Daily Stock Market Commentary – 9/19/2008

Stock Market: Reports, rumors, speculation, and news are disrupting orderly markets, making for an uncertain, high-risk tradingenvironment.

Reports and speculation sparked much short covering on Thursday.

The stock market has been oversold, so a further bounce could be possible, although far from certain.

It seems impossible to confidently assess what news or rumor might hit next.

The Small Cap/Large Cap Relative Strength Ratio jumped up to a 21-year high, confirming a Bullish major uptrend.

iShares Lehman TIPS Bond (TIP) ETF relative to TLT fell to a new low, suggesting expectations of deflation.

On Thursday , major stocks indexes opened higher, sank to new 3-year lows around 12:55 p.m., then reversed to the upside in the afternoon to recover most of the previous day’s very steep loss. The Standard & Poor’s 500 cash index (1,206.51) closed up 50.12 points, or 4.33%. Total NYSE volume rose 10% above Wednesday’s heavy pace, indicating greater demand for stocks, no doubt augmented by short covering.

Reports and rumors of further government rescues appeared to spark Thursday’s stock market upturn, which was fueled by short covering. News and speculation about companies in the deeply troubled financial sector appear to be causing volatile, disorderly, unpredictable market behavior this month. But, technically speaking, the trend for the short term remains Bearish, until proven otherwise.

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, as this daily update has consistently pointed out.

For the general stock market indexes, seasonal tendencies for the month of September are unfavorable. Reward/Risk tradeoffs still appear unattractive, so it still seems appropriate to focus on capital preservation.

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
27.27% , PWER , POWER ONE
74.63% , MTG , MGIC INVESTMENT
3.60% , EWQ , France Index, EWQ
44.18% , MBI , MBIA
23.94% , NCC , NATIONAL CITY
48.76% , WM , WASHINGTON MUT
20.58% , FMCN , Focus Media, FMCN
3.23% , EWN , Netherlands Index, EWN
6.00% , RFV , Value MidCap S&P 400, RFV
49.65% , CIT , CIT GROUP
34.31% , RF , REGIONS FINAN
20.55% , FHN , FIRST TENNESSEE
29.10% , MI , MARSHAL & ILSLEY
25.65% , ZION , ZIONS
6.04% , EWD , Sweden Index, EWD
28.99% , HBAN , HUNTINGTON
5.14% , DGX , QUEST DIAG
3.03% , IXJ ,Healthcare Global, IXJ
23.05% , EK , EASTMAN KODAK
3.89% , FEU , Value LargeCap Euro STOXX 50 DJ, FEU
22.68% , ETFC.O , E*TRADE FINANCIAL
15.22% , PEY , Dividend High Yield Equity PS, PEY
4.55% , EWP , Spain Index, EWP
6.03% , HHH , Internet H, HHH
21.84% , LNC , LINCOLN NATL
18.00% , LEN , Lennar Corp. (LEN)
4.58% , EWK , Belgium Index, EWK
2.97% , EWI , Italy Index, EWI
7.40% , FDL ,Dividend Leaders, FDL
2.95% , IOO , Global 100, IOO
23.55% , EQR , EQUITY RESIDENT BEN INT
8.53% , NKE , NIKE STK B
4.91% , JKI , Value MidCap iS M, JKI
7.64% , PXN , Nanotech Lux, PXN
15.58% , STI , SUNTRUST BANKS
20.97% , MET , METLIFE
13.47% , GCI , GANNETT
17.44% , HANS , Hansen Natural, HANS
4.38% , PIV , Value Line Timeliness MidCap Gr, PIV
18.67% , PCL , PLUM CREEK TIMB

