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    Bob Carey
Chief Investment Officer
Market Commentary & Analysis
    Brian Wesbury
Chief Economist
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    Jeff Margolin
Closed-End Fund Analyst
Closed-End Fund Commentary
 Factoid of the Day Friday, November 21, 2008  
From the peak in the S&P 500 on October 9, 2007, through November 19, 2008, the market value of the 500 constituents in the index declined by $6.69 trillion, according to Howard Silverblatt, index analyst at Standard & Poor's. That is nearly $1 trillion more than the $5.76 trillion lost in the bear market at the start of the decade (2000-2002). Y-T-D, the total market cap of U.S. equities is down 46.9% to $9.4 trillion, according to Bloomberg. The total market cap of all global equities markets is down 53.3% to $28.4 trillion (USD).

Fund Update

  Unit Investment Trust Deposit Information Initial Offer Date
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International, 17 12/23/2008
Large-Cap Growth, 17 12/23/2008
Large-Cap Value, 17 12/23/2008
Mid-Cap, 17 12/23/2008
Small-Cap, 17 12/23/2008
Total Equity Allocation, 14 12/23/2008
Canadian Energy & Income, 12 12/18/2008
Strategic Income Advantage Select Closed-End, 15 12/18/2008
Natural Gas, 3 12/15/2008
Solar Energy, 3 12/15/2008
Strategic 10/A+, 1Q '09 12/15/2008
Balanced Income, 18 12/11/2008
Equity Advantage Closed-End, 5 12/11/2008
Tactical Allocation, 3 12/11/2008
Wind Power, 4 12/11/2008
Utilities Select, 7 12/10/2008
Conservative Growth, Dec. '08 12/9/2008
ETF Growth and Income, Dec. '08 12/9/2008
Moderate Growth, Dec. '08 12/9/2008
Banking Opportunity, Series 5 12/4/2008
Defensive Equity, 5 12/4/2008
Dow® Target 10, Dec. '08 12/1/2008
Dow® Target Dividend, Dec. '08 12/1/2008
Income Allocation Closed-End, Dec. '08 12/1/2008
Target Double Play, Dec. '08 12/1/2008
Target Focus Four, Dec. '08 12/1/2008
Target Triad, Dec. '08 12/1/2008
Target VIP, Dec. '08 12/1/2008
Value Line® Target 25, Dec. '08 12/1/2008
Convertible & Income Closed-End, 15 11/25/2008
New Jersey Municipal Income Closed-End, 15 11/25/2008
New York Municipal Income Closed-End, 20 11/25/2008
Preferred Income, 24 11/21/2008
Alternative Energy, 8 11/20/2008
Energy Select, 28 11/20/2008
Health Care Select, 10 11/20/2008
Mega-Cap, 7 11/20/2008
Water Utility & Infrastructure Select, 10 11/20/2008
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