1) "PSYCLE SENSE sm":
Gee, by just reading sections (2) and (3) recently, and VIEWING some charts patterns, you have become a master of I.G. Rotation, yes ? Even allowing for somw very quick, very small cut losses, I cannot believe you might have missed buying puts, say, in an Oil Svc. stock, or calls, in Golds, etc. Such nice, clear patterns, initially....As were the Retails, Office Stores, Utilities, Papers, Internets, Brokers, etc. as they turned, opposite what the "experts" were saying....The Aero/Def. and Techs were more iffy, on hindsight....But there still remain many exploitable stocks, long and Puts....longs, as EVB's or little bases, and Puts as S.T. umbrella tops....

"Market-wise", the "Closing Tick" on NYSE, Tue. 24 th, at the close, reached S.T. overbought levels, normally seen near S.T. tops, again....and, while it is NOT yet a tradeable trend indicator, the recent "% of bullish advisors" reading has fallen recently, from 50.0 % bullish on 8/13, to 44.4 % bullish this week.... which, normally, would be LESS bearish, haveing fallen so quickly, right ? As I said, this is a "split" market, exploitable in both directions simultaneously, which you should be used to, by now....With too many "potential double-tops" are breaking out (up), so, again, we will not fight the tape....not an easy market all of a sudden, ay ?

Please appreciate, how much time/effort I put in, to put ALL applicable, staged, stocks, which fit learnable, and actionable, "PSYCLE sm" patterns, into each NL....Sometimes fewer, sometimes more, as befits market conditions....again, the "Most Actionable, Do-able, stocks, Here/Now", are in Section (3). And, the "Learning/feeling/Sentiment/commentary" items, are in section (2). Longer lists, and Industry Groups, are in section (6) and (7)....and all "follow-ups", are in sections (4) and (5). Of course, if you do not own any of the stocks in sec. (4) or (5), you may choose to save time by Ignoring those if you wish....Eight, very clear NL "sections". You have No excuses for not taking advantage, over time.

2) "What's Been Said, and What I've Read":

a) Important Industry Group (Rotation) notes: 1) we did it again, just as "Wall St." began to get super-bullish on the Gaming stocks, as mentioned herein recently, we got a S.T. top in them, yes ? are you learning ? ....2) with our BHI, WFT, SII, WGR, BRR, AHC, RDC, MRL, APA, TOT, etc., I gave you, I still see rolling top in Oil Svc. stocks....and, finally, a top in Crude itself ? ....3) is Nikkei. forming a S.T. double-top ? if so, it is, as usual, just as "the 95 %" began to get bullish, dig ? ....4) the Philly Semiconductor Index, made a minor new high Tues. 24 th....which I did not predict ....but I still say they are all overbought, and must top, and correct.... remember, as taught you in my "Downside/Puts" booklet, even in an upside-down saucer chart pattern, there must often be a "high" in the middle, right ? I am not concerned.... 5) the sept. T-bond yield down to 5.86 % already, Wed. 25 th....Again, when/if it can get under the 5.70- 5.75 % area, would be real good for the bond....we shall see...and, while I hate fundamentals, if I am right on the economy slowing, wouldn't that mean lower I.R.'s, not higher rates, counter to what "the 95 %" have been expecting since I called the recent double-bottom in the T-bond ? being in the minority pays off more often, as you have seen.... 6) and, you know I eschew Fundamentals, but, you gotta know, that I have been noticing, in the Daily Graphs chartbooks' "eps" tables, I am now seeing many 'year-ahead earnings estimates' for Tech. stocks, being LOWERED by S & P (which is cool, since they usually miss even such Fundamental things, which I end up predicting)....also interesting, since I hear NO one else around, pointing this potentially bearish item out, dig ? Many of these stocks are already extended, and are already selling at 50-80 PE's, hence, my continuing caveats....

b) more, misleading, sensationalized, and/or improper/incorrect comments from the Financial Media, Reporters, etc.: 1) Tue. 21 st, 9:45 am, CNBC's Bob O'Brien, pushed, MCRL, SEBL, LSCC, EMLX, KIDE, as "attractive stock split issues here, fundamentally and technically"....while we were wrong, once, for a VQ, VS loss in KIDE, these are all anything but attractive up here....the others are on my potential Put list, as you know.... 2) Tues., Joe Kernan showed chart of "PWR" a puttable I gave you herein at high, but just missed, saying, "there is no way to explain its stock price drop." Oh, yeah ? Ever read chart patterns ? call me, and I will teach you.... 3) Wed., 9:05 am, when the CNBC gal reporter said, "we go live, to Tom Costello", he replied, "uh, I am always live, EVERY day...." Therefore, there is no need for her to say that, is there.... 4) Wendy Katz, reporter, KWHY-tv, Wed., 10:15 am, said, "should stay away from Internet stocks, too volatile...." Excuse me ? If one is correct on direction, and one uses close stops and diversification properly, isn't "volatility" a GOOD thing ? You know how I view the word, "Volatility"....I hope you also view it the same way.... 4) L.A. Times, Edward Silver, 8/24, had big bullish puff piece on the Internet "E-commerce enablers" stocks, raving about how the "infrastructure companies" are now more attractive, than those companies that actually "sell the stuff"....I'm sure you have heard this said, recently, many times, by Financial Media sources....and always Late, as usual....Gee, seems I heard this before, because that's similar to what these same kinds of Financial and Media people all said, about how "companies that sell stuff on the Internet, are better than regular retailers", just as THOSE stocks topped, a while ago, remember ? As he pitched RBAK, JNPR, ARBA, CMRC, INSP, PRSF, as "attractive here", etc., the pattern is likely to repeat....therefore, caveat enmptor with these, up here, right ? get it ?

