Weekly Update

Not much happening right now. The Dow seems to be headed either for a new high or to test the previous high. Either way it doesn't have much more to go before it dies of old age and exhaustion. It is interesting to note that 3/4 of the gains in the Dow this year have come about from expansion of P/E ratios and only 1/4 from increases in earnings. What has been happening is the return of the individuals to the stock market and they are piling in like there is no tomorrow. The big heavy hitters like Warren Buffet and George Soros have been selling and the small individuals have been buying. This is typical of market tops. Like most market tops this one will end badly with a lot little people losing money and the big guys getting rich. In any event here are the charts from the Model Portfolio. I'll post the results first and the charts below that.  All four are in the green but I fear this market is about to roll over to the downside so I will be watching them closely. For now it is watch and wait. For you technical types out there it is interesting to note DDM looks like it might be tracing out a head and shoulders pattern which, if true, means the end may be near.

DIG	100	60.98	61.44	+0.0600	$6.00	$46.00	0.75%	$6,144.00
DDM	100	96.41	98.84	+0.9100	$91.00	$243.00	2.52%	$9,884.00
TBT	100	65	79.69	-0.5880	$58.80	$1,469.00	22.60%	$7,969.00
UCO	100	30	38.57	-0.0300	$3.00	$857.00	28.57%	$3,857.00
Total					$35.20	$2,615.00	10.36%	$27,854.00