Friday the 13th came and went and unlike previous "Friday the 13ths" provided a respite for investors buffeted by previous market sessions and economic reports. Our skepticism at the U.S. Administrations claims of an economic recovery continues to be supported by the less than enthusiastic response to government data especially that associated with the labor situation. We continue to question how a weekly first time unemployment number exceeding 350,000 can be ignored in favor of the monthly number of around 80,000 jobs "created". The unemployment rate of 8.2% is not a true reflection of the labor situation since the "underemployed" people who accepted jobs well below their recent salaries just to put "food on the table" are not being considered as an integral part in the calculation. It also fails to include those that left the workforce entirely and those that retired prematurely. That more realistic figure, in our opinion, would be closer to 19%. The unfortunate revelation of yet another brokerage firm caught up in fraud and mishandling of client funds reflects the inability of the regulatory factions to properly control these firms and their activities. The call for "more regulations" makes no sense to me. The enforcement of existing regulations should be the order of the day. Now for some actual information that hopefully will enable our clients and subscribers to trade successfully......Interest Rates:September Treasury bonds closed at 151 and 6/32nds down 14/32nds as the transition from the relative safety of treasuries to the riskier assets such as equities and precious metals resumed. Expectation of additional stimulus measures after China reporting slowing economic expansion China is the world's largest consumer of raw materials and second largest economy. Treasury prices declined after the U.S. reported an increase in wholesale prices for June, the first time in four months. The better than expected report from J.P.Morgan prompted buying in equities which prompted the sale of the "safe haven" Treasury market. The weak dollar also spurred new buying in commodities. We continue to believe the U.S. economy is in or headed toward another recession and that could drive the U.S. Federal Reserve to consider additional remedial action. We do not feel the Fed has any more "arrows in its quiver" and the economy will have to run its course as will other International economies. We continue to view treasuries as in a trading range with yields remaining at or near all time lows.