5) CNBC, Wed., noon, only AFTER many Bank stocks have fallen, as I was first/only to have predicted here for you, interviewed a Bank stock analyst, about supposed "problem consumer credit loans" upcoming in such companies....I say, excuse me ? Let me get this straight: until recently, all those same analysts were raving about how great everything was going to continue to be, "the best oif all possible worklds" they said over and over, yes ? and, how, the Banks would continue to make money, with no risk, hand over fist, for the forseeable future, yes ? But, of course, No one else predicted even a S.T. top in their stocks.... and, Now, only AFTER their drops, especially our "ONE" (which I gave you herein near their tops), CNBC poses this question....get it ? yet, NOTHING has really changed for "consumer credit loans"....they have continued to ring up tons of credit-card debt to people, yes ? which has also been going on for years unabated, yes ? and, somehow, only now, that's a problem ? See why we eschew most fundamentals ? We'll stick with the chart patterns....and teach you how to ignore such "late" drivel.... 6) then, Tom Costello, CNBC, Wed., 12:15 pm, uttered potential 'famous last words', saying, "the little drops we're seeing among Semiconductor stocks, is just a little blip, on the way to much higher prices...." wow....as I said, caveat emptor.... 7) Wed. 12;35 pm, CNBNC's Joe Kernan actually misled, saying, "we're seeing huge hits to the Paper stocks....J.P. Morgan and the Banks are getting killed....the Chemical stocks are getting hammered...." I am not kidding....it is getting more difficult to pin the title of "Mr./Mrs. sensationalizing" on that station, isn't it....NONE of the "small percenbtage price drops" within those groups nor individual stocks have been even remotely, those "words" he used, have they ? as usual....re-read my "Scenarios/Words" booklet.... 8) Thu. 26 th, 9 am, CNBC's Bob Pisani. (again) incorrectly said, "the Key in this market, is whether the 'commodity' stocks can continue their recent strength and leadership...." Interesting, since the total market value of such stocks is quite small, compared to most all other I.G.'sm, and, since when does the movement of commodity stocks rule "the market" ? Ridiculous.... 9) I am NOT politicizing/editorializing in any way, but, Thu. 26 th, 10:25 am, CNBC gal reporter, interviewed the gal publisher of a new "Latina" magazine, and, unbelievably, both spoke of "the re-latinization of america"....twice....Excuse me ? If I am wrong on this, please let me know, but, exactly when was the U.S., a "latina" country ? don't get me started....The publisher also actually said, "our goal is the Latin domination of this country"....again, I am all for free enterprise, of course, but my complaint is that the Media often contributes to the problems in this country, here, by over-slanting this kind of item, dig ? Anyway, the successful Spanish Media 'stocks' are ALREADY way up, and are NOT cheap here anyway....If anything, CNBC should/could have reported this as a "budding" trend, years ago, at much lower levels, right ? But, as you know, asking them to give any future trend near its bottom stock prices, is just too much to ask for....read my little blurb in sec. (8) below....

c) more incorrect/improper/misleading Media comments/announcements from "Fundamentalists/Companies/newspapers/mags", etc., vs. illogical/contrary/unlinked stock prices moves, etc.: 1) gee, let's see: as I was the first/only to point out here for your benefit, the "expert fundamental analysts" (and the CNBC gang) got all bullish on the Paper stocks (our, IP, GP, WLL, MEA, KMB, etc.), right at their recent highs, yes ? yet, today, the WSJ reports Weakness in paper prices, and, Wed., Bob Pisani. shows IP, GP, etc., down....hmmmmm....if they had just interviewed ME to balance their choice of "experts", millions of people would have saved/made billions of dollars....As usual (re-read my "Media" and "Scenarios" booklets), not only were the "experts' wrong on the STOCKS, they were even wrong on the very Fundamentals they are overpaid to supposedly know, yes ? boggles the mind.... 2) L.A. Times, 8/24, headline, "Apria health improving.... outlook upgraded by S & P"....as I first pointed out here in May, S & P, and Prudential, joined several other firms, in upgrading "AHG" to 'strong buy'....up here, at $ 17+....interesting, since none of them liked it at its lows, when I gave most of the depressed-hated-health-care stocks as buys, herein, and was, as usual ignored....anyway, such a unanimous bullish opinion warrants caution, yes ? Let's see who's right, again, ahead.....

