In This Edition... I hope you've been reading the blog on a daily basis. I'm able to write a lot more there than I am in the newsletter. And, the way things are rolling right now for the market, it takes every single one of those words to stay on top of things. Nevertheless, I've got some condensed perspective for you in the shadow of today's zaniness.  First though,Spicy Pickle (OTCBB: SPKL) is doing just fine despite some ugliness here in the United States. In baseball, the saying "hit 'em where they ain't" is good advice for batters. I think the principle also applies to Spicy Pickle's growth plan - they're building new stores in a place where there's not a recession.  I also want to look at yet-another great piece of news from China Energy Recovery (OTCBB: CGYV). The stock market may be a wild ride right now, but CER's business has been flowing quite consistently.    How Does Your 'Garden' Grow A couple of weeks ago we learned Spicy Pickle has been focusing their growth efforts outside the borders of the United States, away from any nasty recession, and by serving a consumer that isn't feeling pain like most of the U.S. is. The simple solution was growth through acquisition - they bought all eleven Bread Garden Urban Cafes in Vancouver, Canada.  I mentioned at the time I though this venue (the geography as well as the new restaurant concept) was an omen of things to come. As it turns out, I was right. A few moments ago Spicy Pickle Franchising Inc. announced they've signed a lease at the Vancouver Airport, and will soon be opening a Bread Garden there. The new restaurant will be up and running sometime in early 2009. At first glance you might think a new restaurant is nice in terms of cash flow, but it's still just a new restaurant. I would agree, except for two things.  First, do you know how busy Vancouver Airport is? Eighteen million people will pass through it by the end of the year. Second, do you know where the Olympics are going to be held in 2010? Vancouver. Even if only for a while, that's going to be big opportunity for the Bread Garden to make a big splash....and some good money.  The press release is below.   Book Another $735K  We don't really have any reason to be surprised about today's news. China Energy Recovery told us back in September they had $16 million worth of business to be completed by the end of 2008. All they're doing is going out and doing the work and collecting payments. (Novel concept, eh?) The latest installment came today, when CER collected $735,000 for a boiler system purchased by Zhuji Paper Mill in Guangdong, China.  At first glance I thought this was another steam recovery system, not unlike the two they've provided for Two Lions Fine Chemical Co. However, there was something about the news that caught my eye...the system also captured a toxic by-product created in the process of making paper. To make paper, you also have to make pulp. The problem is, to make pulp, you also make black liquor (sorry - nothing you'd want to drink). This black liquor is toxic... toxic enough that the Chinese government recently required paper companies to come up with a solution to the problem. Zhuji's solution was to let China Energy Recovery solve the problem. In addition to capturing the waste heat created by the paper mill and reusing it or turning in into power, this particular boiler can also process 160 tons of black liquor per day. Rather than dumping it into the environment, part of the black liquor is reused, and the unusable part of properly disposed of.  What I found interesting was how China Energy's know-how was deep enough to come up with a solution that's not really within their focus area of waste-heat recovery. If they can devise a way to capture toxic waste, what else can they do? As big as the waste-heat boiler market is becoming, I can't help but wonder if CER will be able to enter other, bigger markets. There's a lot to be said for a company that can capitalize on its flexibility. Just thinking out loud.   The Market's Up, Then Up Some More, & Then Down If you've kept in touch with the blog, then today's action probably won't be a surprise to you.  I mentioned yesterday afternoon that the one thing the bulls couldn't afford to do was tack on another strong rally today - it would do nothing except invite profit-taking. Sure enough, greed swept the market much higher, and the selling began. The vulnerable market flinched at the first sign of that trouble, and the bearish snowball was sent rolling.  Or, here's a simple explanation of the whole mess... ad stocks just gained 1% per day over the span of 12 days, nobody would have thought a thing about it. When the market gains 12% in one day though, it makes everyone more than a little nervous.  As such - and in light of today's volatility - it's clear to me that the market is still hijacked by fear and greed.... the trickiest of all trading environments. I've been talking a great deal about candlestick analysis lately. The last couple of days is why - the shape of Monday's and Tuesday's bars is not consistent with a sustainable rally (and sustainability has been the big issue recently).  If a bullish recovery effort is to have any longevity, each day should start low (under the prior day's close), and should end high (above that day's open). The market opened much higher on Monday morning than where it closed on Friday. And, it opened much higher today than where it closed yesterday. You saw the result - a pretty strong pullback that may end up restarting the bigger downtrend. The 'ideal' rally is well-paced... the exact opposite of a one-day, 12% gain. The bulls paid the price today for getting too aggressive, too fast.  That said, I suspect yesterday and today was mostly institutional activity ....short covering, and unloading. Regardless, the shape of the bars essentially ruined a potential rally for the rest of us, for now. My bottom line? There's nothing about the last two days that tells us any more than we knew late last week. We're still very oversold, and there are still some incredible values out there. However, until fear and greed taper off, trading is a bit of a coin toss. Still, I believe we're working our way towards a normal trading environment. I'll be in touch when we get there. Here's the Spicy Pickle news.   