Friday afternoon

It has been a wild and wooly week on Wall Street and we suspect that next week may not be a whole lot different. The much heralded bailout was approved by Congress today and signed into law by President G.W. Bush. The market dropped shortly thereafter. We hope most sincerely that you are adhering to the 11 Commandments of Trading. To not do so is to invite disaster.

We wish you a wonderful weekend and we'll be in touch soon. The Psychology of the Call Team.

The Eleven Commandments of Trading

1. Never trade more than 10% of your total capital/account value in any one position.

2. Cash is King, and we recommend keeping 20% liquid to take advantage of dislocations and volatility.

3. Cut losses to 15% maximum whenever possible. If your psyche is shaken, step away and don't trade for 1 week.

4. Take and enjoy profits of 30% or more.

5. Never fall in love with a stock and never force trades or over trade; remember commandment #2.

6. Never accept excuses from management, period.

7. Use technical and fundamental data & psychology/sentiment from the conference call to select trades.

8. There are two sides to the market, long & short; take advantage of that leverage.

9. Understand the significance of the macro geo-political economic environment.

10. Unforeseen events/shocks will happen, inverting the market upside down (remember commandments #1 & #2)

11. All of the above are void without reading the Psychology of the Call.