Now that the stock market has regained its footing, we can all sit back and enjoy the ride for the next few weeks. If any profit opportunities arise I will let you know.

I am happy to report that our market calls have been right on the mark. I have a job managing money, and I deal with portfolios and clients all day long. Some people have the time to sit and blog all day, and while this is entertaining, I only have time to post useful information when I see it. You will not see much jibber jabber in this blog.

For now, I am pleased with the bounce back in our oil stocks. Schlumberger (SLB) has been making new highs almost daily. Exxon (XOM), and Marathon (MRO)are beginning to decouple themselves from the price of crude, and Chesapeake (CHK) will bounce back when temperatures start to fall.

The Financials have bounced back nicely. While still out of favor, this group will be the next sector to benefit within the sector rotation process when the Fed stops raising rate.

As you can see, Wall Street is not waiting for the rate hikes to end before they begin building positions. Bank of America (BAC) and JP Morgan (JPM) are bouncing nicely, and CitiGroup (C) has been a laggard.

I really like our 2 telecom stocks, SBC (SBC), and Verizon (VZ). I don't think you can find a safer yield with a 20-40% upside anywhere on the NYSE.

Our 2 retail plays, Wal-Mart (WMT) and Best Buy (BBY) have actually outperformed the market. Coke (KO) and Anheuser Busch (BUD) are wonderful values and will eventually attract buying pressure when the economy softens.

Our move of selling half of our position in the Rydex Tempest 500 (RYTPX) bear fund, and putting those assets into the Rydex Titian 500 (RYTNX) and the Rydex Velocity 100 (RYVYX) has out performed their respective index two fold.