Investors & Friends:

Here's a summary of our investment actions from the past week.

Option Strategies - Covered Calls

1) Gold Fields Ltd. (NYSE: GFI) - The price of our July covered calls declined to $0.05 on 7/10, so we closed them out and sold a new round of Aug calls for $0.90.

The Investrio Stock Selector Fund Bull and Bear Market Indicators Report for the week ending 7-10 is attached. We added a new page with Fibonacci Retracements for the Dow, S&P, and Nasdaq; the Gold / XAU Ratio; and additional perspective on the unemployment rate and magnitude of the loss of jobs.

This week Investrio reached another significant milestone. Investrio agreed to manage investment funds for its second client.

Lead Fund Manager
Investrio

Etcetera

What they're selling in California... Millions of dollars worth of IOUs, which the financially strapped state is issuing in lieu of cash as it grapples with a $24 billion budget crisis, are appearing on websites like Craigslist, where opportunists are buying them at a discount so they can turn a profit when the IOUs come due on Oct. 2. Meanwhile, Bank of America, Wells Fargo, and Chase agreed to accept the IOUs at face value through July 10. After that, recipients will have to go to check-cashing storefronts or credit unions, which will take them at a fraction of the full price.

Even Pope Benedict XVI is weighing in on global economic reform. In his July 6 encyclical he wrote "Financiers must rediscover the genuinely ethical foundation of their activity."

We conducted an unscientific poll to find out which retailers the average consumer prefers shopping at. The results: 1) Walmart, 2) Kohls, 3) Target, 4) Costco, 5) JC Penney, 6) Dollar Tree, 7) Gap, 8) Sears, 9) Liz Claiborne, 10) BJ's Wholesale Club. These retailers were not selected by any of the poll participants: Bed, Bath, and Beyond; Family Dollar; 99 Cents Only; Ann Taylor; Nordstrom; Saks; Jones NY; Limited; and Tiffany.