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Thursday, May 6, 2010

Update, 05/07/10

Current Holdings
Ticker Basis Closing
Price
Perf. Sell-Stop Addl Exit Guideline
SKF 17.33 20.26 +16.9% 16.92 N/A
SDS 29.09 32.85 +12.9% 28.77 N/A
QID (?) 15.47 17.66 +14.2% 15.27 N/A
TWM 17.63 20.44 +15.9% 17.14 N/A
RGLD 49.33 50.33 +2.0% 47.78 N/A


Not sure if we're still holding QID. If you got stopped out, ask your broker if you can bust the trade. Ask also for a times & sales report. But the day's range shows that it hit a low of 4.95 during a phase of market recovery from the extreme lows.

They're blaming the crash on a mis-entered order, but it doesn't matter how it happened. Live and die by the sword. High-frequency trading helped prop up the market the past year or so, and one consequence is that the market relies on it now.

Today's action cleared out all the stops below for a while, but you'd expect some recovery phase in the coming days. But who knows - this is new territory.

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