Bearish Stocks: Falling Price and Rising Volume
% Price Change, Symbol, Name
-8.88% , STT , STATE STREET
-11.18% , FII , FED INVESTORS STK B
-6.28% , NTAP , NETWK APPLIANCE
-7.01% , GNW , GENWORTH FINANCIAL (NYSE:GNW)
-5.09% , MYY , Short 100% MidCap 400, MYY
-2.80% , PLD , PROLOGIS TRUST
-4.62% , BK , BANK OF NEW YORK
-8.90% , MZZ , Short 200% MidCap 400 PS, MZZ
-3.13% , DOV , DOVER
-8.28% , NEM , NEWMONT MINING
-2.76% , CPWR , COMPUWARE
-3.16% , APOL , APOLLO GROUP
-3.53% , DOG , Short 100% Dow 30, DOG
-3.35% , EMC , EMC
-6.78% , QID , Short 200% QQQ PS, QID
-2.72% , RSH , RADIOSHACK
-2.70% , IAU , Gold COMEX iS, IAU
-1.72% , RRD , RR DONNELLEY SON
-3.06% , IP , INTL PAPER
-1.43% , CTSH , Cognizant Technology Solutions
-2.82% , AMGN , AMGEN
-0.76% , HUM , HUMANA
-0.32% , SHY , Bond, 1-3 Year Treasury, SHY
-0.53% , GNTX , Gentex Corporation
-2.57% , HNZ , HJ HEINZ
-1.06% , CNP , CENTERPNT ENERGY
-0.88% , RIG , TRANSOCEAN
-1.75% , TLAB , TELLABS
-0.57% , PX , PRAXAIR
-0.58% , QLGC , QLOGIC
-6.84% , SDS , Short 200% S&P 500 PS, SDS
-2.33% , CIEN.O , CIENA
-7.25% , DXD , Short 200% Dow 30 PS, DXD
-3.35% , SH , Short 100% S&P 500, SH
-0.61% , SYMC , SYMANTEC
-0.28% , AGG , Bond, Aggregate, AGG
-0.73% , MKC , MCCORMICK
-0.73% , CHKP , Check Point Software Technologies Ltd
-5.68% , GS , GOLDMAN SACHS
-0.20% , FISV , FISERV

Sectors: among the 9 major U.S. sectors, 8 rose and 1 fell.
Major Sectors Ranked for the Day
% Price Change, Sector ETF, Symbol
7.87% Financial SPDR, XLF
4.27% Technology SPDR, XLK
3.67% Utilities SPDR, XLU
2.99% Energy SPDR, XLE
2.57% Consumer Discretionary SPDR, XLY
2.05% Industrial SPDR, XLI
1.29% Health Care SPDR, XLV
0.65% Consumer Staples SPDR, XLP
-0.03% Materials SPDR, XLB

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 9/15/08, 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 9/17/08, the XLV/SPY Relative Strength Ratio moved up to a new 3-year high, confirming a long-term uptrend.

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.

Materials (XLB) Bearish, Underweight. On 9/18/08, the XLB absolute price hit (intraday) a new 8-month low, indicating significant trend weakness.

Energy (XLE) Bearish, Underweight. On 9/16/08, the XLE absolute price fell to a new 8-month low, indicating significant trend weakness.

Industrial (XLI) Bearish, Underweight. On 9/18/08, the XLI absolute price hit (intraday) a new 2-year low, indicating long-term trend weakness.

Technology (XLK) Bearish, Underweight. On 9/17/08, the XLK absolute price fell to a new 2-year low, indicating long-term trend weakness.

Utilities (XLU) Bearish, Underweight. On 9/17/08, the XLU absolute price fell to a new 2-year low, indicating long-term trend weakness.

Financial (XLF) Bearish, Underweight. On 9/18/08, the XLF absolute price hit (intraday) a new 2-month low, indicating intermediate-term trend weakness. 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 9/17/08 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 9/18/08, absolute price broke down to another new 2-year low, indicating long-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 2-year low on 9/18/08.

Growth Stock/Value Stock Relative Strength Ratio fell to a new 5-month low on 9/8/08. The short-term trend appears relatively weak. 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 jumped up to a 21-year high on 9/18/08, confirming a major uptrend. The long-term trend has been Bullish most of the time since 4/8/99.

Crude Oil futures contract price rose above the highs of the previous 3 trading days. Still, the short-term trend appears uncertain at best, while the intermediate-term trend remains 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 outperformed Crude Oil since 7/11/08.

