Gold

I bought small positions in the double-short gold and silver ETFs just before congress passed the debt ceiling extension thinking that would cause gold and silver to pull back.  Wrong.  I've been on the losing side ever since.  I saw a Wall Street Journal article yesterday that said that iShares' gold EFT had more market capitalization than iShares' S&P ETF.  After the last two days, I doubt this is still the case.  It's amazing to me that one commodity tracking ETF can have more money invested in it than an ETF tracking the entire market.  I am keeping my double-short positions for the near term.

Update:   Gold dropped about $100 an ounce today, or 5.38%.  My double-short gold EFT only rose 6.27%.  I thought I owned a double-short, not a one and a fifth short.

More Update:  The Wall Street Journal article on gold ETFs included an interview with a realtor who explained that because of the weak dollar he was dumping other investments to buy gold ETFs.   Realtors talking the dollar and currency markets always gives me comfort.