Rescue Bill Passes, but Stocks Sell Off as Economy Slows

That really does sum up this weeks action as headlined this weekend in IBD.
Rescue Bill was signed but US cuts 159,000 jobs in Sep.
The US economy is in trouble and we know how to profit from that!!
Of course we also no that this has been a reality for some time now. It was a year ago that the Dow topped out and has been deteriorating ever since.
Friday saw new lows with little support in the near term.


IBD 100
Even the IBD 100 stocks took a shit kicking last week and the over all quality of these best picks is no longer what you would call superior.
It is like picking from your cleanest dirty shirts instead of a new clean one.
Looking over the 100 stocks there even appears to be some great short candidates. Now that is bad.
ETF"s
The ultra shorts were obviously the big winners this week with most earning 20-30% returns in one week!!!!
Commodities
It is not only the financials taking a hit here. The commodities peaked a few months ago. (Remember when oil and gas were going to keep going up for ever)
New lows in Coffee, corn, cattle, copper heating oil, soybeans, cocoa, wheat, lumber, orange juice, cotton, platinum and natural gas.
Wachovia
You have got to love Citigroup sulking over losing that battle. You just know that the Wachovia shareholders are getting Royally reamed and the Fargo team is laughing all the way to the bank. (They will now be able to get a bigger piece of that bailout windfall no doubt)
This week
Again you just got to be riding the short side until there is any sign of a bottom here.
Still straddling the market for short term spike from the idiots willing to buy into this charade.
Watching gold closely for resumption of up move.
A COUPLE OF SHORTS FOR THIS WEEK:
THOR
ENER


Peter