Gold futures contract price jumped sharply higher to a new 6-week high intraday but gave up most of those gains by the close. Gold’s short-term prospects appear uncertain. 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 fell below the lows of the previous 2 trading days. Short term, Bonds appear uncertain. 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 bounced slightly, but all trends remain Bearish. On 9/17/08, 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 9/18/08, 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. This implies that Bond investors may be anticipating deflation.

The U.S. dollar was weak intraday but closed little changed. On 9/18/08, the dollar broke down below the lows of the previous 3 weeks. The short-term trend appears uncertain.

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 37.9% Bulls versus 43.7% Bears as of 9/17/2008, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio fell to 0.87, down from 0.92 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 33.22, has moderated somewhat from its recent peak of 36.22 on 9/17/08, which was the highest level of Fear since 10/11/02. 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 32.80, has moderated somewhat from its recent peak of 35.88 on 9/17/08, which was the highest level of Fear since 4/14/03. 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 0.95, 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 0.79, 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 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 9/17/08, the Cumulative Daily Advance-Decline Lines for the NYSE and for the NASDAQ both fell to new 22-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 (1,206.51):

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
1,274.42 high of 9/8/2008
1,255.09 high of 9/12/2008
1,214.84 high of 9/16/2008

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 (1,206.51):

Potential Support
1,133.50, low of 9/18/2008

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

15.22% Dividend High Yield Equity PS, PEY
13.60% China 25 iS, FXI
10.97% Homebuilders SPDR, XHB
10.53% China LargeCap Growth G D H USX PS, PGJ
9.98% Bank Regional H, RKH
9.76% Financial Services DJ, IYG
9.07% Financials VIPERs, VFH
9.05% Financials Global LargeCap Value, IXG
9.00% REIT Wilshire, RWR
8.97% Ultra MidCap400 Double, MVV
8.50% Financial DJ US, IYF
8.50% REIT VIPERs, VNQ
8.45% Real Estate US DJ, IYR
8.43% Emerging Markets, EEM
8.36% Realty Cohen & Steers, ICF
8.28% WilderHill Clean Energy PS, PBW
8.15% Taiwan Index, EWT
7.97% Dividend SPDR, SDY
7.96% South Korea Index, EWY
7.90% Value SmallCap S&P 600, RZV
7.87% Financial SPDR, XLF
7.77% Dividend DJ Select, DVY
7.64% Nanotech Lux, PXN
7.50% Value SmallCap Russell 2000, IWN
7.40% Dividend Leaders, FDL
7.22% Ultra QQQ Double, QLD
7.21% Mexico Index, EWW
7.09% Hong Kong Index, EWH
7.03% Value SmallCap iS M, JKL
6.70% Emerging 50 BLDRS, ADRE
6.61% Latin Am 40, ILF
6.46% Microcap Russell, IWC
6.43% Value S&P 500, RPV
6.40% Value SmallCap S&P 600 B, IJS
