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Market Tracker, 4-30

|Includes: DIA, IWM, NTR, ONEQ, SPXU-OLD, SPDR S&P 500 Trust ETF (SPY)

      The market continued its slide today as expected. There was heavy selling, especially right at the market close. There is no sign that this sell-off will end in the next few days. My prediction is that it will continue until SPY is somewhere between 1115 and 1150. These are both important support levels and are also very close to the Fibonacci range of 38-62% retracement. Potash will probably move sideways during this period. I would be surprised to see it move much up or down next week. I'm going to hold onto it on the hopes that when the down segment ends, it will power up to around 130. In the mean time, my short position will more than offset any loses that Potash creates, as it did today.

Disclosure: Long POT, SPXU