Spicy Pickle's Bread Garden Urban Cafes Is Awarded Vancouver Airport Location Tuesday October 14, 1:00 pm ET  DENVER, CO--(MARKET WIRE)--Oct 14, 2008 -- Spicy Pickle Franchising, Inc. (OTC BB: SPKL.OB) fast casual restaurants announced today that its Bread Garden Urban Cafes, a chain of 11 franchised fast casual restaurants located in the greater Vancouver, Canada area, has signed a lease for a location at the Vancouver Airport.  The location is in Terminal C which is currently under construction and scheduled for completion in early 2009. The construction is part of a major redevelopment of the airport prior to the Winter Olympics which will be held in Vancouver, Canada in the winter of 2010. The stand alone location will be post security and in a food court area located in the center of the newly constructed concourse with high visibility. It is approximately 500 sq. ft. and shaped like a quarter circle. The space will be used entirely as a kitchen and front counter. Seating will be in the common area directly in front of and behind the unit. The new Terminal C services domestic traffic and Canadian international connections. It will be serviced primarily by Canada Air, the largest Canadian carrier. Build out will occur during the spring of 2009 to coincide with a slated opening of the new concourse in June or July of 2009. Lease payments will commence on September 1, 2009. This lease has a term of five years with a two-year option.  Marc Geman, CEO of Spicy Pickle Franchising, Inc., commented: "We have been working on sites in the Vancouver area even as we were negotiating the purchase of the Bread Garden chain. This was an opportunity that came up several months ago and we sent our project management team to Vancouver for the initial meetings with the airport. Due to the hard work on the part of the Bread Garden team that is now part of our team, we submitted a proposal that has resulted in this location being granted to Bread Garden Urban Cafes."  Mr. Geman further stated: "The Vancouver airport is an extremely high visibility location. The Airport had a 17.5 million passenger count in 2007 and has a projected 2008 count over 18 million. By the time of the Olympics in 2010 roll around they project over 20 million passengers. Of that more than 10 million passengers are in the domestic area where the Bread Garden Urban Cafe will be located. This is the type of alternative venue that can bring brand identification quickly to other major metropolitan areas in Canada and overseas."  Zip Dhanani, the former owner of Bread Garden Urban Cafes and consultant to Spicy Pickle, said, "The Vancouver Airport marks a new threshold for Bread Garden and promises to be a very busy location. We are also very pleased that one of the current franchisees who already owns two other high profile locations has been selected as the franchisee for this new location."  About Spicy Pickle(TM):  Founded in 1999, Spicy Pickle Franchising, Inc. (OTC BB:SPKL.OB) serves high-quality meats and fine artisan breads, baked fresh daily, along with a wide choice of eight different cheeses, twenty-two different toppings, and fourteen proprietary spreads to create healthy and delicious panini and sub sandwiches with flavors from around the world. As a leading "fast-casual" concept, Spicy Pickle offers menu items that are far beyond traditional fast food but without the price point of casual dining. The hallmark of a Spicy Pickle(r) restaurant is quality, service and an enjoyable atmosphere. The company is headquartered in Denver, Colorado, with restaurants open or under construction across 15 states and several more in development nationwide. Spicy Pickle Franchising, Inc., also operates as franchisor for Bread Garden Urban Cafes, a concept with 11 restaurants in the metropolitan Vancouver, Canada area. Bread Garden Urban Cafes serve coffee, pastries and breakfast items as well as lunch and dinner along with a wide variety of desserts. To find out more about Spicy Pickle (OTC BB:SPKL.OB - News), visit our website at www.spicypickle.com/.  Forward-Looking Statements:  Certain statements in this press release, including statements regarding the number of restaurants we intend to open, are forward-looking statements. We use words such as "anticipate," "believe," "could," "should," "estimate," "expect," "intend," "may," "predict," "project," "target," and similar terms and phrases, including references to assumptions, to identify forward-looking statements. The forward-looking statements in this press release are based on information available to us as of the date any such statements are made and we assume no obligation to update these forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in the statements. These risks and uncertainties include, but are not limited to, the following: factors that could affect our ability to achieve and manage our planned expansion, such as the availability of a sufficient number of suitable new restaurant sites and the availability of qualified franchisees and employees; risks relating to our expansion into new markets; the risk of food-borne illnesses and other health concerns about our food products; changes in the availability and costs of food; changes in consumer preferences, general economic conditions or consumer discretionary spending; the impact of federal, state or local government regulations relating to our franchisees and employees, and the sale of food or alcoholic beverages; the impact of litigation; our ability to protect our name and logo and other proprietary information; the potential effects of inclement weather; the effect of competition in the restaurant industry; and other risk factors described from time to time in our SEC reports.  Contact:  Company Contact:  Marc Geman  Spicy Pickle Franchising, Inc.  (303) 297-1902  http://www.spicypickle.com Investor Relations Contact:  Pamela A. Solly  Cirrus Financial Communications, LLC  (720) 489-4912  http://www.CirrusFC.com Source: Spicy Pickle Franchising, Inc.