Daily Stock Market Commentary – 9/12/08

On Thursday, stocks started weak but turned up after the first 20 minutes. Prices were nearly unchanged for the day at about 3:25 p.m. but rose strongly in the final 35 minutes on speculation Lehman may be acquired by a stronger rival. The Standard & Poor’s 500 cash index (1,249.05) closed up 17.01 points, or 1.38%. Total NYSE volume rose 6%, indicating greater demand for stocks.

For the general stock market indexes, seasonal tendencies for the month of September are unfavorable. The trend for the short term has been Bearish, but news and speculation about companies in the deeply troubled financial sector appear to be causing volatile, disorderly, unpredictable market behavior. The established intermediate-term trend remains clearly Bearish. Long-term, the S&P 500 has been in a Primary Tide Bear Market since the intraday high of 1,576.09 on 10/11/2007. Reward/Risk tradeoffs for the major stock indexes still appear unattractive.

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
8.66% , PHW , Hardware & Electronics, PHW
10.90% , AGN , ALLERGAN
1.34% , FPX , IPOs, First Tr IPOX-100, FPX
1.14% , PIV , Value Line Timeliness MidCap Gr, PIV
21.98% , WM , WASHINGTON MUT
9.10% , NYT , NY TIMES STK A
0.90% , DGT , Global Titans, DGT
12.38% , SUN , SUNOCO
1.61% , UTH , Utilities H, UTH
4.70% , F , FORD MOTOR
1.16% , IDU , Utilities DJ, IDU
3.78% , SBUX , STARBUCKS
2.48% , PPA , Aerospace & Defense, PPA
3.75% , CCE , COCA COLA ENTER
0.87% , JKL , Value SmallCap iS M, JKL
4.74% , GILD , Gilead Sciences Inc
4.06% , CTAS , CINTAS
10.67% , CSX , CSX
1.50% , IYJ , Industrial LargeCap Blend DJ US, IYJ
0.44% , PIC , Insurance, PIC
1.02% , VGT , Info Tech VIPERs, VGT
3.78% , CPB , CAMPBELL SOUP
6.78% , WFC , WELLS FARGO
4.80% , YHOO , YAHOO
4.04% , QLD , Ultra QQQ Double, QLD
1.02% , IGV , Software, IGV
4.64% , MHS , MEDCO HEALTH
5.30% , LVLT , LEVEL 3 COMMUNICATIONS
2.81% , MET , METLIFE
4.95% , HSY , HERSHEY FOODS
1.36% , IWV , LargeCap Blend Russell 3000, IWV
1.53% , EWC , Canada Index, EWC
6.28% , CTX , CENTEX
3.36% , IYT , Transportation Av DJ, IYT
6.89% , VLO , VALERO ENERGY
11.65% , GM , GENERAL MOTORS
2.83% , DDM , Ultra Dow30 Double, DDM
0.21% , DSV , Value Small Cap DJ, DSV
4.08% , WFMI , Whole Foods Market Inc
1.17% , PFM , Dividend Achievers PS, PFM

Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-41.79% , LEH , LEHMAN BROS HLDG
-0.82% , PWP , Value MidCap Dynamic PS, PWP
-16.61% , MER , MERRILL LYNCH
-7.08% , VC , VISTEON
-5.60% , DDS , DILLARD STK A
-4.81% , NVDA , NVIDIA
-0.88% , ADRD , Developed 100 BLDRS, ADRD
-4.27% , KG , KING PHARM
-3.61% , PMTC.O , PARAMETRIC
-1.09% , IIH , Internet Infrastructure H, IIH
-3.42% , PMCS , PMC SIERRA
-3.75% , RAI , RJR TOBACCO HLDS
-3.59% , MBI , MBIA
-5.31% , WB , WACHOVIA
-2.29% , FMCN , Focus Media, FMCN
-4.74% , SLM , SLM CORP
-2.90% , TWX , TIME WARNER INC
-3.87% , ODP , OFFICE DEPOT
-2.70% , CTSH , Cognizant Technology Solutions
-1.53% , WEN , WENDYS INTL
-2.52% , DXD , Short 200% Dow 30 PS, DXD
-2.55% , TIF , TIFFANY
-1.81% , RHT , Red Hat Inc.
-3.53% , GNW , GENWORTH FINANCIAL (NYSE:GNW)
-1.26% , TDC , Teradata Corporation, TDC
-2.74% , DYN , DYNEGY
-2.60% , LM , LEGG MASON
-2.10% , XL , XL CAPITAL STK A
-4.36% , QID , Short 200% QQQ PS, QID
-0.26% , TMW , Wilshire 5000 ST TM, TMW
-2.47% , FRX , FOREST LABS STK A
-2.87% , SDS , Short 200% S&P 500 PS, SDS
-1.32% , PTE , Telecommunications & Wireless, PTE
-0.17% , ADRU , Europe 100 BLDRS, ADRU
-1.37% , SH , Short 100% S&P 500, SH
-3.55% , JNY , JONES APPAREL
-1.47% , EEM , Emerging Markets, EEM
-0.53% , EWD , Sweden Index, EWD
-1.30% , PKI , PERKINELMER
-2.18% , CNP , CENTERPNT ENERGY

