Stock Picks for August 15, 2007

We are still on hold for more stock picks.  We know some of our positions seem attractive at this level, but other than the buy on NYX, we are hold across the board. We know we sold the LEH stock pick for our first loss, ever, but it is down another 13% since then and where is the bottom for brokers in the situation they are in?  I hope all can see the wisdom in that sell now.  We get a lot of joy when selling for 10, 20, 30% gains, but nothing replaces the feeling of selling for a smart loss and then 2 weeks later having it reaffirmed! Stay put, and ride out the storm.  Remember our saying:  "In all of history, when the market has gone down, it has done one thing 100% of the time.  What?  It has gone back up!" Stay tuned, some incredible buys are coming.  Maybe even selling QID at a gain before we ride it back up!