6.35% Asia 50 BLDRS, ADRA
6.34% Ultra S&P500 Double, SSO
6.32% Global Titans, DGT
6.15% Emerging VIPERs, VWO
6.09% Value SmallCap VIPERS, VBR
6.04% Sweden Index, EWD
6.03% Internet H, HHH
6.00% Value MidCap S&P 400, RFV
5.95% Semiconductor SPDR, XSD
5.90% SmallCap Russell 2000, IWM
5.89% SmallCap S&P 600, IJR
5.86% Singapore Index, EWS
5.81% Metals & Mining SPDR, XME
5.73% Value Small Cap DJ, DSV
5.69% Europe 350 S&P Index, IEV
5.54% Pacific ex-Japan, EPP
5.49% SmallCap Core iS M, JKJ
5.47% Semiconductor H, SMH
5.39% Small Cap VIPERs, VB
5.36% Internet B2B H, BHH
5.36% Value SmallCap Dynamic PS, PWY
5.33% Value MidCap S&P 400 B, IJJ
5.32% Ultra Dow30 Double, DDM
5.27% Value LargeCap iS M, JKF
5.19% Value MidCap Russell, IWS
5.15% Value LargeCap Russell 3000, IWW
5.06% Value S&P 500 B, IVE
5.06% Australia Index, EWA
5.05% Micro Cap Zachs, PZI
5.05% Growth BARRA Small Cap 600, IJT
5.04% Semiconductor iS GS, IGW
5.01% Insurance, PIC
4.91% Food & Beverage, PBJ
4.91% Value MidCap iS M, JKI
4.91% Value Large Cap DJ, ELV
4.90% Value LargeCap Fundamental RAFI 1000, PRF
4.86% Telecommunications & Wireless, PTE
4.82% Growth SmallCap R 2000, IWO
4.82% Extended Mkt VIPERs, VXF
4.80% Value 1000 Russell, IWD
4.77% Building & Construction, PKB
4.76% Dividend International, PID
4.74% Telecom Services VIPERs, VOX
4.73% Malaysia Index, EWM
4.71% Retail, PMR
4.69% Growth Small Cap DJ, DSG
4.68% Growth SmallCap iS M, JKK
4.64% Value VIPERs, VTV
4.62% MidCap S&P 400 iS, IJH
4.58% Belgium Index, EWK
4.56% Telecom DJ US, IYZ
4.55% Spain Index, EWP
4.55% EAFE Index, EFA
4.53% Europe 100 BLDRS, ADRU
4.52% Aerospace & Defense, PPA
4.51% MidCap S&P 400 SPDRs, MDY
4.48% Japan Index, EWJ
4.48% Developed 100 BLDRS, ADRD
4.43% Dividend Achievers PS, PFM
4.38% Value Line Timeliness MidCap Gr, PIV
4.35% United Kingdom Index, EWU
4.35% Lg Cap Growth PSD, PWB
4.35% Leisure & Entertainment, PEJ
4.33% LargeCap Blend S&P=Weight R, RSP
4.27% Technology SPDR, XLK
4.25% Wilshire 5000 ST TM, TMW
4.15% Pacific VIPERs, VPL
4.15% Telecommunications Global, IXP
4.14% Value LargeCap NYSE 100 iS, NY
4.12% LargeCap Blend Total Market DJ, IYY
4.08% European VIPERs, VGK
4.07% Transportation Av DJ, IYT
4.06% Growth MidCap 400 B, IJK
4.03% South Africa Index, EZA
4.01% Growth S&P 500, RPG
4.01% LargeCap 1000 R, IWB
3.98% Software H, SWH
3.97% MidCap VIPERs, VO
3.95% Consumer D. VIPERs, VCR
3.95% Growth LargeCap NASDAQ Fidelity, ONEQ
3.91% Energy VIPERs, VDE
3.90% Value EAFE MSCI, EFV
3.89% Value LargeCap Euro STOXX 50 DJ, FEU
3.89% Technology Global, IXN
3.88% LargeCap Blend S&P 1500 iS, ISI
3.83% Internet Architecture H, IAH
3.83% MidCap Russell, IWR
3.82% Technology GS, IGM
3.81% Growth EAFE MSCI, EFG
3.80% Dividend Growth PS, PHJ
3.80% LargeCap Blend Russell 3000, IWV
3.79% Info Tech VIPERs, VGT
3.76% Value LargeCap Dynamic PS, PWV
3.75% Growth MidCap S&P 400, RFG
3.75% Industrial LargeCap Blend DJ US, IYJ
3.70% Growth SmallCap VIPERs, VBK
3.70% LargeCap Rydex Rus Top 50, XLG
3.67% S&P 500 iS LargeCap Blend, IVV
3.67% Utilities SPDR, XLU