Sectors: among the 9 major U.S. sectors, all 9 rose.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
2.30% Industrial SPDR, XLI
2.29% Financial SPDR, XLF
1.71% Materials SPDR, XLB
1.64% Technology SPDR, XLK
1.53% Consumer Discretionary SPDR, XLY
1.43% Energy SPDR, XLE
0.79% Utilities SPDR, XLU
0.41% Consumer Staples SPDR, XLP
0.41% Health Care SPDR, XLV

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):

Consumer Staples (XLP) Neutral, Market Weight. On 9/10/08, XLP /SPY Relative Strength Ratio rose to another new 5-year high, again confirming that the long-term trend is up. On 9/8/08, XLP absolute price rose to a new 8-month high, indicating significant price trend strength.

Health Care (XLV) Neutral, Market Weight. On 8/19/08, the XLV/SPY Relative Strength Ratio moved up to a new 7-month high, confirming an intermediate-term upside correction.

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

Industrial (XLI) Bearish, Underweight. On 9/5/08, the XLI absolute price fell to a new 7-week low, indicating intermediate-term trend weakness.

Technology (XLK) Bearish, Underweight. On 9/5/08, the XLK absolute price fell to a new 6-month low, indicating significant trend weakness.

Materials (XLB) Bearish, Underweight. On 9/10/08, the XLB absolute price fell to a new 8-month low, indicating significant trend weakness.

Utilities (XLU) Bearish, Underweight. On 9/9/08, the XLU absolute price fell to a new 23-month low, indicating significant trend weakness.

Energy (XLE) Bearish, Underweight. On 9/9/08, the XLE absolute price fell to a new 8-month low, indicating significant trend weakness.

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 Relative Strength Ratio fell to a new 34-month low on 9/11/08 and has been in a falling trend since 5/23/08. EFA is the ETF representing the EAFE, the international developed country stock markets, ex the U.S. and Canada.

NASDAQ Composite remains Bearish. On 9/8/08, absolute price broke down to a new 8-week low, indicating intermediate-term trend weakness. Relative Strength Ratio has been in a declining trend since 8/14/08.

NASDAQ 100 Index absolute price broke down to a new 5-month low and Relative Strength broke down to a new 4-month low on 9/5/08, indicating substantial trend weakness.

Growth Stock/Value Stock Relative Strength Ratio fell to a new 5-month low on 9/8/08. The short-term trend remains down. Longer term, this ratio (IWF/IWD) has been in an uptrend since 8/8/06, and it rose to a new 4-year high on 7/15/08.

The Small Cap/Large Cap Relative Strength Ratio has been consolidating since making a 2-year high on 8/14/08. The long-term trend has been Bullish most of the time since 4/8/99.

Crude Oil futures contract price fell to another new 5-month low. The short-term and intermediate-term trends remain Bearish. 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 futures contract price plunged to another new 11-month low. Gold’s short-term and intermediate-term trends remain Bearish. Gold has been in an intermediate-term downtrend since the peak of 1033.90 on 3/17/08.

Gold Mining stocks continue to underperform Gold futures on a major trend basis.

