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March 16, 2007, 7:30am.

At 1392.28 5.11, the S&P 500 index performed adequately to extent the advance for five out of the past six sections. A positive event even after the former Fed Chairman Greenspan cried about the extent of subprime mortgages to weaken other sectors of the economy, notably the struggling housing market and hemorrhaging subprime lenders. Even with his noise, the general market advanced. So what's going on? Bargain hunting maybe, especially following the 242-point drop in the Dow industrials on Tuesday? As originally suggested, our focus is much simpler. As long as the S&P index trades within the predefined channel (1375-1415) all is well at the Dart..

March 15, 2007, 7:30am .. ...The S&P 500 index remained above 1375 until 12:07pm and dropped within the next hour to 1365, only to quickly reverse to close at 1387.17 9.22. Such wild action was attributed to this Friday's quarterly options expiration, known as quadruple witching because the simultaneous expiration of index options, stock options, index futures and single stock future. The result created excess volatility and yesterday was no exception. Considering this conclusion, the next problem is to determine which direction the general market will go. Since the S&P 500 index closed above 1375, technical support has not been violated. On the upside, resistance at 1415 is sufficient to establish a trading channel. It remains probable that yesterday's gains would not last, but if the market shows near-term strength, 1415 becomes an important confirmation. .. Once you step back from the energy the major issue remains - Whether potential defaults by subprime borrowers will spill over into the broader economy? Yesterday's talking heads cried that the concern was overblown. Stay the course with a defensive posture, reducing any exposure lack near term potential and be prudent. ... Thursday and Friday inflations numbers are due, which might fuel concern that the Fed may not cut interest rates and loosen credit conditions to provide a needed boost to the economy. Same old story - but this time around the noise is loud enough to make believers of Wall Street pundits. The flip page - With jobs and wages still strong, the focus should be on economic growth rather than inflation, therefore, a rate cut would insure much needed liquidity into the system. As the bulls and bears fought for territory, investors are blinded by the dust. Step away from the action and allow the air to clear. The next round is next week when the Fed meets on interest rates.

March 14, 2007, 3:04pm .. ... With the S&P 500 index above 1375 a technical bounce is likely. However, maintain a low profile until further confirmation to extent of advance. Sell into strength and reduce whatever marginal positions still remaining in your portfolio. .... 7:30am ... ...The S&P 500 index is within two points of violating technical resistance at 1375. A decline below that number would signal a major shifted in sentiment, creating sufficient downward pressure to test 1290.93 (low of 08.11.06). Thus, today should give us an indication as to the extent of the damage. Closing at 1377.95 28.65, the index is below its 100 day moving average, while 1300 would be the 200-day moving average price. Therefore, the advance since September 11, 2006 to 1461.57 requires a proportionate decline within the trading ranges indicated above. Since we anticipated that any advance would be short lived, yesterday's contraction was considered within the structure of SHF portfolio. Remaining defensive, trading both sides of the market and taking advantage of special situations had worked as predicted. Now, the time is to step back and allow time and fear give us a cohesive look at the future. ... Stay true to the program outlined by the Dartline column and the portfolio decisions. As indicated below the portfolio is well positioned with an unrealized profit of $2,473,399.92. That performance was not happenstance, but created by building upon what the market offered and taking advantage of greed and fear. Our members and friends watched the decision unfold and the reasoning behind each move. At least two, three times a year, the market gives up its "gifts" and you only need to recognize the events. ... In the current environment, the cheerleaders will attempt to talk the market higher. CNBC is the worst of the bunch. Sunshine characters who continually painted a rosy picture, berry picked their guest commentators to push bullish sentiment. See how quick they back peddled? So be it. When you listen to hot air you get hot air.

... Stock Pickers, It's Your Moment to Shine .... With the past week's volatility in the market, it's time for WSJ readers to show their mettle and get their stock picks ready for a new Investment Dartboard game. In Contest No.27, as in the past, six readers' picks will vie with a portfolio picked by Sunday Journal staffers tossing darts at the stock listing from the newspaper. The last day to enter will be Sunday, March 18. The winner among the six readers for the six months April through September 2007 wins lifetime bragging rights and a Sunday Journal tote bag. Readers and dart choices will be announced Sunday, April 8. The rules: (1) Choose just one stock from the NYSE or Nasdaq markets and send your choice via email to the sundaydartboard@wsj.com address. No entries by regular mail. (2) You must include your name, address, daytime phone number, email address. (3) Brokers and other investment professionals can't compete. (4) You must be willing to be interviewed. Good Luck!

