#18 Dead wrong

Dead wrong on USB (no capital required) and STI (needs capital equivalent to 1/3 of their mkt cap). Good thing I am not a banks analyst. At least it was a small position. On the bright side, COT has saved us so far this month and UNH, ETR and TBT were strong performers today. YTD up 29.7% net of fees, due mostly to COT (up 200% this month).