This report is a 75-page 13MB file that took me almost two minutes to download by hi-speed DSL connection. Hi-speed cable is a faster delivery system (roughly 13 seconds), but regardless of the access time, I think you will find it worthwhile.

Like CTAB itself, the Briefings break with the traditional report model, which simply presents facts and gives opinion. The CTAB way is to present the facts and our opinions along with an extensive sampling of other analysts’ opinions. We add the insights of members of our global trading and technical analysis teams, who put their names and faces next to their work. To that we add discussion of our trading philosophies and methods, and we show you our results. The CTAB Briefings tell you how we view it and show you how we do it.

I want the CTAB Briefings to provide more than static facts. My hope is that you will improve your own results by understanding and, to the extent possible, apply my systematic approach to effective capital management.

Note: The file at that location was updated at 8:39 AM EST with some minor changes. If you downloaded it before that and want the latest version, you'll have to go back and do it again. Sorry for any inconvenience.

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ADDENDUM: 1:00pm ET Thursday Nov 13

GG hit $17.75 at 12:59pm ET, which was subsequent to our stop at $18.90. We went long, and took an additional risk position in GG. We believe we are close to an inflection point with respect to the broad market sell-off. Investor psychology and sentiment are near extremes, markets very oversold with some important stocks nearing support levels. Our traders just need some confirmation from price action before we will extend our risk profile to additional stocks.

With put writes, our cost basis for GG is significantly lower than $17. Should the market turn against us, our options strategies will protect us, and we shall use the opportunity to subsequently take on more risk.

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http://tinyurl.com/6cy2n7

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ADDENDUM: 4:08pm ET Thursday Nov 13

GG closed at $22.65. With a long call position, our three hour performance was greater than the +27.6% in the underlying stock this afternoon. Float like a butterfly; sting like a bee. Boy, I love this business!

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