NYSE Euronext (NYX)

[metropick]

Hello NBO!

I watch Cramer occasionally, but I missed the 1 yr anniversary of the Rant. It is hard to believe that that was 1 yr ago! It seems like yesterday that I first heard the word "sub-prime"...

I think you are right about staying defensive. I am a bit reluctant to create new long positions in almost every sector. Banks are too hard. FRE and AIG proves that to be the case. Health care, biotech, and pharma have already had a run. Materials may start slowing as consumers continue to lose jobs (US Jobless Claims +7K To 455K In Aug 2 Wk vs. Survey -20K), and we start seeing a bottom in the commodity pull back. Also, the Fed really has no where to go but up on interests rates over the next 6 months, which will cause even more equity losses in the housing market. I saw an estimate from some Prof at Stern Biz School yesterday, forecasting 10-15% more housing price attrition into summer 2009! I have also seen the dollar "strengthen" ($1.60 to $1.547) -- if you want to call it that, which may dampen some of the export biz we have been enjoying now for 2 years.

I just need to see better lagging and leading indicators going forward. Until then, I am storing my powder in money markets and some bonds. Also, I have opened a borker managed account with Boston Trading Research back in June. These guys have been yielding about 5% monthly returns over the past 19 months (before fees and commissions). They have professional currency traders and maintain a very conservative investment style. They do not invest more than 30% of your capital at a time. Link: http://btrfx.com/index.php
I can send you a borchure on BTR if you e-mail me at [e-mail]

In terms of the stock market, probably the only thing that intices me currently, aside from the rare spec play, may be nibbling at some recently battered energy stocks like PBR or CHK. Even associated energy plays like PX and APD may be good buys at these levels.

GL!


Your trading and investment choices should be the result of your own due diligence.