... . Purpose of the arrows: - projecting that DJIA, Nasdaq and S&P barometers will close higher at the end of the day. - projected consolidating barometers with limited directional action. - projecting all three barometers declining for the days.

.... Our Message Board and "Contact Us" elements are available at no cost to keep you up-to-date with timely information. Our Fantasy Hedge Fund gives you a concise overview of how investment ideas are executed. All transactions are posted on the Message Board.

View From the Bottom - A roundup of the day's performance

March 16, 2007, 4:00pm ... Day Trader for the day shows gain of $80,000.00. Adjustments to the 60-Day Summary list shows no activity. Net realized change for the day in Stocksmirf Fantasy Hedge Fund portfolio is a gain of $80,000.00, and for the month to date a gain of $2,752,870.00, excluding unrealized gains or losses.

March 15, 2007, 4:00pm. ... Day Trader for the day shows gain of $117,450.00. ... Adjustments to the 60-Day Summary list shows: (1) covered 25% of short position in NEWC* for a gain of $644,500.00; (2) covered entire short position in LEND for a gain of $684,000.00; (3) sold AFCE for a gain of $3,200.00; (4) covered entire short position in AHM for a loss of $639,000.00. Net realized change for the day in Stocksmirf Fantasy Hedge Fund portfolio is a gain of $810,150.00, and for the month to date a gain of $2,672,870.00, excluding unrealized gains or losses.

March 14, 2007, 4:00pm ...Day Trader for the day shows no activity. ... Adjustments to the 60-Day Summary list shows: (1) covered 20% of short position in LEND for a gain of $382,800.00; (2) sold entire call option position in AMGN for a loss of $86,500.00; (3) sold FCGI for a loss of $81,000.00. Net realized change for the day in Stocksmirf Fantasy Hedge Fund portfolio ("SFHF") is a gain of $215,300.00, and for the month to date a gain of $1,862,720.00, excluding unrealized gains or losses.

.For the fourth calendar quarter of 2006 on the SFHF portfolio. Total performance, including unrealized gains, was $1,027,724.90 on weighted capital of $4,832,125.72, representing 0.2127%. for the period ending December 31, 2006.

*** based on the weighted portfolio value adjusted daily.

.. March 16, 2007

... 3:42pm ... COVER SHORT on NEWC - last $2.25. Treat transaction as day trade.

.... 2:41pm ... BUY CDC Corporation (CHINA) - last $8.65. CHINA provides software, mobile applications and online gaming services. Improving fundamentals with a forward P/E of 16 times and 5.2% operating margins adds credibility to its evolving business model. Institutional participation, especially in the international markets, has created a firm support base in the current stock price range. CHINA is a near-term speculative BUY with EXIT POINT at $10.50.

.... 11:51am ... SHORT New Century Financial (NEWC) - last $2.54. Unrealistic value considering the underlying circumstances.

... 9:30am ... error in posting price on STEC - change to $8.93.

March 15, 2007 ... 1:25pm ... BUY STEC Inc. (STEC) - last $8.36. STEC is in data storage as DRAM market improving. Fundamentals excellent with forward P/E at 9 times. Institutional buyers are increasing position. STEC is under moderate distribution that caused the stock to systematically decline from the $12 range over last 3 months. BUY as near-term speculation. No EXIT POINT determined..... 11:25am ... BUY Directed Electronics Inc. (DEIX) - last $8.93. DEIX designs and market consumer electronics. With improving fundamentals and operating margins at 6.25% the company is considered a near-term value play. All though sponsorship is lacking DEIX should trade up when earnings reported tomorrow. DEIX is considered speculative risk. EXIT POINT determined at $10-12 ranges.

Ticker	Last Trade	Direction	Entrance Point	Exit Point
CHINA	$8.85		$8.85	$10.50

P/E Ratio:	*
Forward P/E Ratio:	16
Float Shares2:	78.25 M M
Company Guidance:	*
Recommendation3:	*
Support4:	8.25
Resistance5:	11.50
Under Accumulation6:	limited
Under Distribution7:	no

... DAY TRADER

.. March 16, 2007

.... 1:21pm ... COVER SHORT #2 on LEND - last $11.82.

...12:17pm ... SHORT# 2 on LEND - last $12.13. At upside resistance.