U.S. Treasury Bond futures contract price is trending higher. On 9/11/08, it rose to a new 6-month high. The short-term trend remains Bullish. Bonds have been in an intermediate-term uptrend since 6/13/08. Long term, Bonds have been in a neutral sideways trend since June 2003.

iShares iBoxx $ Invest Grade Corp Bond (LQD) ETF fell again. On 9/11/08, LQD/TLT Relative Strength Ratio broke down to another new multi-year low, again confirming that the short-term, intermediate-term, and long-term trends all are Bearish. Bond investors appear to be seriously concerned about the economic outlook.

iShares Lehman TIPS Bond (TIP) ETF remains relatively weak. On 9/4/08, TIP/TLT Relative Strength Ratio broke down to a new multi-year low, again confirming that the short-term, intermediate-term, and long-term trends all are Bearish. Bond investors are not concerned about the inflation outlook.

The U.S. dollar price rose to another new 12-month price high. The short-term and intermediate-term trends remain Bullish.

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 38.2% Bulls versus 41.6% Bears as of 9/10/2008, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio fell to 0.92, down from 0.95 the previous week. The low of 0.57 on 7/16/08 was 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.

VIX Fear Index, now at 24.39, still indicates relatively moderate Fear since the peak at 28.48 on 7/14/08. Previously, 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 27.31, still indicates relatively moderate Fear since the peak at 33.20 on 7/14/08. 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 0.80, 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 and seem likely to weaken further over the next several months.

The Dow Theory confirmed a Primary Tide 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.

The breadth of the market has been in a relatively Bearish trend long term since June 2007. The number of New Lows has exceeded the number of New Highs most days for more than a year, since July 2007, and that is one sign of a Bear Market. On 7/15/08, the Cumulative Daily Advance-Decline Lines for the NYSE and for the NASDAQ both fell to new 20-month lows, so major breadth trends remain Bearish.

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 (1,249.05):

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
1,366.59, high of 6/17/2008
1,335.63, high of 6/25/2008
1,313.15 high of 8/11/2008

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 (1,249.05):

