLK
1.44% Growth S&P 500/BARRA, IVW
1.42% Germany Index, EWG
1.41% Latin Am 40, ILF
1.41% Malaysia Index, EWM
1.41% Growth EAFE MSCI, EFG
1.40% Software, PSJ
1.38% Value 40 Large Low P/E FT DB, FDV
1.37% Switzerland Index, EWL
1.36% Growth S&P 500, RPG
1.31% Materials VIPERs, VAW
1.29% Europe 350 S&P Index, IEV
1.29% Austria Index, EWO
1.26% Consumer Staples SPDR, XLP
1.25% Italy Index, EWI
1.17% Telecom Services VIPERs, VOX
1.17% Biotech & Genome, PBE
1.08% Brazil Index, EWZ
1.04% Consumer Staples VIPERs, VDC
1.03% Broadband H, BDH
0.97% Europe 100 BLDRS, ADRU
0.95% Biotech SPDR, XBI
0.94% Health Care VIPERs, VHT
0.90% Wilshire 5000 ST TM, TMW
0.89% Healthcare Global, IXJ
0.88% Telecommunications & Wireless, PTE
0.76% Healthcare DJ, IYH
0.72% United Kingdom Index, EWU
0.71% Value LargeCap Euro STOXX 50 DJ, FEU
0.71% Health Care SPDR, XLV
0.68% Pharmaceuticals, PJP
0.61% Biotechnology, IBB
0.61% Telecom DJ US, IYZ
0.57% Pharmaceutical H, PPH
0.56% Basic Materials DJ US, IYM
0.55% Internet Infrastructure H, IIH
0.38% Materials SPDR, XLB
0.36% Growth MidCap S&P 400, RFG
0.24% Value Line Timeliness MidCap Gr, PIV
0.10% Telecom H, TTH
-0.03% Global Titans, DGT
-0.10% Bond, 1-3 Year Treasury, SHY
-0.24% Metals & Mining SPDR, XME
-0.49% Biotech H, BBH
-0.51% Bond, TIPS, TIP
-0.68% Oil Services H, OIH
-0.76% Bond, Aggregate, AGG
-0.79% Bond, Corp, LQD
-0.83% Silver Trust iS, SLV
-0.88% Oil & Gas, PXJ
-0.91% Bond, 10 Year Treasury, IEF
-1.53% Commodity Tracking, DBC
-1.59% Utilities, PUI
-1.66% Energy Global, IXC
-1.76% Utilities VIPERs, VPU
-1.78% Natural Resource iS GS, IGE
-1.80% Gold Shares S.T., GLD
-1.81% Bond, 20+ Years Treasury, TLT
-1.84% Utilities DJ, IDU
-1.98% Utilities SPDR, XLU
-2.04% Energy DJ, IYE
-2.15% Energy VIPERs, VDE
-2.22% Short 100% MidCap 400, MYY
-2.30% Short 100% S&P 500, SH
-2.31% Utilities H, UTH
-2.35% Short 100% Dow 30, DOG
-2.49% Short 100% QQQ, PSQ
-2.57% Energy SPDR, XLE
-2.79% Oil, Crude, U.S. Oil Fund, USO
-2.97% Energy Exploration & Prod, PXE
-3.92% Internet B2B H, BHH
-4.53% Short 200% S&P 500 PS, SDS
-4.94% Short 200% MidCap 400 PS, MZZ
-5.04% Short 200% Dow 30 PS, DXD
-5.20% Short 200% QQQ PS, QID