3.60% France Index, EWQ
3.58% Euro STOXX 50, FEZ
3.58% Networking, IGN
3.58% Growth MidCap Russell, IWP
3.57% Utilities, PUI
3.57% LargeCap Blend S&P 100, OEF
3.57% MidCap Blend Core iS M, JKG
3.55% Semiconductors, PSI
3.55% LargeCap VIPERs, VV
3.55% LargeCap Blend NYSE Composite iS, NYC
3.55% Growth SmallCap Dynamic PS, PWT
3.51% Utilities VIPERs, VPU
3.50% Germany Index, EWG
3.47% Technology MS sT, MTK
3.45% Retail H, RTH
3.44% Industrials VIPERs, VIS
3.43% MidCap Growth iS M, JKH
3.41% Switzerland Index, EWL
3.38% Growth LargeCap NASDAQ 100, QQQQ
3.37% Biotechnology, IBB
3.36% Technology DJ US, IYW
3.35% Blend Total Market VIPERs, VTI
3.31% Brazil Index, EWZ
3.28% Telecom H, TTH
3.25% Utilities DJ, IDU
3.23% Netherlands Index, EWN
3.22% Consumer Cyclical DJ, IYC
3.21% LargeCap Blend Core iS M, JKD
3.16% Water Resources, PHO
3.09% Growth VIPERs, VUG
3.04% LargeCap Blend Socially Responsible iS, KLD
3.03% Healthcare Global, IXJ
3.02% Growth Mid Cap Dynamic PS, PWJ
3.01% DIAMONDS (DJIA), DIA
2.99% Energy SPDR, XLE
2.97% Italy Index, EWI
2.97% S&P 500 SPDRs LargeCap Blend, SPY
2.96% Growth LargeCap Russell 3000, IWZ
2.95% Global 100, IOO
2.92% Value MidCap Dynamic PS, PWP
2.86% LargeCap Blend Dynamic PS, PWC
2.84% Growth 1000 Russell, IWF
2.82% Utilities H, UTH
2.82% Software, IGV
2.77% Growth S&P 500/BARRA, IVW
2.75% Natural Resource iS GS, IGE
2.75% Energy Global, IXC
2.74% SmallCap PS Zacks, PZJ
2.72% OTC Dynamic PS, PWO
2.72% Growth Large Cap, ELG
2.71% Growth LargeCap iS M, JKE
2.65% Hardware & Electronics, PHW
2.64% EMU Europe Index, EZU
2.64% Energy Exploration & Prod, PXE
2.61% Energy DJ, IYE
2.59% Japan LargeCap Blend TOPIX 150, ITF
2.57% Consumer Discretionary SPDR, XLY
2.54% Capital Markets KWB ST, KCE
2.53% Oil & Gas, PXJ
2.51% Canada Index, EWC
2.39% Consumer Non-Cyclical, IYK
2.33% Dividend Appreciation Vipers, VIG
2.29% Materials VIPERs, VAW
2.24% Basic Materials DJ US, IYM
2.23% Value 40 Large Low P/E FT DB, FDV
2.20% Pharmaceuticals, PJP
2.15% Oil, Crude, U.S. Oil Fund, USO
2.15% Health Care VIPERs, VHT
2.06% Biotech SPDR, XBI
2.05% Industrial SPDR, XLI
2.02% Internet Infrastructure H, IIH
1.96% Healthcare DJ, IYH
1.93% Consumer Staples VIPERs, VDC
1.82% Pharmaceutical H, PPH
1.77% Biotech & Genome, PBE
1.58% Broadband H, BDH
1.47% Oil Services H, OIH
1.36% Bond, Corp, LQD
1.29% Health Care SPDR, XLV
1.29% Software, PSJ
0.77% Austria Index, EWO
0.65% Consumer Staples SPDR, XLP
0.51% Networking, PXQ
0.27% Biotech H, BBH
0.18% Commodity Tracking, DBC
-0.03% Materials SPDR, XLB
-0.08% Silver Trust iS, SLV
-0.28% Bond, Aggregate, AGG
-0.32% Bond, 1-3 Year Treasury, SHY
-0.45% IPOs, First Tr IPOX-100, FPX
-1.18% Bond, 10 Year Treasury, IEF
-1.32% Bond, TIPS, TIP
-1.46% Bond, 20+ Years Treasury, TLT
-2.96% Short 100% QQQ, PSQ
-3.11% Gold Shares S.T., GLD
-3.35% Short 100% S&P 500, SH
-3.53% Short 100% Dow 30, DOG
-5.09% Short 100% MidCap 400, MYY
-6.78% Short 200% QQQ PS, QID
-6.84% Short 200% S&P 500 PS, SDS
-7.25% Short 200% Dow 30 PS, DXD
-8.90% Short 200% MidCap 400 PS, MZZ