8/5/2009

• no systemic swing trade entries for today's close...
• FAS continues to power on up, +8% today while the major market indices pulled in 0.40 - 0.90%...
• this puts the FAS positions in the IRA and custodial accounts up 38-71%...first sales level at 74 could be hit in the next few days...next level in the mid 80's, perhaps as soon as next week...unless the character of the market changes considerably in the next few weeks, i am confident these initial sales levels will be hit soon...

Disclosure: Long FAS.