Market Ruminations

Well horsefeathers. The market turned on me again. Shortly after the last post I got stopped out of all 4 of my positions showing a small loss on each one. Here is the list. 
DUG: Bought in at $30.00. Stopped out at $28.00. Loss of $200
DXD: Bought in at $18.00. Stopped out at $17.00. Loss of $100
SJB:   Bought in at $39.50. Stopped out at $38.75. Loss of $125
TBT:  Bought in at $34.66. Stopped out at $33.00. Loss of $166
Altogether I dropped $571 on the 4 trades. Good thing it's gambling money and not real money. Ok, that's all the bad news. The good news is I bought 100 shared of UGL at $80.11. It is currently at $86.56 which brings it's value up $645.00 so I made it back up on one trade. Still, it was a lost week as far as I am concerned. Where we go from here is beyond me. Europe is melting down before our eyes, China is blowing the biggest bubble the world has ever seen and the US is racking up debt on an unimaginable scale trying to avoid another great depression. In spite of all the the beat goes on and the lemmings continue to rush headlong toward the precipice. Eventually reality will set in and the stock market will crash, the price of bonds will melt down, gold will go through the roof and we will have to face up to the fact our system is broke and needs to be redesigned and not repaired. In an ideal world we would go back on the gold standard, pass term limits, do away with the Federal Reserve, shoot all the bankers and politicians but it's not an ideal world. My guess is they patch up the current system and limp along for another few years but, mark my words, the system will fail. In the meantime my best guess is that we will pass a raising of the debt limit, the market will keep moving sideways or slightly up till fall and then the whole thing comes unglued in October. Having said all that I don't know where we are but, as usual, I will keep you posted with my bets and provide charts enough so that you can see what I'm doing. After all it's not real money, it's gambling money. Current positions are in the chart below.

	Today							Since Purchased
Symbol/Name	Price*	Change	Last Trade	Gain/Loss (USD)	Shares	Price Paid	Purchase Date	Gain/Loss (USD)	% Change	% Port	Value (USD)
UGL:US ($) ProShares Ultra Gold	86.56	+0.66	07/15	+66.00	100	80.11	07/07/2011	+645.00	+8.05	100.00	8,656.00
Totals				+66.00				+645.00	+8.05		8,656.00