Stock Picks for September 19, 2007

The fed lowered rates more than everyone was expecting and the markets responded, as did our stock picks. We could have gambled on the cut and opened a few more stock picks before this cut, but we don't gamble, we invest.  Over the long term, we will be more successful.  We have seen it go the other way plenty of times.  It still may. If this cut repairs the credit markets the markets will come back, but we are still in wait and see mode before a new stock pick.  We want to get a buy or two more in for the next pullback.  Tomorrow we will release the tech stock pick. NovaStar termintated its REIT status and ended its dividend.  Impac also termindted its payout. Stopped most lending. Accredited Home Lenders said it may not be able to resume lending. E-Trade slashed estimates over mortgages, exiting some parts of this business. Foreclosures double.  Housing issues are not behind us.  A fed cut is just psychological for us, not the problems inherent in these business'. However, the House did pass a bill which would allow tens of thousands that are deliquent on their loans to refinance.  This could be way bigger for the housing market than the rate cut.  The White House looks like they will not veto also.  Great news. Apple continues to advance as iPhone prepares to rollout in multiple other countries.  There are some other exciting tech stock picks we are ready to enter.