To honor the dumbest kid I grew up with, lets go with Foufas Warrior in todays Preakness. At 20-1 you can do several things to bet him. For $10 you can bet him to Win, Place, and Show ($6 bet) and box him in the exacta with Kentucky Derby winner Funny Cide ($4 bet).

Disney sold the World Champion Anaheim Angels for $185 million today. The entire team = $185 million. Ten years of Alex Rodriguez costs $255 million. The Texas Rangers I am told are worth less than the Angels. So who is better off Alex Rodriguez or the owner of the Texas franchise? A-Rod has a risk free deal--his owner can't say the same. But as in any mania---Stocks, gold, tulips the ridiculousness always comes out, and this my friends is no exception!

As SNE has moved up so has our sell stop. We have increased it to $23.90 from $22.90. Always move your sell stop up to lock in profits, never move it down. If people did this in the bull market, there would be no lawsuits.

A good point to take profits from this powerful rally off the lows is the 960-965 area in the S&P 500. There seems to be long term resistance in this area. And it is also a good reference point to start loading up on some shorts.

Our Model Portfolio to Date:

Long AETC @ $2; current price $1.91- Hold
Short IGT @86; covered at $89.05 for a $3.05 loss
Short MTG @47.05; current price $46.68-Hold; sell more below $45
Long GLW @$5.50; current price $5.90-Hold
Long SNE @$24.50 and $24.75; current price$24.53-Hold/Sell stop below $23
Long KROL@$23.75;current price $24.25-Hold