... 11:28am ... COVER SHORT on LEND - last $11.60.

.... 9:59am ... SHORT LEND - last $12.60. At crossover to accumulative distribution.

March 15, 2007... 3:33pm ... COVER SHORT #3 on LEND - last $9.29.... 2:37pm ... SHORT #3 on LEND - last $10.01.... 2:20pm ... COVER SHORT #2 on LEND - last $9.59. Take profit... 1:58pm ... SHORT #2 on LEND - last $10.10.... 1:43pm ... COVER SHORT on LEND - last $9.91. Take profit.... 12:55pm ... SHORT LEND - last $11.029 . After run over 5 points, overbought for contract to $8.50.

March 14, 2007, 7:30am. No action.

.... From the 60-Day Summary list

... March 16, 2007, 7:30am. No action.

March 15, 2007... 10:43am ... COVER SHORT on AHM - last $26.34. Take loss.... 10:33am ... COVER SHORT on 25% of position on NEWC - last $1.05. Originally suggested at $5.915 on 03.06.07. Take profit.... 10:27am ... COVER SHORT on entire position LEND - last $7.95. Under questionable accumulation. No sense fighting the tape. Originally suggested at $12.51 on 03.12.07. Take profit with revisit later. .... 9:59am ... SELL AFCE - last $16.06. AFCE reported earnings that appear less than expected. Originally suggested at $15.90 on 03.14.07. Take minor profit rather can watching a bigger loss.

March 14, 2007... 12:28pm ... SELL AMGN call options April '07 strike price $60.00 (YAADL.X) - last $2.25. Originally suggested on average at $3.49. Take loss on general weakness. ... 12:16pm ... COVER 20% of open short position on LEND - last $4.46. Originally suggested as a short sale at $12.51 on 03.12.07. Take profit to lock-in gains as a means to free-up cash.... 9:31am ... FCGI opened at $10.43..... 8:48am ... SELL First Consulting Group Inc. (FCGI) - close $11.66. Earnings failed to excite. Take loss.

___________________________

Net liquidation value of Stocksmirf Fantasy Hedge Fund (SFHF) portfolio for the period ending 02.28.07.........,........ $ 5,194,411.00

REALIZEDGAINS LOSSES FOR THE MONTH OF OCTOBER '06 in the SFHF portfolio ........................ ......... $277,601.00

REALIZED GAINS LOSSES FOR THE MONTH OF NOVEMBER '06 in the SFHF portfolio. ...............................$338,049.00

REALIZEDGAINS LOSSES FOR THE MONTH OF DECEMBER '06 in the SFHF portfolio ...... ......................... $371,020.00

REALIZEDGAINSLOSSES FOR THE MONTH OF JANUARY '07 in the SFHF portfolio .....................................$615,500.00

REALIZEDGAINSLOSSES FOR THE MONTH OF FEBRUARY '07 in the SFHF portfolio ....................$1,092,241.00

REALIZEDGAINSLOSSES FOR MONTH OF MARCH '07 to date in the SFHF portfolio ..................... $2,752,870.00

UNREALIZED GAINS (LOSSES) in the Stocksmirf Fantasy Hedge Fund portfolio.

March 1, 2007, 4:00pm ...........$594,350.09

March 15, 2007, 4:00pm ..... $1,003,073.75

March 14, 2007, 4:00pm .......$1,771,600.06

March 13, 2007, 4:00pm ...... $2,473,399.92

March 12, 2007, 4:00pm ...........$469,800.02

March 9, 2007, 4:00pm ............ $353,500.03

March 8, 2007, 4:00pm ............... $77.199.93

March 7, 2007, 4:00pm .............$200,200.00

March 6, 2007, 4:00pm ............... $84,100.25

March 5, 2007, 4:00pm ............... $20,350.00

March 2, 2007, 4:00pm .................$21,659.74

March 1, 2007, 4:00pm ................ $05,100.00

__________________________________

Prior Dartline summaries ..... March 13, 2007, 7:30am ... ... At 1406.60 the S&P 500 index 3.75 has functioned as predicted. The range 1373.97 to 1415.89 remains the runnel for more sideways action. Prudence should dominate your thinking. Since Wall Street needs confirmation to push the market either way, the so called "experts" are waiting for key inflation numbers on whether the Fed may have enough room to cut interest rate later this year. Dartline has constantly addressed this issue, and believes the Fed will do nothing. Lower rates would crush the U.S. dollar, while raising rates would drive the economic closer to recession - what would you do? ... Stick to our basic plan: (1) Consider the market as a near-term trading vehicle on both sides; (2) Remain cautious until the economic data at week's end filters out; and (3) Act exclusively on the dynamics of the S&P 500 index by using support and resistance levels to point near-term market direction.

