The Deen's List Vol.6 #321

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 #321 Tuesday, October 21, 2008 12:22PM 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) +0.4%
Open Positions
Subscription Information
Privacy Policy
Disclaimers
Contact Us

Performance

Deen Capital S&P 500

Year-to-date as of October 20, 2008 -19.1% * -31.8%

12 months (Oct 20, 2007 to Oct 20, 2008) -16.8% * -32.9%

* 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) +0.4%

Net sell price in managed accounts* $95.81

Date(s) bought Oct 17 2008

Net buy price in managed accounts* $95.44

Holding period 0.6 weeks

Gain/loss in managed accounts* +0.4% (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, Tuesday, October 21, 2008, I sold SPY, first for client accounts, then for my personal accounts.

I bought SPY on Friday, anticipating a short-term counter-trend bounce. We did indeed get a very nice bounce yesterday, though volume was light.

I sold out this position this morning, as our profit was quickly evaporating. We managed to eke out a tiny gain -- not nearly as much as I had hoped -- but at least it is a gain.

We're back to 100% cash now. Cash is the place to be in this still extremely difficult and risky market. My indicators remain unanimously bearish.

-KD, Tuesday, October 21, 2008

Open Positions

Model Portfolio

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

Cash 100.0%

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