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
8.66% Hardware & Electronics, PHW
5.56% Internet B2B H, BHH
4.04% Ultra QQQ Double, QLD
3.76% Bank Regional H, RKH
3.36% Transportation Av DJ, IYT
2.89% Ultra S&P500 Double, SSO
2.83% Ultra Dow30 Double, DDM
2.75% Broadband H, BDH
2.49% Homebuilders SPDR, XHB
2.48% Lg Cap Growth PSD, PWB
2.48% Aerospace & Defense, PPA
2.30% Industrial SPDR, XLI
2.29% Financial SPDR, XLF
2.26% Basic Materials DJ US, IYM
2.12% Oil Services H, OIH
2.09% Financial Services DJ, IYG
2.03% Growth LargeCap iS M, JKE
1.98% Biotech H, BBH
1.98% Materials VIPERs, VAW
1.87% Growth LargeCap NASDAQ 100, QQQQ
1.87% Growth Mid Cap Dynamic PS, PWJ
1.80% Internet H, HHH
1.79% Ultra MidCap400 Double, MVV
1.75% Energy Global, IXC
1.73% Health Care VIPERs, VHT
1.71% Materials SPDR, XLB
1.69% Growth VIPERs, VUG
1.65% DIAMONDS (DJIA), DIA
1.64% Technology SPDR, XLK
1.64% Latin Am 40, ILF
1.63% Growth 1000 Russell, IWF
1.63% Retail H, RTH
1.61% Utilities H, UTH
1.60% Growth LargeCap Russell 3000, IWZ
1.56% Water Resources, PHO
1.56% Dividend DJ Select, DVY
1.55% Building & Construction, PKB
1.54% Value S&P 500 B, IVE
1.54% Growth Large Cap, ELG
1.54% Natural Resource iS GS, IGE
1.53% Financial DJ US, IYF
1.53% Canada Index, EWC
1.53% Consumer Discretionary SPDR, XLY
1.53% Dividend High Yield Equity PS, PEY
1.52% REIT VIPERs, VNQ
1.52% Growth S&P 500/BARRA, IVW
1.52% S&P 500 iS LargeCap Blend, IVV
1.51% Energy DJ, IYE
1.50% Industrial LargeCap Blend DJ US, IYJ
1.47% LargeCap 1000 R, IWB
1.46% Healthcare DJ, IYH
1.45% Value LargeCap iS M, JKF
1.45% Energy VIPERs, VDE
1.45% S&P 500 SPDRs LargeCap Blend, SPY
1.44% Oil & Gas, PXJ
1.43% Industrials VIPERs, VIS
1.43% Energy SPDR, XLE
1.43% Value LargeCap Dynamic PS, PWV
1.42% LargeCap Rydex Rus Top 50, XLG
1.41% Financials VIPERs, VFH
1.41% LargeCap Blend S&P 1500 iS, ISI
1.41% Blend Total Market VIPERs, VTI
1.40% MidCap Russell, IWR
1.39% Growth MidCap Russell, IWP
1.36% LargeCap Blend Total Market DJ, IYY
1.36% LargeCap Blend Russell 3000, IWV
1.36% LargeCap Blend S&P 100, OEF
1.34% Consumer Non-Cyclical, IYK
1.34% Consumer D. VIPERs, VCR
1.34% IPOs, First Tr IPOX-100, FPX
1.32% Growth LargeCap NASDAQ Fidelity, ONEQ
1.32% Consumer Staples VIPERs, VDC
1.31% Biotechnology, IBB
1.31% Food & Beverage, PBJ
1.30% Value LargeCap Fundamental RAFI 1000, PRF
1.29% Consumer Cyclical DJ, IYC
1.28% LargeCap Blend S&P=Weight R, RSP
1.28% Dividend Growth PS, PHJ
1.27% Value SmallCap S&P 600, RZV
1.26% Value 1000 Russell, IWD
1.24% Technology GS, IGM
1.23% LargeCap Blend Dynamic PS, PWC
1.23% Pharmaceuticals, PJP
1.23% REIT Wilshire, RWR
1.23% MidCap Growth iS M, JKH
1.23% Technology DJ US, IYW
1.21% Utilities VIPERs, VPU
1.21% Biotech SPDR, XBI
1.18% Retail, PMR
1.17% Utilities, PUI
1.17% Dividend SPDR, SDY
1.17% Brazil Index, EWZ
1.17% Dividend Achievers PS, PFM
1.16% Value LargeCap NYSE 100 iS, NY
1.16% Utilities DJ, IDU
1.15% Real Estate US DJ, IYR
1.14% Value Line Timeliness MidCap Gr, PIV
1.13% Realty Cohen & Steers, ICF
1.11% Dividend Leaders, FDL
1.08% Dividend Appreciation Vipers, VIG
1.07% Technology Global, IXN
1.07% LargeCap VIPERs, VV
1.06% Healthcare Global, IXJ
1.03% Value VIPERs, VTV
1.02% Software, IGV
1.02% Info Tech VIPERs, VGT
1.02% Biotech & Genome, PBE
0.93% Software H, SWH
0.93% Metals & Mining SPDR, XME
0.90% Global Titans, DGT
0.87% Extended Mkt VIPERs, VXF
0.87% Value SmallCap iS M, JKL
0.87% Pharmaceutical H, PPH
0.83% Value LargeCap Russell 3000, IWW
0.83% Value SmallCap S&P 600 B, IJS
0.80% Value MidCap Russell, IWS
0.80% Energy Exploration & Prod, PXE
0.80% SmallCap S&P 600, IJR