d) more, likely late, incorrect, and/or misleading, comments, from Brokerages, NL writers, Analysts: 1) gotta say something true about Joe Battaglia, the "always bullish pitching Gold" guy on KWHY-tv, for years now....recently, his comments have been truly hypocritical....He criticizes a recent Navy study for "positively spinning" their Y2K readiness, then he peddles gold by spinning his own scary Y2K stories and warnings (as if that might affect future gold prices anyway --- don't get me started)....I have never heard him talk technicals, charts, patterns, nor sentiment, nor teach people valuable things, and he has never been bearish on gold, for years now....No editorializing, just the facts....but I have rarely seen him make others much money by beging constantly bullish on gold, and we all know how most all coin/bullion dealers operate....hey, he's just a fortunate, super-marketer....is this good or bad for others, or the industry ? ....2) hey, F. Barbera, KWHY-tv, Tue., after close, showed chart overlay of "Crude oil" vs. "T-bond yields", and, in last 12 months almost identical....hmmmm....therefore, a S.T. top finally, in Crude ? ....3) Wed., MER correctly, suggests that earnings comparisons for most Retail companies will be less favorable, ahead, cutting their ratings....good for them, they got one right....fundamentally....BUT --- "PSYCLE sm" lesson --- one had to have given one's Put/sell recommendations, a while ago, BEFORE they fell, yes ? when we did....and they did NOT.... 4) in another amazing stab in the back of better/good prognosticators like us, CNBC had a useless guy on, from J.W. Seligman, projecting a DJIA of 100,000 (the Media loves round, meaningless numbers), at 11 % a year growth, ad infinitum, by the year 2020....citing all sorts of ONLY fundamental "factors", but showing NO technicals, teaching nothing, saying nothing new or useful....Interesting, he only publishes his book, at DJIA 11,000....and only got on, probably, because he's with a huge money mgmt. co., someone at CNBC probably knew....where was this guy 5-10-15-20-25 years ago ? dig ? CNBC never asked of his background, L.T. track record, prediction record, etc., did they ? and they still ignore me....what a waste.... 5) CNBC had mgr. of Berger Balanced Fund on, Wed., 11:40 am, saying, when a juvinile caller-in was all excited about wanting to buy it way up here, "Best Buy is a great stock, they are doing everything right, I think it will go significantly higher, our target is 80-85 in the year ahead...." Hmmmm, first, I put my ex-clients into BBY near $ 5., nice long depressed "PSYCLE sm" base, when even their corporate execs were bailing out, and rumors of BK abounded....second, even 80-85 is not much higher than where it has been recently, and is NOT, "significantly higher" anyway, yes ? Misleader....third, tons of insider sales up here, and, at PE over 50 times NEXT years' estimates, exactly what is this guy smoking ? so why even say anything, guy ? Last, I hate it when an analyst fails to teach a young person things of value, with respect to future-price prediction patterns....shame on him....That young kid's gonna pay $ 75. for BBY, and learn negative things, when he could do so much better elsewhere, and learn positive things....

As you have seen over the last year, how well one does, just "doing" the best individual stocks, and Ind. Groups, chart-technically, and sentiment-wise, mostly long-side, while ignoring, or going contrary to, 95 % of all Media messages, and "indexes/averages" comments, from the peanut gallery ? By just getting my output, alone, you do much better, and save time, by not having to even try to "seek, and process" tons of other, useless fundamental info., anyway....and we also help remove potential emotional problems before they begin.

3) Most recent Hypothetical "PSYCLE sm" transactions, to be mimicked, and referred back to:

Always remember to view "1-year-at-least past" charts of everything you can view, herein, along with their 200 day moving averages (DMA's), to "see/learn" the "PSYCLE patterns", and see where/when stocks in section (3) were Hypothetically bought near lows, and put near highs....note: (Q = quick; i.e, was less than 2-3 months holding period ....VQ = very quick; i.e., was less than 3-4 weeks holding period)....and "VVQ" means it was held even shorter-term than that....

Also re-read "the Guide" for how I derive the Estimated % percentage Gains I show herein, on assumed Hypothetically closed-out trades (always assumed to have been in Options, where applicable/suitable, and on margin where available/suitable/logical, and on a cash basis where not, as per "PSYCLE sm" tenets)....and "bal." here in section (3), means, "the balance" of assumed long positions, assuming an initial "1/2 pos." sale....and, "css" means "covered (previous) short sale", where no puts options existed....