I've taken the time to review all the moving parts after yesterday's close, so I thought I'd present my two cents in what I think will occur, and where the best risk rewards can be found.

First of all, is it a bottom?

It didn't really matter what sector you were if this past week. If you were long, you probably got a little bloodied. But that was then, and this is now. What's next?

I'm sure a lot of you are wondering, "is the correction in coal over?" Well, I don't know. But I can tell you what I think and how I plan out a strategy in reaction to what has and may happen.

The day started out like pretty much every day in the past few weeks. The broader market acts weak, oil remains at its high, and commodities (especially coal and natural gas stocks) make new highs almost daily.

But then we come across the woodshed.

I thought I would try something new today. Let's call this speculation.

True Religion (TRLG) is a (yes - that's right - a retailer!) high end branded apparel maker. Their primary market is in the US.

I have to say that Blackrock's (BLK) chart looks just putrid. Over 20 points ago, I tended to believe that BLK was actually a beneficiary of the Bear Stearns (BSC) fiasco, but now, it seems to be suffering indirectly.

The sudden sell-off in this stock left me wondering what I was missing. It's not uncommon that the outside "retail" investor is not privy to some of the information that moves stocks. And it looks like this is one of those times.

If you're interested in a more conservative portfolio - one that provides an excellent yield (this one currently has 8.4%) and has a little growth potential - here's a starting point to start to put a diversified portfolio together. I'll be adding more candidates to the list in the future.

Canadian Oil Sands Trust (COSWF.PK)