20090702 Weekend, Housing ETF

Dow 8,280.74 -223.32
Nasdaq 1,796.52 -49.20
SP500 896.42 -26.91
30yrBond 4.3170% -0.0300
10yrT-Note 3.495% -0.49
NYSE stayed open 15 minutes late. Did Government Sachs need more time to do the Treasury's and Fed's bidding?
GLD 91.25 -1.14
SLV 13.16 -0.39
PTM 14.56 +0.01

Short week with US markets closed on Friday.
Unemployment report had larger than expected job losses.
Looking for light volume Monday, and lower prices with more volume on Tue/Wed.

DRYS 5.44 -0.24. Covered short today.

CBL 5.06 -0.55. Short it, now!
SMN 19.87 +0.97
WLL 33.26 -2.15

DMM 31.86 +0.89. MacroShares Major Metro Housing Down. 3x leverage.
UMM 18.17 -1.65. MacroShares Major Metro Housing Up. 3x leverage.
Up and Down do not invest directly in a relevant underlying asset such as stocks, bonds, or houses. Instead, they invest in short-term Treasury securities and overnight repurchase agreements. The paired trusts have a binding agreement to pledge assets to one another over time, according to a predetermined formula that is driven by changes in the housing index, based on the movement of housing prices. This transfer of value back and forth gives "investors" exposure to the direction of U.S. home prices.

The structure resembles a see-saw as the assets are shuffled between the paired trusts. Because of the pairing requirement, an equal number of shares for each fund will be created. Because of the leverage factor, the Up and Down ETFs will experience changes of 3x the changes in the S&P/Case-Shiller Composite-10 Home Price Index. ... They are vehicles for naked gambling. Just bet up or down (black or red). You have a 50% chance of winning.