Market Down For the Count

The market still can't get any traction. Stocks remain at the bottom of the tank. And there are concerns about the Euro. Stocks in the housing sector remained depressed.

Dow closed on Friday at 10,992.13     -303.68    -2.69%
Nasdaq                            2,467.99      -61.15      -2.42%
S&P 500                         1,154.23       -31.67     -2.67%

Here are our picks for shorting and how they performed.
TIN closed at 31.05 up +0.16%
SWS closed    5.25  up +3.55%
MTG closed   2.37 down -12.22% (MTG might suffer the same fate as PMI, unless housing recovers)
CONN closed 8.02  up  +4.16%
CALP closed 10.45  up + 0.19%

At the beginning of the week we were looking at GKK trading at 3.17, and it ended the week 3.38. We also looked at LIZ trading at 5.52. LIZ closed at 5.05 so this was a good short for us. The final stock we liked was CEDC trading at 7.10. Friday it closed at 6.08. This one was a home run for us.

Investors were disappointed with Ben Bernanke because he did not detail any new programs to stimulate economic growth. Also, there are concerns that Greece might default. Add this to the downgrade of the US by Standard and Poor's we we can understand why stocks are declining.

Look for our sell short picks for Monday.

P.S. Please pray for the families of all those that were killed or injured in 911 tragedy.