The Deen's List Vol.6 #315

The Deen's List^TM

Our Goal: To outperform the S&P through up markets and down.

A service of Deen Capital Management, Inc. (www.deencapital.com)

Vol.6 #315 Monday, September 29, 2008 2:52PM EDT

Please read carefully our disclaimers at the end of this newsletter.

Market Stance: BEARISH (since September 24, 2008)

Contents

Performance
Sold S&P Depositary Receipt (SPY) -7.8%
Open Positions
Subscription Information
Privacy Policy
Disclaimers
Contact Us

Performance

Deen Capital S&P 500

Year-to-date as of September 26, 2008 -17.7% * -16.1%

12 months (Sep 26, 2007 to Sep 26, 2008) -14.5% * -18.9%

* An average of managed accounts, net after all commissions and fees.

Click here for more performance data.

Click here for information on managed accounts.

Sold S&P Depositary Receipt (SPY) -7.8%

Net sell price in managed accounts* $113.47

Date(s) bought Sep 19 2008; Sep 25 2008

Net buy price in managed accounts* $123.08

Holding period 1.6 weeks

Gain/loss in managed accounts* -7.8% (after commissions)

* Buy and sell prices shown are net after commissions and fees. This means that the gain/loss shown is also net after transaction expenses.

Today, Monday, September 29, 2008, I sold SPY, first for client accounts, then for my personal accounts.

There are any number of reasons to raise cash even further today:

- The SPY is trading below my stop-loss price, which I had set at $119.90.

- This morning, it looked like we had a bailout package from Congress, and yet the market went down. This points to a sharp and negative change in psychology. The bailout package was supposed to calm investors' nerves, perhaps sparking a rally. Didn't happen.

- This afternoon, we learn that the House of Representatives rejected the bailout plan, making a bad situation much worse.

- Needless to say, my indicators are unanimously bearish.

- The S&P is down 6.8% as I write this on extremely heavy volume. The market is in Farrell.

By the way, managed accounts are down today, yes, but far less than the S&P.

We are now 94% in cash, 6% in one gold stock.

-KD, Monday, September 29, 2008

Open Positions

Model Portfolio

Company Name Stock
Symbol Buy
Date NetBuy
Price* Current
Price** Weeks
Held % of
Portfolio Gain
(Loss)

Royal Gold Inc. RGLD 09/18/08 $37.74 $37.35 1.6 6.1% -1.0%

Cash 93.9%

Total 100%

* Buy prices shown are net after commissions and fees.

** Current prices are at least 20 minutes old.

Subscription Information

Welcome to The Deen's List^TM, an e-mail stock newsletter from Deen Capital Management, Inc.

My intention is to inform you as quickly as is practical regarding my stock market moves. When I buy or sell a stock, first I take care of client accounts, then I buy/sell for my personal account(s), and then, third, I send out this newsletter.

Your feedback is welcome. Send e-mail to deenslist@deencapital.com. To subscribe or unsubscribe, include the word "subscribe" or "unsubscribe" in the Subject line.

This newsletter is free to managed account clients. For a limited time, it is also free to all interested parties.

Your personal information, including your e-mail address, will be held in strict confidence by Deen Capital Management, Inc. We will not share it with or sell it to others.

Disclaimers

All stocks discussed in The Deen's List^TM involve a high degree of risk. It should not be assumed that any stock discussed in The Deen's List^TM or purchased by Deen Capital Management, Inc. will be profitable.

Past performance is not necessarily indicative of future results.

The information contained herein has been compiled from sources deemed to be reliable; however, we are not responsible for its accuracy or completeness.

The Deen's List
PO Box 30925
Santa Barbara, CA 93130
(800) 353-4990
deenslist@deencapital.com