March 12, 2007, 7:30am ... ... Closing above 1400 at 1402.85, the S&P 500 index remains within acceptable range (1373.97 - 1415.89). Whatever direction at this juncture would establish the near-term trend. Use this knowledge to :"play" the market on both sides. ... Market stability is the underlying issue as investors continue to fester. Retail sales reports are due this week which should provide how the consumer is thinking, while government's producer and consumer prices indexes may give us a hint on inflation. Job data last Friday showed that the public is still financially healthy to feed economic growth. A further conclusions will be the Commerce Department's retail sales numbers for February. Consensus suggests an increase of 0.3 per cent. ... Bottom line: the Fed will keep interest rates unchanged at 5.25 percent when it convenes on March 20-21). Lots of anxiety as buyers and selling fight it out. . .. Watch VIX to measure volatility in S&P 500 index options which as gone up 50% in past two week. This trend suggests the stocks will fall. .... Remain flexible and look for "special situations" to trade the market on both sides. Taking long term positions would not be prudent.

Prior Best Ideas .. March 14, 2007... 3:12pm ... SHORT #3 on LEND - last $6.47.... 2:51pm ... SHORT #2 on Accredited Homes (LEND) - last $5.60. Add to short position.... 2:42pm ... SHORT #3 on American Home Mortgage Investments (AHM) - last $23.05. Add to short position on technicals. 12:52pm ... BUY AFC Enterprises Inc. (AFCE) - last $15.90. AFCE is a 'special situation' buy based on earnings and upward guidance projection due tomorrow morning. At 17 times forward earnings and limited float, while 18% short position, AFCE can create a short squeeze. EXIT POINT fixed at $17.95 - $18.50. Consider a risk play since it is general not prudent to go long in a deteriorating general market, yet the reward/reward ratio favors minor commitment. 10:05am ... SELL SHORT Washington Mutual Inc. (WM) - last $39.24. Bank and thrift holding company with major exposure in sub prime mortgage portfolio. Exit POINT not determined.

March 13, 2007... 2:50pm ... SELL SHORT #2 on AHM - last $22.04. Add to short position. Contracting volume suggests pullback after unusual advance.... 1:26pm .. SELL SHORT on American Home Mortgage Investment Company (AHM) - last 21.15. AHM is a REIT engaged in investing and creating residential mortgages, with 40% exposure on sub-prime loans. No EXIT POINT determined.

March 12, 2007... 3:01pm ... BUY Kroger Company (KR) - last $25.60. With earnings due tomorrow, KR should provide upside surprise. At 16.3 times forward earnings KR can gain traction as long terms increase holdings. EXIT POINT at $28.20.... 1:05pm ... SELL SHORT LEND - last $12.51. Contracting macd suggests lack of buyers and limited support.... 12:40pm ... COVER SOLD ON LEND - last $12.49. Take profit.... 10:03am ... SELL SHORT Accredited Home Lenders Holding Company (LEND) - last $14.02 . LEND is a sub prime mortgage lenders that has its portfolio under review - negative implications. No EXIT POINT determine.

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BEAT THE DART is a classic term originally applied in 1898 when J.P. Morgan threw a dart at the stock table page of the New York Times. Whatever the dart hot, he purchased the stock and made a fortune. In time others used the procedure with startling results. The dart picks beat professional analysts 65% of the time!
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1 Based on market conditions and other factors previewed in Best Ideas, changes can happen at any time. Accordingly, continue to log-in on a regular basis to maintain maximum performance.
2 Float - Available stock position in the hands of the general public of the total outstanding.
3 Institutional recommendations during the last 30 days.
4 Under technical analysis the term 'support' refers to a point in the stock's price that is immediately maintained and usually suggests an entrance point to purchase.
5 Under technical analysis the term 'resistance' suggests that a point in the stock's price has been reached and further gains are temporarily unlikely.
6 Under Accumulation occurs when abnormal buying in a particular stock takes place, and suggests that inside information may be at play and anticipates future price appreciation.
7 Under Distribution suggests that insiders and others are stealth fully selling on the belief that lower stock prices will occur.
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