0.79% Utilities SPDR, XLU
0.77% Value SmallCap Dynamic PS, PWY
0.76% Small Cap VIPERs, VB
0.73% MidCap VIPERs, VO
0.72% LargeCap Blend Core iS M, JKD
0.72% MidCap Blend Core iS M, JKG
0.68% Value SmallCap Russell 2000, IWN
0.67% MidCap S&P 400 SPDRs, MDY
0.67% LargeCap Blend NYSE Composite iS, NYC
0.67% Growth MidCap S&P 400, RFG
0.65% MidCap S&P 400 iS, IJH
0.64% Emerging 50 BLDRS, ADRE
0.63% SmallCap Russell 2000, IWM
0.61% Growth SmallCap VIPERs, VBK
0.61% Global 100, IOO
0.60% Growth MidCap 400 B, IJK
0.60% Hong Kong Index, EWH
0.59% Growth BARRA Small Cap 600, IJT
0.59% Growth SmallCap Dynamic PS, PWT
0.55% LargeCap Blend Socially Responsible iS, KLD
0.51% SmallCap Core iS M, JKJ
0.49% Value MidCap iS M, JKI
0.48% Value SmallCap VIPERS, VBR
0.44% Value MidCap S&P 400 B, IJJ
0.44% Insurance, PIC
0.44% Growth SmallCap iS M, JKK
0.43% Semiconductor H, SMH
0.41% Consumer Staples SPDR, XLP
0.41% Health Care SPDR, XLV
0.39% Value 40 Large Low P/E FT DB, FDV
0.37% Networking, IGN
0.32% Growth SmallCap R 2000, IWO
0.29% Microcap Russell, IWC
0.25% Dividend International, PID
0.24% Emerging VIPERs, VWO
0.23% Micro Cap Zachs, PZI
0.21% Value Small Cap DJ, DSV
0.21% Capital Markets KWB ST, KCE
0.20% Value LargeCap Euro STOXX 50 DJ, FEU
0.20% Germany Index, EWG
0.20% Internet Architecture H, IAH
0.20% Growth Small Cap DJ, DSG
0.18% Euro STOXX 50, FEZ
0.15% Growth EAFE MSCI, EFG
0.14% Europe 350 S&P Index, IEV
0.09% Technology MS sT, MTK
0.09% Spain Index, EWP
0.08% Bond, TIPS, TIP
0.07% France Index, EWQ
0.02% EMU Europe Index, EZU
0.02% Semiconductor iS GS, IGW
0.01% Growth S&P 500, RPG
0.00% Switzerland Index, EWL
-0.03% Telecom H, TTH
-0.04% Bond, 1-3 Year Treasury, SHY
-0.04% Italy Index, EWI
-0.05% Bond, 20+ Years Treasury, TLT
-0.07% Networking, PXQ
-0.08% Leisure & Entertainment, PEJ
-0.10% South Africa Index, EZA
-0.11% Pacific VIPERs, VPL
-0.12% European VIPERs, VGK
-0.13% Bond, Aggregate, AGG
-0.14% Financials Global LargeCap Value, IXG
-0.17% Telecom Services VIPERs, VOX
-0.17% Europe 100 BLDRS, ADRU
-0.18% Bond, 10 Year Treasury, IEF
-0.22% EAFE Index, EFA
-0.22% Value Large Cap DJ, ELV
-0.23% Nanotech Lux, PXN
-0.24% WilderHill Clean Energy PS, PBW
-0.24% OTC Dynamic PS, PWO
-0.26% Netherlands Index, EWN
-0.26% Wilshire 5000 ST TM, TMW
-0.27% SmallCap PS Zacks, PZJ
-0.28% Value EAFE MSCI, EFV
-0.36% Austria Index, EWO
-0.37% Semiconductor SPDR, XSD
-0.39% Telecom DJ US, IYZ
-0.43% Value MidCap S&P 400, RFV
-0.44% Telecommunications Global, IXP
-0.45% United Kingdom Index, EWU
-0.47% Short 100% MidCap 400, MYY
-0.48% Value S&P 500, RPV
-0.51% Semiconductors, PSI
-0.51% Software, PSJ
-0.53% Sweden Index, EWD
-0.54% Japan Index, EWJ
-0.55% Japan LargeCap Blend TOPIX 150, ITF
-0.67% Mexico Index, EWW
-0.77% Pacific ex-Japan, EPP
-0.78% Bond, Corp, LQD
-0.82% Value MidCap Dynamic PS, PWP
-0.84% Commodity Tracking, DBC
-0.88% Developed 100 BLDRS, ADRD
-0.95% China LargeCap Growth G D H USX PS, PGJ
-0.96% Belgium Index, EWK
-0.98% Australia Index, EWA
-1.02% Malaysia Index, EWM
-1.02% Singapore Index, EWS
-1.09% Internet Infrastructure H, IIH
-1.32% Telecommunications & Wireless, PTE
-1.36% Short 200% MidCap 400 PS, MZZ
-1.37% Short 100% S&P 500, SH
-1.39% South Korea Index, EWY
-1.47% Emerging Markets, EEM
-1.48% Asia 50 BLDRS, ADRA
-1.54% Gold Shares S.T., GLD
-1.61% Short 100% Dow 30, DOG
-1.78% Taiwan Index, EWT
-1.78% Oil, Crude, U.S. Oil Fund, USO
-2.07% China 25 iS, FXI
-2.25% Short 100% QQQ, PSQ
-2.52% Short 200% Dow 30 PS, DXD
-2.64% Silver Trust iS, SLV
-2.87% Short 200% S&P 500 PS, SDS
-4.36% Short 200% QQQ PS, QID