2008 Performance (Details) :  Aggressive Growth +61%  ;  Large Cap Growth +28%  ;  Nasdaq -41%

Free Registration to access information.  After Free Period, only Subscribers get Complete and Timely content. <><><><> The market staged a noteworthy turnaround past week, which was highlighted by absorbing the jolt from a potential bankruptcy of carmakers, and by posting meaningful gains subsequently during the week.  As we had noted last week, this market is willing to fight and not surrender its gains meekly.  Nonetheless, the past week provided many examples of some strong earnings growth driven stocks that simply limped along during the week, posting pull-backs or just merely consolidiating, and consequently underperforming relative to the major stock indexes.  Such stocks are represented in our growth portfolios and these stocks had outperformed the market earlier this year, when the stock indexes were buckling or wishy-washy.  Recently the Nasdaq's big behemoths like Cisco and Microsoft, have been driving the index sharply higher.  At the same time, the rally has been so broad that low-priced small-cap stocks have been lifted substantially higher in a short period, boosting the Russell 2000 index sharply.  Mostly, over the past 1 to 2 weeks, it's the laggards and old-leaders of past bull markets that have been pushing the indexes higher.  Leading stocks will need to lead once again for the market to move higher.  The time has now come for earnings to take center-stage.  As the earnings season begins to pick-up pace from next week onwards, we believe the fundamentally strong growth stocks in our portfolios will bide time and wait for earnings to provide them with further guidance.  We see consolidation ahead.  At this time we remain 100% invested.  Graycell Advisors

2008 Performance (Details) :  Aggressive Growth +61%  ;  Large Cap Growth +28%  ;  Nasdaq -41%

Free Registration to access information.  After Free Period, only Subscribers get Complete and Timely content. <><><><> A sharp rally in the markets last week, triggered by the Treasury plan for toxic assets, culminated in the best 3 week period for the stock indexes in many decades.  With indexes rallying close to 20% in a very short period of time, it will now be time for some consolidation.  The news over the weekend about the conditional aid to automakers and the willingness of the government to allow the automakers to proceed through some controlled bankruptcy filing, is going to jolt stocks.  However, it will be quite telling to observe if the market is able to overcome such news and consolidate at these levels.  Even though the automaker potential bankruptcy news will be perceived poorly by the market initially, it demonstrates more cautious use of taxpayer money to bail out industries in their present form - a positive.  We believe there is a good chance the market will consolidate, rather than meekly turn-over.  We will be positioned appropriately.  At this time we remain 80% to 100% invested in our various portfolios.  Graycell Advisors