Thursday Day here, another week has passed, and very little seems to have changed. The US lawmakers are still squabbling over the debt ceiling, the US (and global?) economy still seems buggered (initial jobless claims rising 10K this week, German manufacturing unexpectadly fell), and the European debt crises still rages.

Interest rates in the US must start moving higher. But 'must' doesn't include a time frame. This debt situation is out of control, lending to any government, especially the world's most indebted for next to nothing makes no sense for anyone. But that being said, this economy is not well, and will not be for a long time to come. Any rise in interest rates will break any sort of legs it has to stand on its own. Something to think about anyway.

As for our portfolio, no new trades or recomendations. Just happy to sit on our positions for the time being. If SLW gets hit a little harder, may add to our position (in small chunks).

Account Details

Cash = $86,470

Assets
--> XIV -- 1000*18.09 = 18,090 [1000@17.50=17,500]
--> RIMM -- 200*27.10 = 5,420 [ 200@28.75= 5,750]
--> SLW -- 100*38.74 = 3,874 [ 100@33.00= 3,300]
= 18,090 + 5,420 + 3,874
= $27,384

Liabilities
--> OCT'11 SLW $35 PUTS = 30*1.61 = 4,830
--> JAN'12 LULU $40 PUTS = 20*1.85 = 3,700
= 4,830 + 3,700
= $8,530

Total
= 86,470 + 27,384 - 8,530
= $105,324

Another good week for us, as our portfolio was up more than 2%. We are now sitting on a $5,324 gain (5.32%) in just over one quarter. We need to get more exposure to the metals, but I haven't decided on what the best angle is. We could maybe roll our SLV options out to a further out month at a higher strike price, and continue to collect premiums. Or we could buy some call options, or stocks outright. A 5% return is great over a quarter, but when these metals go, 5% is going to be for chumps.